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NEWS
Charterhouse keeps Tussauds
POSTED 08 Dec 2003 . BY
The sale of Tussauds Group by private equity firm Charterhouse Development Capital (CDC) stalled late on 5 December after CDC decided to recapitalise instead of accepting offers from either of the two remaining bidders.

Charterhouse put the entertainment group up for sale in the summer via an auction run by investment bank Lazards and two bids were subsequently received – from venture capitalist organisations PAI and London-based BC Partners.

However, the bids – believed to be at £750m and £800m – were significantly below the sought offer of £900m and were deemed not to ‘truly reflect the value of the group’s business’.

Charterhouse has subsequently decided to retain the Tussauds Group and recapitalise over the next two years while expanding the group’s business interests.

A spokesperson said: “Charterhouse decided the bids received did not fully reflect the value of the group and has therefore decided to retain its investment and is committed to funding the future growth plans of Tussauds.”

Charterhouse has owned Tussauds since 1998 and expanded the group from six to 13 attractions. Earnings have doubled from £30.7m in 2000 to £65.1m in 2002.

MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
+ More news   
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COMPANY PROFILES
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Vekoma Rides has a large variety of coasters and attractions. [more...]
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The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
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Founded in 2014, Red Raion is the CGI studio for media-based attractions. [more...]
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TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
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08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
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NEWS
Charterhouse keeps Tussauds
POSTED 08 Dec 2003 . BY
The sale of Tussauds Group by private equity firm Charterhouse Development Capital (CDC) stalled late on 5 December after CDC decided to recapitalise instead of accepting offers from either of the two remaining bidders.

Charterhouse put the entertainment group up for sale in the summer via an auction run by investment bank Lazards and two bids were subsequently received – from venture capitalist organisations PAI and London-based BC Partners.

However, the bids – believed to be at £750m and £800m – were significantly below the sought offer of £900m and were deemed not to ‘truly reflect the value of the group’s business’.

Charterhouse has subsequently decided to retain the Tussauds Group and recapitalise over the next two years while expanding the group’s business interests.

A spokesperson said: “Charterhouse decided the bids received did not fully reflect the value of the group and has therefore decided to retain its investment and is committed to funding the future growth plans of Tussauds.”

Charterhouse has owned Tussauds since 1998 and expanded the group from six to 13 attractions. Earnings have doubled from £30.7m in 2000 to £65.1m in 2002.

MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
Populous reveals plans for major e-sports arena in Saudi Arabia
Populous have unveiled their plans for a state-of-the-art e-sports arena, designed to stand as a central landmark in Qiddaya City’s gaming and e-sports district, Saudi Arabia.
Raby Castle reveals ambitious plans to become a major visitor destination
Raby Castle, known as one of the finest medieval fortifications in England, is nearing the end of an ambitious two-year renovation project.
+ More news   
 
COMPANY PROFILES
Vekoma Rides Manufacturing B.V.

Vekoma Rides has a large variety of coasters and attractions. [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio for media-based attractions. [more...]
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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