Better Capital buys Intertain's debt

Capital to support the debt acquisition was drawn from the Becap12 Fund. The transaction includes an allocation for the company's future funding requirements.

Intertain was founded in 2009 to acquire the trading assets formerly owned by Regents Inns, which was placed into administration by BDO. The business operates brands including Walkabout, the Jongleurs comedy clubs and the Old Orleans restaurants.

Audited revenues for the year ending on 2 February 2013 hit £59m with an operating loss of £3m.

Earlier this year, Becap12 wholly acquired OfficeTeam, a UK-based supplier of office products and services, for £80m, with a further £10m commitment to support the firm's restructuring.

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• Topics
• UK / Ireland
• Restructuring
• Better Capital LLP
• United Kingdom