Perusa buys ECM's steak house Maredo

Perusa backed the company's tertiary buyout via its Perusa Partners Fund 2, a Guernsey-domiciled vehicle that held a final close on its €207m hard-cap in November 2011.

Following the deal, the management team will continue to lead the business. According to a statement, the new investor aims to bolster the company's market position through targeted investments and product development.

Previous funding
ECM backed the company's secondary MBO via its German Equity Partners III (GEP III) fund in May 2008. The stake was sold by private equity houses Parcom Capital, Brussels-based Fortis Private Equity and ECM's previous vehicle GEP II.

In May 2005, ECM led the management buyout of Maredo, together with Parcom and Fortis, from Whitbread Group. Investkredit Bank provided a senior debt facility and a mezzanine tranche, according to unquote" data. Fortis and Parcom were LPs in GEP II and co-invested alongside the fund.

Company
Established in 1973 and headquartered in Berlin, Maredo manages 46 steak restaurants in Germany and Austria. The business currently has 1,500 employees.

People
Perusa – Hanno Schmidt-Gothan (managing director); Raphael Weller (investment director).
ECM Equity Capital Management – Carsten Schemmel (partner); Alexander Schönborn (investment director); Marius Buxkämper (investment manager).
Maredo Group – Joachim Gripp (managing director).

Advisers
Equity – Gütt Olk Feldhaus (legal); Deloitte (commercial due diligence).
Vendor – DC Advisory (corporate finance); Milbank Tweed Hadley & McCloy (legal).

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• Topics
• Buyouts
• Consumer
• DACH
• Exits
• Secondary buyout
• Germany
• Perusa GmbH
• ECM Equity Capital Management