Private Equity

Private equity newbies beat Terra Firma to Tesco asset

Firms backed by rich families take control of UK's second-largest specialist garden centre group in £217m deal

Dobbies Garden Centres is the second-largest specialist garden centre group in the UK
Dobbies Garden Centres is the second-largest specialist garden centre group in the UK Photo: iStockPhoto

Two new private equity firms backed by rich families have fought off competition from larger private equity rivals to acquire Dobbies Garden Centres from supermarket chain Tesco for £217 million.

Midlothian Capital Partners and Hattington Capital, which both operate on a deal-by-deal basis, fought off competition from private equity firm Terra Firma Capital Partners to acquire the company, according to a person familiar with the matter.

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