etc. venues
Venue provider for training, meetings, events & conferences
Contributing Sustainable Development Goals
Background
We started our investment partnership with etc.venues in November 2012 following a secondary MBO transaction. The business is a leading B2B provider of specialist non-residential, city centre venues used for training, conferences, meetings and events.
Highly flexible venue solutions are provided to a wide range of blue chip clients and the company has built a reputation as a brand synonymous with excellent customer service and hospitality standards. They have become a market leader in the London venues market and during the period of our investment significantly expanded the venue portfolio leading to revenues doubling to c.£50m and EBITDA growing by over 2.5x.
In June 2018 we realised our partnership in etc. venues, through a transaction with US investors Gencom and Colony NorthStar, investing alongside Benchmark, a global hospitality company. A deal which has subsequently enabled the group to expand into the US market.
Strategic Clarity
Business Shape
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Strategy - Supported strategic agenda of developing the brand and venue proposition to expand further into the premium conferences and larger events market
Accelerating Growth
Commercial
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Sales/GTM - Investment in web development and digital booking system to drive new web sales
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M&A - 6 new venues were developed and opened during the period of our investment, including regional expansion to Manchester
People & Organisation
Leadership
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Senior Team - Development of senior leadership team with new hires across sales and technology
Talent & Culture
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People Function - Wider equity participation through option scheme
Platform for Success
Finance and Operations
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Finance Function - We played a key role in a significant senior debt refinance to fund significant expansion of the venue portfolio
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Operating Systems - Automation of internal systems and processes for efficiency as the business significantly scaled