Due to be completed next week, the deal has seen Risk Capital beat off fierce competition from the likes of Arena Leisure and Phoenix Private Equity to acquire GRA from its existing holding company Wembley Plc.

A source close to Risk Capital believes the company managed to outpace its rivals due to its almost unique structure. Alongside Johnson, the Risk Capital team comprises just two other partners (Ben Redmond and Mark Farrer-Brown) and as a result, says the source, ‘they can move very quickly on decisions and deals, which gives them a big advantage over potential quoted company buyers and fellow venture capitalists.’

For its money Risk, which also owns a series of top London eateries – including The Ivy, Le Caprice and the Belgo chain, is gaining a portfolio of six racing tracks. These include Wimbledon (home of the greyhound Derby), Perry Barr in Birmingham and Belle Vue in Manchester.

Combined, GRA’s business generated a profit of £3.6 million last year.

For further information visit: www.riskcapitalpartners.co.uk