etc. venues

Provider of venues for training, meetings, events and conferences

Sector
Services
Region
London
Date of investment
November 2012
Exit date
June 2018
GCP team members
Website
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.

People & Organisation

  • Wider equity participation through option scheme
  • Development of senior leadership team with new hires across sales and technology

Funding for growth

  • We played a key role in a significant senior debt refinance to fund significant expansion of the venue portfolio

Driving Growth

  • Supported strategic agenda of developing the brand and venue proposition to expand further into the premium conferences and larger events market
  • 6 new venues were developed and opened during the period of our investment, including regional expansion to Manchester
  • Significant capital was deployed mid-way through our investment period to support the premium venue development at London’s County Hall

Systems & Processes

  • Investment in web development and digital booking system to drive new web sales
  • Automation of internal systems and processes for efficiency as the business significantly scaled

More Realised Investments