Olswang has acted for leading UK mid-market private equity specialist Graphite Capital together with the other shareholders on the sale of The Groucho Club, London's premier arts and media members' club, to its current management team.
 
The deal, announced on 9 June, sees The Groucho Club Chief Executive Matthew Hobbs complete a buyout of the club, backed by Alcuin Capital Partners, Isfield Investments and a number of other individual investors. Graphite Enterprise Trust, the investment trust managed by Graphite Capital, has rolled over its existing investment and will remain a significant shareholder in the club. Olswang also acted for Graphite Enterprise Trust. The new ownership and funding structure is designed to support the continuing success of the club and provide a platform for overseas growth.
 
Graphite Partner Omar Kayat commented: "The Groucho Club is a unique institution. It has been a rewarding experience playing a role in helping strengthen and expand the business. The Olswang team not only understands our history with the club and our business, but it has an excellent track-record in corporate deals in the leisure sector. We appreciate Nick and his team's expert legal work on the deal, which helped us to successfully complete this MBO while continuing to support The Groucho Club as a shareholder in the next phase of its growth."
 
"It was a pleasure to advise the shareholders and in particular long-time client Graphite Capital on this MBO," said Olswang Corporate Partner Nick Crosbie. "It was gratifying to leverage our corporate advice with our deep experience across the leisure sector in restaurants, bars and clubs, and we look forward to supporting Graphite as they continue as an investor in this fantastic institution." 
 
The Olswang team was led by Corporate Partner Nick Crosbie, with assistance from Tom Jameson, Georgina Ball and Tom Hutchinson (Corporate); Matthew Wentworth-May (Tax); Fiona Smith (Real Estate); and Anne Chitan (Finance).