The Company & Our Investment
In January 2008 Octopus announced the £9.75m MBO of the UK's leading chauffeuring services business, Tristar Worldwide Chauffeur Services.
Tristar is one of the world's leading chauffeur companies, carrying over 500,000 passengers for 400 clients in the last year alone. The business operates in 60 countries, with its own vehicles in the UK and a rapidly expanding service in the US and Hong Kong. It has a blue chip customer base which includes Virgin, Emirates, BP, Goldman Sachs and Merrill Lynch.
"We were able to offer a competitive blended financing package to management that ultimately enabled us to win the deal in a competitive buy-side process. The combined deal structure segments the returns between our two funds offering a preferred, yield based, return for Octopus while leaving us with a greater share of the upside and enhanced returns in the event of base case performance or better."
Chris Allner, Octopus Investments
