Tuesday, 26 January 2016

Duben's firm Oakley hungry for Ed's Easy Diner - part 3

I have been wondering what happened to the Ed's Easy Diner sale process since I wrote my last piece about a potential deal "moving closer to completion". Here is a link to that article in case you haven't seen it:

http://betaville123.blogspot.co.uk/2015/12/dubenss-firm-oakley-hungry-for-eds-easy.html

Clearly, there has been no deal since I wrote that article in December 2015 and I pride myself in publishing accurate stories, so I have been investigating the situation.

Well, it turns out, according to my sources, that Ivan Schofield, the new (ish) chief executive who replaced Andrew Guy, wasn't happy with the "plans/strategies" that had been presented.

I have also been told some of the buy-out firms wanted to wait and see how the business traded over the last few weeks.

Still, new plans/strategies have now been drawn up and a deal may - and I mean, "may" - happen in 2016.

The buy-out firms that have been taking a serious interest in Ed's Easy Diner are TPG, the owner of Prezzo, Primary Capital and Oakley Capital, Peter Duben's private equity firm.

However, it's not clear which one of those in pole position to purchase the business.

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