Patron Capital Partners has bought nearly a third of five-aside football centre operator Powerleague.
The fund manager has paid £23.1m for a 29% stake in Powerleague – which operates 43 sites across the UK.
The companies said they would work together to expand Powerleague in the UK and overseas.
‘We were attracted by the strength of the management team, the commercial proposition and growth potential, supported by strong asset backing and stable cash flows,’ said Keith M. Breslauer, managing director of Patron Capital. ‘Patron benefits from a wide network of global relationships within the leisure and sports industries as well as a wide reaching support team and partner network in the UK and across Europe.’
‘We firmly believe that these assets can be applied successfully to Powerleague, in order to help facilitate further UK and European expansion.’
Breslauer has joined Powerleague as a non-executive director along with former Healey & Baker senior partner Paul Orchard-Lisle.
Patron bought the stake in shares from Powerleague executive chairman Claude Littner and chief executive Sean Tracey who now hold just less than 7% of the shares.