
OTPP looking to score Goals Soccer takeover
The Ontario Teachers' Pension Plan (OTPP) is set to buy listed UK-based Goal Soccer Centres, which operates five-a-side football centres, in a deal that values the business at around £73.1m.
OTPP will carry the investment through its private equity arm Teachers' Private Capital, via the newco Goliath. It will offer £1.44 per share – a 6.7% premium on Thursday's closing price – valuing Goals' entire capital at approximately £73.1m.
Private equity house Patron Capital, which also owns five-a-side football company Powerleague, reportedly expressed an interest in acquiring the business earlier this month.
Goals has accepted the offer and OTPP must now secure the approval from 75% of all the company's shareholders, including Hermes Pensions Management and Octopus Investments.
Company
Based in East Kilbride, Goals Soccer Centres owns and operates 42 outdoor five-a-side football centres in the UK and one in the US. The group posted a £30.4m turnover and £13.8m EBITDA for 2011.
People
Jo Taylor led the deal for Teachers' Private Capital. Keith Rogers is managing director of Goals.
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