FANDOM



Symbol opinion vote Comment: Have a check at WP:REFB on how to reference. At present there are links just placed in the text. Don't use the Greybull website if at all possible.
The links must support the facts. Rankersbo (talk) 08:08, 5 November 2014 (UTC)


Company Structure

Greybull Capital LLP; Registered address; 32 Sloane Street, SW1X 9NR London. A limited liability partnership incorporated April 2010; Registered Nr.OC354497;.[1]

Greybull Capital's 4 members Nathaniel Jerome Meyohas, Marc Meyohas, Richard Cal Perlhagen and Greybull Corporate Partner Ltd;[2] : Greybull Corporate Partner Ltd, is owned 50/50 by Jerome Nathaniel and Marc Meyohas, formed July 2012 [3]

Greybull Capital say they "make long term investments in private companies" with a "broad portfolio spanning investments in the energy, technology, retail, industrial and manufacturing sectors in Europe and the United States".[4]

Greybull Capital is run by brothers Marc and Nathaniel Meyohas and longstanding family friend Richard Perlhagen. “We are a family-owned, family-run business with interests everywhere” Marc Meyohas said in a Sunday Times interview March 2012. Greybull was set up to invest the wealth of the two families, whose ties go back 40 years. The brothers’ father, a French corporate lawyer. Perlhagen’s father sold his Swedish pharmaceuticals empire for tens of millions[5]

Greybull described as secretive financiers and dealmakers. Their Sloane Street office has a blacked-out door with just a buzzer hand-labeled 'Reception' [5]. Greybull's website is 2 sentences on a single page, with an email address.[4]

Buy-outs, Backing & Negotiations

Plessey, semiconductors, 2010

Greybull supported management’s plans to restructure and re-develop Plessey Semiconductors Ltd, since 2010 and has financed add-on acquisitions[6]

New Era, petroleum, 2010

Greybull backed New Era Petroleum Inc, since 2010 with both working capital to develop its activities and capital to acquire and re-develop oil fields in the US[6]

Comet, electrical retailer, 2011

Greybull led the backers of OpCapita's buyout of Comet Group, November 2011[7], a 236-store business, employing 7,000 for £2; plus a £50m dowry paid by the past owner.[8]

Comet went into administration November 2012 [9]. Comet closes its last stores December 2012 [10]

Comet's administrators, Deloitte, said the collapse would cost the UK government £23m in redundancy payments and £26.4m in tax owed[11]; Deloitte's figures showed OpCapita recouped almost £120m from the insolvency [12]

A tribunal ruled, June 2014, that Comet did not follow redundancy rules, so an additional £26m must be paid by the UK Government, on top of the statutory redundancy it previously paid.[13]

Comet's collapse dubbed the biggest raid in British corporate history, November 2014. A Government statement said “The Secretary of State has concerns about the financial burden placed on the taxpayer caused by the collapse of companies such as Comet and is considering the options available”[13]

Game Group, game retailer, 2012

Greybull backed OpCapita's buyout of Game Group, a computer games retailer;[14]

Game was in liquidation; The administrators disposed of 277 shops, with 2,104 redundancies and sold 333 to OpCapital, safeguarding nearly 3,200 employees[15]

By May 2013 Game's accounts showed it owed its OpCapita-led parent company, Capitex Holdings, £103m, paying 7½% above Barclays base rate. The turn-around of Game was reported positive, with plans to open 18 more shops[16]

Paul Singer billionaire investor behind US hedge fund Elliott Management Corp, also backed OpCapita's buyouts of both Game and Comet;[14] : Eliott sold 13% of Game shares for £59m, reducing its stake to 48.3% September 2014 [12]

Rileys, sports bars, 2012

Greybull acquired Rileys, a UK sports bars and snooker hall group, through a pre-pack administration in 2012. It was reported, "Pre-packs can be controversial as they allow the new owner to shed a company's previous debts" [17]; Greybull shed about half of Rileys sites [18] : Greybull tried to sell the company in summer 2014 but no buyer was forthcoming and Rileys was placed in administration for a second time September 15, 2014. [19]

