UK mid-market private equity firm Primary Capital has backed the £35m management buyout of Leisure Pass Group, a company that sells passes for tourist attractions in cities including London, Berlin, Paris and New York.
The firm, whose other investments include card and gift wrap retailer Paperchase and software company Amtech Group, bought the business alongside its incumbent management.
Primary Capital closed its third fund, Primary III, on its hard cap of £200m in 2006 – double the size of its predecessor. The firm’s £61m inaugural vehicle made investments in Lowthers Food, Pegasus Security, Elisabeth the Chef and Coffee Nation.
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