Marriott Harrison advised Mobeus Equity Partners and Connection Capital on a combined debt and equity package, alongside a stock facility from PNC Business Credit, to support the management buy-out of Virgin Wines, the major UK wine retailer founded in 2000.Mobeus and Connection backed the highly experienced management team of Virgin Wines, led by CEO Jay Wright, on the acquisition of the business from Direct Wines Limited who had in turn acquired the business in 2005.
Robert Henry, Partner of Mobeus commented: “This is another in a long line of transactions we and MH have worked on together, with our relationship stretching back to 1988 – MH has advised Mobeus and its predecessors (GLE Development Capital and Matrix Private Equity) since that time. We have received a consistently high level of service and care from MH over that time. Jonathan and his colleagues provide us sound professional and commercial advice in a straight forward way which works well for us”. Miles Otway, Investment Director of Connection added: “Jonathan and his team did a great job coordinating a multi-investor process, delivering to a tight timetable. Highly professional and very responsive they played a crucial part in getting this investment completed”.
Jonathan Leigh-Hunt (Corporate Partner) led the Marriott Harrison team, comprising Duncan Innes (Corporate Partner), Bob Cordran (Employment Partner), Hugh Gardner (Finance Partner) and associates Fran Spooner (Corporate) and David Bettis (Corporate).