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Endless backs West Cornwall Pasty in first deal from Enact fund

14 Apr 2014

pound_sterling_170sqPrivate equity firm Endless has bought 35 outlets and the brand of West Cornwall Pasty Company, which is currently in administration.

This is the first deal from Endless’ Enact fund, which was launched three months ago.

Enact invested in the company alongside Bain Capital’s credit unit Sankaty Advisors.

Enact’s investment director Chris Cormack said, “This deal marks an exciting new chapter for West Cornwall Pasty Company. The business has struggled to cope with the effects of the pasty tax and a number of underperforming outlets.”

He added that Enact is currently in advanced talks with a number of businesses, expecting to announce further deals shortly.

Last month Endless made a return of six times from the sale of its stake in UK-based Acenta Steel to the company’s management.

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