Better Capital acquires Connaught division

The branch was renamed Santia and continues its trade business.

The investor is planning to restructure the company and inject fresh capital for new IT operating systems and new facilities. The investment was made from the BECAP Fund LP.

Connaught went into administration in September last year with debts estimated around £220m, after an attempt to get a fresh capital injection from lenders for a new business plan failed. Richard Heis, Richard Hill and Richard Fleming from KPMG were appointed as joint administrators in September 2010.

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 Diana Petrowicz on +44 20 7004 7505 or diana.petrowicz@incisivemedia.com

 

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