Thursday, 14 May 2015

ECI said to be working with NM Rothschild on £100 million sale of Reed & Mackay

I see US private equity firm TPG Capital announced earlier today the £150 million acquisition of discount retailer Poundworld - click on the link for the full story:

Now, I realise Mark Kleinman of Sky News discovered a few months ago that TPG was in exclusive discussions to buy Poundworld but regular followers of my work will be aware that I highlighted in the Mail on Sunday back in February that Poundworld had hired PricewaterhouseCoopers to work on "strategic options", with the business likely to change hands for between £100 million and £200 million.

Here is a link to that piece:

Anyway, that's enough trumpet blowing for now. Here is another little titbit about a deal brewing in the private market.

I hear from good sources that ECI Partners, the private equity firm that recently bought Evans Cycles for £100 million, is preparing to sell Reed Mackay, the high-end corporate travel agent used to by several of the City's most prestigious firms.

Word is ECI has been working with bankers from NM Rothschild on strategic options for Reed Mackay, which specialises in organising travel for bankers, lawyers and insurance professionals.

ECI declined to comment.

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