M&A Deal Summary

TowerBrook Capital Partners Acquires ASK Central

On July 1, 2020, private equity firm TowerBrook Capital Partners acquired restaurant ASK Central from Bridgepoint

Acquisition Highlights
  • This is TowerBrook Capital Partners’ 1st transaction in the Restaurants sector.
  • This is TowerBrook Capital Partners’ 11th transaction in the United Kingdom.

M&A Deal Summary
Date 2020-07-01
Target ASK Central
Sector Restaurants
Buyer(s) TowerBrook Capital Partners
Sellers(s) Bridgepoint
Deal Type Secondary Buyout

Target

ASK Central

Herts, United Kingdom
ASK Central operates with ASK and Zizzi are names in the UK casual Italian dining market with about 120 and 90 locations respectively across the UK. ASK restaurants are situated in prime positions with each restaurant generally having a unique design. ASK Central was founded in Herts, United Kingdom.

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Buyer(S) 1

Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.

DEAL STATS #
Overall 69 of 99
Sector (Restaurants) 1 of 2
Type (Secondary Buyout) 20 of 28
Country (United Kingdom) 11 of 19
Year (2020) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-19 CarTrawler

Dublin, Ireland

CarTrawler is a technology company providing fully managed online car rental solutions to travel partners in 174 countries. Working across all travel industry segments and geographic markets, CarTrawler enables online travel retailers to add car rental to their portfolio of products and services, creating an additional revenue stream that requires no investment on their part. CarTrawler was formed in 2004 and is headquartered in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-17 Azzurri Group

London, United Kingdom

Azzurri Group is a restaurant operator in the casual dining sector offering Italian food under the Zizzi, ASK Italian and Coco di Mama brands in the UK and Ireland. The Group employs over 6,000 people, serving more than 20 million meals a year across their portfolio of restaurants. Azzurri Group was founded in 2014 and is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

Bridgepoint

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 28.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Bridgepoint is a large European private equity firm that invests in middle-market companies across a broad range of industries with an enterprise value of €200 - €1000 million. Prospective transaction situations include buyouts, buy-ins, growth financings, consolidations, and take privates. The firms invest in the range of €75 - €400 million transaction. Bridgepoint Development Capital specializes in investments in businesses valued up to a €150 million, taking equity stakes of between €10 million and €75 million. General sectors of interest include consumer products and services, retail, financial services, healthcare, media, technology, industrials, and business services. Bridgepoint was formed in 1984 and has offices in London, Frankfurt, Luxembourg, Madrid, Milan, Paris, Stockholm and Warsaw.

DEAL STATS #
Overall 85 of 109
Sector (Restaurants) 2 of 2
Type (Secondary Buyout) 50 of 65
Country (United Kingdom) 41 of 50
Year (2020) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-25 Matrix

Milton Keynes, United Kingdom

Matrix is a managed service provider for the outsourced hiring and management of temporary local government staff in the UK. Matrix is a technology-enabled services business where it acts as a neutral intermediary between clients - typically local government organisations known as Local Authorities ('LAs') - and a nationwide pool of approved recruitment agencies, vetted to ensure compliance with relevant regulations. The model it operates is highly attractive to this customer base, offering visibility and control of recruitment spend, high fulfilment rates and access to a large number of accredited candidates. Matrix was founded in 2008 and is based in Milton Keynes, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 KGH Customs Services

Göteborg, Sweden

KGH Customs Services is a well-known and respected partner to a wide range of authorities, providing valuable consulting and advice, most recently in the connection with Brexit, as advisors to various authorities in the EU and the UK. KGH is based in Gothenburg, Sweden.

Sell kr2.6B
Mergr

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