Nordic bar and club operator REKOM has bought Deltic out of administration in a move that could save more than 1,300 jobs.
The deal, which includes 42 bars and clubs, was struck through REKOM UK.
REKOM Group operates more than 130 bars and clubs in Denmark, Finland and Norway and has been backed by Danish private equity firm CataCap since 2018.
REKOM UK is expected to merge with REKOM Group once Covid-19 restrictions are lifted.
Alantra advised on the deal. Its team was led by Bobby Fletcher and Sebastian Hougaard.
“We’re delighted to have assisted in the acquisition of this leading business at a very difficult time for the UK’s leisure and hospitality operators,” Fletcher said.
“Deltic was a successful and highly profitable business before the pandemic and this acquisition provides a lifeline for the vast majority of Deltic’s locations, as well as saving a significant number of jobs.
“The newly formed REKOM UK is well placed to thrive once Covid-19 restrictions are lifted with the backing of an incredibly ambitious owner and a highly credible and experienced management team.”
REKOM was also advised by Hill Dickinson (Legal). BDO acted as administrators and were advised by Freeths (Legal).