Salans LLP advised London-based private investment company and owner of Little Chef restaurant
chain, RCapital, in its acquisition of Morses Club alongside the existing management. RCapital
bought the leading provider of home collected credit from Ernst & Young LLP, the Administrators
of its past owner, London Scottish Finance, for an undisclosed amount.
RCapital is a private investment boutique with its principals each having over 20 years
experience in the financial turnaround of distressed companies within the UK. RCapital's current
portfolio also includes investments in recruitment consultant TPP and Freshfayre, the chilled food
company.
With a current turnover of £33 million, Morses Club is a leading nationwide provider of home
collected credit. "Morses Club is a great business with an extensive customer base and led by
strong management. However it had become neglected and ultimately completely lost within a large
corporate entity which had become insolvent", says Jamie Constable, managing director at
RCapital.
A Salans' London team led by corporate partner, Jonathan Polin, with assistance from
partners, Sonia Jordan,
Tatiana Kruse, Greg Thwaites, consultant, Alison Gaines, and associates,
Esther Langdon, Kate O' Neill and Abigail Townley, acted for
RCapital.
Jamie Constable at RCapital commented: "It was an extremely complicated transaction which was
completed in an incredibly short timeframe. Without the focus and dedication of our legal team, it
would never have happened."
Denton Wilde Sapte acted as legal advisers to the Administrators and the law firm Martineau
acted for the management team.
Jonathan Polin at Salans LLP commented: "This deal proves that lawyers need to be practical,
commercial and sensible in achieving client's objectives under extreme pressure."