Private equity groups show interest in Inventive Leisure

First-round bids for the 66-strong business were due in on Monday this week and it is thought that groups such as Silverfleet, which previously backed Paramount Restaurants, and Equistone Partners Europe, the independent investment firm owned and managed by the former executives of Barclays Private Equity, are among interested parties.

It is understood that TDR Capital has shown an interest in Inventive.

The backer of Stonegate Pub Company is also thought to be keeping a close eye on rival late-night venue operator Novus.

Offers for Inventive, which is led by Roy Ellis, have been placed at £90m.

The group has been owned by Alchemy since 2006 when it was taken private after four years on the Alternative Investment Market.

Alchemy appointed DC Advisory Partners to sell the business earlier this year.

The group expects to open five units this year including a third site for its stand-alone Revolución de Cuba rum-bar concept.

It has acquired the lease on a 7,559sq ft site in central Cardiff for the brand.

Earlier this year, Ellis said that the company could eventually expand to around 120 sites.