THE WALKABOUT bar chain business has been sold in a management buy-out, with advisers from Zolfo Cooper facilitating the deal.
INTERTAIN Limited, which owns the Walkabout chain of bars and Jongleurs clubs, has been bought by John Moulton-founded (pictured) private equity investment vehicle Better Capital.
The MBO was led by chairman David Myers and CEO John Leslie, with Zolfo Cooper partner Paul Hemming leading the deal.
“Against the backdrop of a difficult trading environment we used our extensive network of contacts in the market to identify potential buyers for the business,” said Hemming.
“Better Capital has a great track record in these types of investment opportunities and clearly saw the significant potential in Walkabout.”
Zolfo Cooper recently advised the board of Tragus on the £37 million sale of Strada to Hugh Osmond’s Sun Capital Partners.
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