Metalrax, baking equipment, 2013

Marc and Nathaniel Meyohas of Greybull Capital, the directors of Bowman Birmingham, which acquired Metalrax out of administration. Almost 400 jobs were secured; April 2013[20]

Arc, engineering, 2013

Greybull fully financed Arc Specialist Engineering Ltd, a conglomerate of businesses in the steel industry and become its majority shareholder in 2013[6]

Constar UK, plastic bottles maker, 2014

Greybull Capital purchased the UK arm of Constar International Holdings for £4.3m, through Sherburn Acquisitions, a vehicle set up to handle the transaction; February 2014 [21] [22]. Rescue deal saves 140 Yorkshire jobs [23]

Murco, fuel stations & refinery, 2014 (negotiations only)

Greybull reported to be in "an advanced stage" in negotiations for between Murco Petroleum at Milford Haven; Reuters reported "The $500m deal could be signed in mid-April"; March 2014[24]

Monarch, airline, 2014

Greybull purchased 90% of Monarch Holdings Ltd, a UK airline, trading as Monarch, October 25, 2014 in return for £50m capital commitment the remaining 10% passed to Monarch's pension scheme : Greybull Capital's partner Marc Meyohas said: "We are delighted to acquire Monarch and invest our capital into a very strong brand with great potential" : Greybull's investment secured £125m of capital and liquidity facilities; Restructuring involved reducing its aircraft from 42 to 34, 700 redundancies & wage reductions[6]

References

  1. Greybull Capital Llp. Company Data REX.
  2. Greybull Capital's 4 members. companiesintheuk.co.uk.
  3. Greybull Corporate Partner Ltd's structure. check-business.co.uk.
  4. 4.0 4.1 Greybull Capital's webpage. greybull.co.uk.
  5. 5.0 5.1 Revealed: The dealmakers behind Comet crash. Sunday Times (December 2012).
  6. 6.0 6.1 6.2 6.3 Monarch's press release on getting Greybull financing (October 24, 2014).
  7. The man who crashed Comet. Sunday Times (November 5, 2012).
  8. Comet Backers Recoup 54m From Retailer. The Telegraph (November 5, 2014).
  9. Comet 'could cease trading by Christmas'. BBC (November 28, 2012).
  10. Government probes Comet collapse. Financial Times (December 18, 2012).
  11. Comet collapse to cost the government £49.4m. BBC (November 5, 2014).
  12. 12.0 12.1 ... Elliott sells £59m of Game shares despite lock-up agreement. Telegraph (September 18, 2014).
  13. 13.0 13.1 Vince Cable looks at ways to reclaim taxpayers’ cash lost in Comet collapse. Independant (November 6, 2014).
  14. 14.0 14.1 ... The Fall of a Highstreet Giant. The Independent (October 28, 2012).
  15. Game Group shops sold to OpCapita. BBC News (October 28, 2012).
  16. Game pays OpCapita owners more than £3.2m. Telegraph (May 5, 2013).
  17. Sports Bar Owner Rileys To Score With Sale. Sky News (July 8, 2014).
  18. Rileys Sports Bars placed in administration. Propel Info News.com (September 14, 2014).
  19. Rileys in Administration Again. Insolvencynews.com (September 16, 2014).
  20. Financiers Behind Metalrax Rescue Revealed. Inside Media (April 3, 2013).
  21. Constars Sold to Private Investment Group. Plastics News (February 26, 2014).
  22. Constars Sale. Bloomberg News (February 10, 2014).
  23. Rescue deal saves 140 Yorkshire jobs. www.insidermedia.com (February 21, 2014).
  24. Talks 'advance' on sale of Murco refinery. BBC News (March 27, 2014).

External links

This article uses material from the Wikipedia article Draft:Greybull Capital, that was deleted or is being discussed for deletion, which is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License.
Author(s): Bjelleklang Search for "Draft:Greybull Capital" on Google
View Wikipedia's deletion log of "Draft:Greybull Capital"
Wikipedia-logo-v2