ECI's Booze on the block

The asset may fetch £90m, with private equity touted as the most likely buyer according to a source close to the deal. This is because of the prospects for further expansion that remain within the business, as well as the strong management team. ECI decided to explore options after a number of unsolicited approaches, according to the source.

ECI acquired Bargain Booze in a £63.5m buyout in January 2006 from BWG, then backed by Electra Partners Europe.

The 2006 deal saw ECI take a substantial majority stake and back the existing management team. AIB supported the deal with senior, mezzanine and working capital. Sources say that the strong cash generation since the deal means the company is almost debt free.

Tim Raffle, David Ewing and John Hayhurst led the deal for ECI Partners, and Hayhurst joined the company's board as a non-executive director. ECI introduced Roger Pedder as chairman.

 

 

 

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