PAI still in race for Office

The private equity house is said to be one of five bidders selected to go through to the second round of bids, scheduled to take place in mid-November. Barclays Private Equity and Permira were once thought to be interested in the shoe retail chain, but are now believed to have dropped out from the race.

The Office chain was bought by West Capital in 2003 for about £16m. It has since expanded across the UK, from 21 stores in 2003 to 125 at present. Office prospered in 2009 despite the downturn, posting a £145.6m turnover (up 29%) and a £15.6m EBIT (up 148%).

Corporate finance firm Hawkpoint has been appointed to run the auction process.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

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• UK / Ireland
• Buyouts
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• PAI Partners
• Secondary buyout