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PRINT THIS PAGE Electra Partners Europe completes acquisition of premium bar operator Urbium18/10/2005. Source: AltAssets. 
 European mid-market private equity specialist Electra Partners Europe has completed its acquisition of Urbium through acquisition vehicle Lightflower Acquisition. The transaction price of 1075 pence per share values the company at approximately £155m.
Urbium is a bar operator with 36 outlets located in major urban markets across the UK, 27 of which are in London. The company operates at the premium end of the market, targeting the 21 to 35-year-olds. The estate includes 'Tiger Tiger', a bar, club and grill concept situated in the centre of eight major UK cities, with a ninth due to open in Cardiff later this month. The majority of the remaining estate is unbranded but includes some individually well-known sites including Sugar Reef and Zoo Bar.
Following the transaction Stephen Richards will remain chief executive of Urbium and finance director Steven Palmer will also continue in his role.
Damien Lane, partner at Electra Partners Europe, said, 'As Urbium enters the next stage of strategic development, its operational strength, solid revenue base, excellent management team and strong market presence offer the company a variety of exciting organic and strategic growth opportunities.'
Electra Partners Europe advises funds in excess of €2bn. The investment team has an established track record of investment in these sectors: business services, industrial, consumer-related industries, financial services and healthcare services and equipment.
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