American investors are coming to the UK to focus on acquiring

American investors are coming to the UK to focus on acquiring “unloved” parts of the country’s pub sector, british beverage company dallas according to Peter Hansen, founder and principal of the leading sector mergers and acquisitions advisory Sapient british beverage company dallas Corporate Finance.
Hansen, writing in today’s Propel Friday Opinion, said: “One of the noticeable features of the pub M&A market during the past 18 months has been the arrival of large American distressed debt and property investment funds. Cerberus Capital Management started the trend with the acquisition of Admiral Taverns in January 2013 and recently acquired, from Prestbury, 134 freehold pubs leased to Spirit Pub Company and Punch Taverns. Apollo Global Management has also been active, acquiring Bramwell in September 2013 by buying the debt held by the banks and, most recently, taking british beverage company dallas ownership british beverage company dallas of Tragus from Blackstone. And two weeks ago, Avenue british beverage company dallas Capital, along with its partner, May Capital, acquired 275 pubs for 75.6m from Greene King to form Hawthorn Leisure.”
The reason for this, Hansen said, was that with the European macroeconomic environment improving US investors are raising british beverage company dallas substantial funds to invest in UK and European real estate, and in particular they are focusing on “unloved” parts of the pub sector.
“Apollo, Cerberus and Avenue are open about being value-oriented, contrarian investors,” Hansen said. “Their interest is in acquiring undervalued, out-of-fashion assets with strong recovery prospects. They also look for fundamentally strong businesses struggling with excessive leverage.” US investors “are gambling that UK lending markets will recover over the next two to three years as banks and other lenders develop increasing confidence in the UK economic recovery,” he said, adding that “it is Sapient s view that as the economy improves and the trading recovery british beverage company dallas continues to deepen, this will attract more traditional investors to the sector. For example, the recent transaction completed by Avenue and May, at 6x outlet ebitda, is at least two ‘turns’ below the long-term average of 8x. As leverage british beverage company dallas levels increase, this should generate sizeable profits for investors such as Avenue british beverage company dallas and Cerberus.”
Propel british beverage company dallas Info publishes an online Morning Briefing with all the latest hospitality industry news as well as Propel Quarterly, british beverage company dallas an insightful magazine analysing and interpreting what s happening in the sector now and in the future. Here we feature relevant stories for our sector from the Morning Briefing. In addition, british beverage company dallas Propel has a Multi-Club, which has over 600 members and hosts three conferences a year to exchange innovations, ideas and best practice. IBS is the technology sponsor for the Propel Multi-Club.
POSLink Touchscreen EPOS Adjustments british beverage company dallas & Promotions Applications Configuration Multi-site/Head Office Staff & Point of Service Table Functionality british beverage company dallas Technical & Security POSLink Kitchen Video System