Charles Russell Speechlys advises management on The Groucho Club buy-out
22 June 2015
Charles Russell Speechlys has advised the management of The Groucho Club, London’s premier members-only media establishment on the sale of the club by Graphite Capital to the management team and others.
The deal will provide funds to open a second Groucho Club in New York, with plans afoot for a third club in the pipeline.
The management buy-out was backed by Alcuin Capital Partners, Isfield Investments and a number of high net worth individuals. Graphite Capital also retains a stake in the club.
The management team comprises Matt Hobbs, Chief Executive, Ken Steven, Finance Director and Nick Hurrell, Chairman.
Matt Hobbs said, “This year we are celebrating the 30th anniversary of The Groucho Club and we are extremely ambitious for its future in America and beyond. We are excited to welcome the backing of Alcuin and Isfield alongside Graphite in this new chapter for the club and its members.”
Matt went on to say “Andrew and the team at Charles Russell Speechlys provided us with invaluable guidance and support throughout the process. The transaction was complicated and involved a number of advisers, but Andrew’s practical approach and commercial attitude steered us to a satisfactory conclusion.”
The Charles Russell Speechlys team was led by Corporate Partner Andrew Clarke with assistance from Corporate Associate Holly Sage.