Partners Group in talks to acquire BC-backed Côte – report

Partners Group is currently deploying capital for its buyout fund strategy through Partners Group Direct Equity 2016, which closed on €3bn in 2017. Meanwhile, the firm is raising for its Partners Group Direct Equity 2019 fund, which was registered in July 2018 with a target of €5bn.

The change in ownership could be made via a debt-for-equity exchange deal.

A spokesperson for Côte confirmed that a sale is among several options being explored for the company to facilitate its next growth stage, according to the report.

Côte is believed to be considering shuttering some of its 96 restaurants in the wake of the coronavirus crisis.

BC acquired the company in July 2015 from CBPE Capital, drawing equity from its BC European Capital IX fund, which closed on €6.5bn in 2012.

Côte generated £156m in sales in the year ending on 28 July 2019 with adjusted EBITDA of £18.4m. Headquartered in London, it was founded in 2006.

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Consumer
• BC Partners
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• United Kingdom