LG Sells The Big Picture

  • mar. 2007

Street Capital, an Irish fund, has backed the management buy out of
Harkness Hall, the worlds leading supplier of PVC Cinema Screens,
from Allen McGuire & Partners, in a deal negotiated Livingstone
Guarantee. This is the second time that the firm has sold Harkness
Hall in the last seven years.

LG director Nigel Morgan, who negotiated the sale on behalf of
Allen McGuire, says: “There are 100,000 cinemas in
the world. Harkness Hall has a worldwide market share of 50%,
together with supplying screen services to theme parks, screening
rooms and (particularly in America) home cinemas”.

“Screens have a finite life so, Harkness Hall, with its
dominance of this niche market, is able to guarantee a regular and
significant profit – something which makes the business attractive
to private equity houses.”

Located in Stevenage in the U.K., France and America, the company
cuts, welds, finishes and coats PVC before creating frames and
installing the screens where their skill in disguising any joins is
paramount.

Patrick Groarke, the LG partner who heads a dedicated specialist
manufacturing team, says: “The sale of Harkness Hall
to the management is the latest of a series of deals we have
completed for Allen McGuire. Because of the nature of the business
we were able to attract significant interest from the private
equity community and discussed a sale with a number of prospective
backers”.

“Street Capital came into the picture at a
comparatively late stage but offered the most attractive deal,
especially as it is headed by Vivian McGuire, a former chairman of
Harkness Hall”.

Patrick Groarke, Partner
Tel: 020 7484 4707
Email: patrick.groarke@livguarantee.com

Nigel Morgan, Director
Tel: 020 7484 4733
Email: nigel.morgan@livguarantee.com


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