Bowmark still in running for Drake & Morgan deal
M&C Report revealed recently that Novus Leisure had pulled out of the running for the Jillian MacLean-led business after offering around £17m for the group.
It is thought that Bowmark and a further private equity group are now left in the process for the chain, which is believed to be hoping to realise a price closer to the high teens/£20m mark.
The Imbiba Partnership-backed group appointed PwC to review its strategic options for the next stage of its growth last year.
A MacLean-led, private equity-backed management buyout of the group now looks the likelier end result for the chain, although there have been suggestions that the business could be taken off the market and left to continue its steady expansion in the capital, if price expectations aren’t met.
It is set to open two new sites over the next few months in Holborn and the Happenstance in St Paul’s.
