Double exit for Risk Capital

Private equity investment group, Risk Capital Partners, has announced it has completed two end-of year exits in Seafood Holdings and Interquest Group.

The firm, headed by restaurateur and former Channel 4 chairman Luke Johnson, last month sold its 24 per cent share in Seafood Holdings in a £45 million disposal to Bidvest, the South African owner of the UK food distribution business 3663.

Risk Capital took a stake in the company, founded by Toby Baxendale, in 2006 and provided development capital to expand the fresh fish distribution business across the UK. During the firm’s investment, Seafood Holidays made eight acquisitions and grew revenue from £35 million to £80 million.

Risk Capital also disposed of its entire holding in AIM-quoted IT staffing provider Interquest Group in a private placing to new investors. The firm originally bought into the company, led by Gary Ashworth, in 2001 to provide funding for a buy and build programme. Revenue grew from £8 million to over £95 million in the period.

Johnson, chairman of Risk Capital, comments: ‘Our profitable exits from both Seafood Holdings and Interquest Group demonstrate our continued ability to generate capital gains, even in the current financial climate.’

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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