Liberty Corporate Finance is pleased to announce the completion of the HgCapital backed Management Buyout of the Cornish Bakehouse.

Liberty Corporate Finance advised HgCapital on their investment in this chain of high growth “grab & go” food retail outlets which are primarily based in the South West. As part of the deal a highly capable retail management buy-in team responsible for the rollout of The Perfume Shop joined the business on completion and have developed a roll out plan to aggressively grow the business over a 3 to 5 year period.

Liberty were involved in project managing the transaction for HgCapital and assisting management in the preparation of a business plan and forecasts, raising debt for the deal and advising on working capital and other deal issues.


Simon Hill from Liberty commented: “This was a complicated transaction requiring a creative approach and a high level of commitment from all parties which ultimately led to a successful completion. The team that HgCapital has backed have proven experience in rolling out a retail concept with the highly successful Perfume Shop, their experience and expertise will take the Cornish Bakehouse rapidly through its next phase of growth.” Ian Moore from HgCapital commented: “We see this business as a platform to roll out the concept across the UK and deliver significant returns to our investors and the management. Liberty provided advice and solutions through the process, as well as additional experienced resource, which ultimately ensured a successful completion.”

PREVIOUS DEAL ANNOUNCEMENTS

Camden Corporate Fleet Services

20 September 2007

Liberty Corporate Finance is pleased to announce the completion of the Barclays Private Equity backed Management Buy-out of Leighton Buzzard based Camden Corporate Fleet Services.