Our ability to rationalise assets and exit deals profitably is typified by our work with this chain of adult gaming centres (AGC).

We initially purchased the assets of a business operating ACGs in and around London on behalf of a Gibraltar-based trust.

The business was acquired for £4.5m plus obligations amounting to a further £3.3m from administrators Baker Tilly.

We signed a management contract with the previous owners, but two months later took full control.

The number of AGC premises was rationalised from 120 to 85, with our team orchestrating the exit from superfluous leases.

The right-sized business had a turnover of approximately £22 million and an EBITDA of around £4 million.

After negotiating the transactions and management agreements, the venture concluded successfully with the sale of the business to Marwyn Group for £15.4 million, generating substantial returns in just 14 months, with Toby Hunter remaining as a director until final payout 22 months thereafter​.

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