Image: Tiger Tiger is owned by Novus Leisure

Private equity firms LGV Capital and Hutton Collins Partners have backed the management buy out of Novus Leisure - the operator of the Balls Brothers and Tiger Tiger brands.

The pair have invested in Novus Leisure in a deal worth £100m, which will see existing non-executive chair John Kelly and CEO Steve Richards remain with the company.

LGV and Hutton Collins are now poised to support an expansion of Novus' central London portfolio, as well as entering new cities such as Manchester, Bristol and Leeds.

Novus - formerly under the control of Barclays and Royal Bank of Scotland - posted a 25.5 per cent increase in revenue and 51 per cent growth in profits during the year to 30 June.

Hutton Collins' Graham Hutton said: "Although Hutton Collins has not invested in this specific sector before, we have a depth of knowledge in the closely related dining sector.

"When investing we look for a differentiated product, strong growth prospects and a high performing management team, Novus ticks all those boxes and we're looking forward to helping the company to grow."

Click here for more information about Novus Leisure and click here for more information about Hutton Collins.