M&A Deal Summary

Bank of Scotland Integrated Finance Acquires Mill House Inns

On March 1, 2005, Bank of Scotland Integrated Finance acquired restaurant Mill House Inns from Phoenix Equity Partners for 88M GBP

Acquisition Highlights
  • This is Bank of Scotland Integrated Finance’s 1st transaction in the Restaurants sector.
  • This is Bank of Scotland Integrated Finance’s largest (disclosed) transaction.
  • This is Bank of Scotland Integrated Finance’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2005-03-01
Target Mill House Inns
Sector Restaurants
Buyer(s) Bank of Scotland Integrated Finance
Sellers(s) Phoenix Equity Partners
Deal Type Add-on Acquisition
Deal Value 88M GBP

Target

Mill House Inns

West Yorkshire, United Kingdom
Mill House Inns owned and operated more than 50 high-quality managed pubs in the UK. The majority of pubs were wholly-owned and located in desirable, commercially attractive locations. The business was focused on two key sub-sectors: out-of-town food-led pubs and neighbourhood pubs.

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Buyer(S) 1

Buyer

Bank of Scotland Integrated Finance

Edinburgh, United Kingdom
Category Company
Sector Financial Services
DESCRIPTION

The Bank of Scotland is a commercial and clearing bank based in Edinburgh, Scotland.

DEAL STATS #
Overall 2 of 4
Sector (Restaurants) 1 of 1
Type (Add-on Acquisition) 2 of 3
Country (United Kingdom) 2 of 4
Year (2005) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-18 The Edinburgh Woollen Mill

Langholm, United Kingdom

Edinburgh Woollen Mill a clothing retailer for the mature market with outlets throughout the UK.

Buy £80M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-28 Securistyle

Cheltenham, United Kingdom

Securistyle Ltd. is a manufacturer of architectural hardware products which include hinges, locking mechanisms and handles for use on windows, doors and conservatories. The business supplied its products to the public sector, housing trusts, resellers and direct to other manufacturers. Securistyle dominated the specifier market in the UK and during the investment holding period Securistyle saw significant growth in both China and the Middle East.

Buy £42M

Seller(S) 1

SELLER

Phoenix Equity Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 1.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Phoenix Equity Partners is a mid-market private equity firm that funds management buyouts and buy-ins, and provides expansion capital for UK-based companies. Phoenix looks for opportunities valued up to £200 million. Target sectors include consumer, leisure, retail, financial services, healthcare, education, media, transportation/logistics, and business services. Phoenix Equity Partners was formed in 2001 and is based in London.

DEAL STATS #
Overall 5 of 41
Sector (Restaurants) 1 of 3
Type (Add-on Acquisition) 2 of 14
Country (United Kingdom) 3 of 39
Year (2005) 1 of 2
Size (of disclosed) 11 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 Acorn Care & Education

Bolton, United Kingdom

Acorn Care & Education Ltd. is a provider of care and education for children with special educational needs. ACE's core area of focus is SEN schools for children with emotional and behavioural difficulties, severe learning difficulties, challenging behaviour and complex needs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-01 Covenant Healthcare

London, United Kingdom

Covenant Healthcare Ltd. is a health care company that develops and operates medical hospitals.

Sell £170M
Mergr

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