Overview
In June 2006, we backed the management buyout management buyin ("BIMBO") of etc.venues, one of London's leading independent providers of meeting, training and event space. We initially provided £6 million of funding with a commitment of £4 million follow-on investment. Allied Irish Bank provided bank debt of £10.5 million.

Deal Features
We were instantly attracted to the business as it had a proven management team in an established business with strong growth potential. The incumbent management team demonstrated they had the skills to build a successful operation in the fiercely competitive London arena. We are confident that they can replicate this success at a regional level and agreed to provide the funding to facilitate a roll out across the UK. The team has been strengthened with the introduction of Alastair Stewart joining the business as Managing Director. Stewart has 20 years experience in the conference venue market, a sector which has been estimated to be worth £12 billion in the UK.

Business Description
etc.venues was founded in 1992 by Sally Wilton when the first venue, Avonmouth House, was opened in South London. Wilton expanded the business with six training and conference venues now in operation across London. All venues are purpose designed and renowned for their well resourced facilities, range of flexible rooms and layouts, central locations and high levels of service.

etc. venue's perspective
"We aligned ourselves with Dunedin for a number of reasons. We were impressed with the team - they don't just wheel out the decision makers for the pitch, we dealt with the key Dunedin people right from the start. Dunedin's experience in the hotels and leisure sector was also a defining factor in our decision. We found Dunedin to be fast and effective during the transaction. They took the time to understand our business drivers at the outset and thus are making a welcome and positive contribution to the strategy going forward." Alastair Stewart, Managing Director, etc.venues