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Boat International in MBO
Boat International, a publisher of super yacht magazines, has been bought by its management for £29 million from funds managed by Henderson Private Capital. The deal was backed by August Equity with debt from Lloyds TSB Corporate Markets.
August appointed Parthenon, a business consultancy, to manage a commercial due diligence review of the target company, which was led by senior principal and head of private equity Mark Jeynes.
Jeynes said the firm is familiar with Boat’s business having examined it when Henderson bought the company in 2004.
“Given that the business had been subject to an MBI only two years ago and that Parthenon already had a good understanding of Boat International and its markets, we were able to complete the commercial due diligence review within two weeks,” he added.
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