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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.

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Jobs    News   Products   Magazine
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.

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London's Harry Potter studio tour to open Professor Sprout’s Greenhouse
Warner Bros. Studio Tour London will launch a new area on 1 July, further expanding the popular Harry Potter-themed visitor attraction in Leavesden.
Juneteenth Museum by Bjarke Ingels Group has been designed to inspire spiritual uplift
Detailed plans have been revealed for the National Juneteenth Museum in Fort Worth, Texas, US.
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COMPANY PROFILES
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
TOR Systems Ltd

TOR Systems have been in this business since 1981. [more...]
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
+ More profiles  
VIDEO GALLERY

Red Raion TV - Testimonial: Leolandia
When you work in the Attractions Industry, there’s nothing better than seeing that dreamy look in the eyes of the people who have just tried your attraction. Find out more...
More videos:
Red Raion Showreel 2021 – Red Raion
Red Raion Showreel 2021 – Red Raion
Red Raion TV - Opening Event: FICO Eataly World – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-04 Sep 2022

HEALING SUMMIT 2022 - The Healing of Everything

Pine Cliff Resort, Portugal
27-29 Sep 2022

International Congress on Thermal Tourism

Ourense, Ourense, Spain
+ More diary  
 


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