News
Cavendish Corporate Finance announce the sale of Searcy
26 June 2007Cavendish Corporate Finance is pleased to announce the sale of Searcy, the premier British private catering company, to The Alternative Hotel Group for an undisclosed sum.
Searcy, founded in 1847, has a prestigious and diverse client portfolio which spans business, industry, arts and cultural contracts. It provides a range of services from restaurants, bars and cafés to banqueting and boardroom dining.
Current contracts include the Royal Opera House, 30 St Mary Axe ('the Gherkin'), the National Portrait Gallery, the Barbican Centre, the Hurlingham Club, The Pump Room in Bath and Mercedes-Benz World. Exciting new contracts due to open in late 2007 include St Pancras International, which will feature a Champagne bar, brasserie, bar/café and private dining, and the London Transport Museum.
The Alternative Hotel Group, established in 2005, is a joint venture with The Bank of Scotland and comprises De Vere Hotels and Village Hotels, which includes a total of 34 hotels and 26 conference venues throughout the UK.
The transaction follows Cavendish's recent mandate advising on the successful sale of Ma Potter's Restaurants to Tragus earlier this year and builds on an extensive track record in the catering and restaurant sector, which includes clients such as Aroma, Belgo, Brannigans and the Academy Music Group.
Nigel Goodhew, co-owner and Deputy Chairman of Searcy, commented:
''The Cavendish team gave helpful advice and drove the process every step of the way, through a potential buy-out, demerger and the eventual trade sale. Your depth of experience really came into its own during the final stages with some finely-judged negotiations to conclude the deal.''
Cavendish contacts for further information:
[Jonathan Buxton], Director, Consumer Group
Nadia Sayeed, Executive