Past Investments

The Gala Group Limited

Sector: Leading provider of bingo and casino operations in the UK

Holding period: 3 years

Total investment: €287.6M

Total value realised: €887.5M

Gross internal rate of return: 56.4%

Multiple of capital invested: 3.1x

Developed Gala Bingo into the leading high-volume/low ticket leisure business in the UK, along with a buy-and-build strategy
3 separate mid-market transactions with EV’s of £390m (Gala), £90m (Riva) and £235m (a Hilton division) and a challenging integration programme
Simultaneously acquired Gala and Riva
Assisted management in the integration of the two businesses and also strengthened the management team
Then sourced and acquired a non-core division from Hilton
Worked closely with management to develop a detailed new business plan calling for the doubling of EBIT in 3.5 years.

Business sold very successfully to Candover and Cinven