We Bought

We invested €25 million in 5àSec BV, the world-leading retailer in textile care services.

We Built

Through a carefully developed 5-year plan, we helped the Group to multiply its revenues six fold.
 More…

Milestone Capital exits Coffee Nation and generates a 3.7x return on its investment

02nd March 2011

Milestone Capital Partners LLP is pleased to announce the sale of Coffee Nation to Costa Limited (a subsidiary of Whitbread Group PLC)

Milestone Capital Partners LLP (“Milestone”), the Anglo-French private equity firm, is pleased to announce the sale of Coffee Nation, the UK market leader in self-serve gourmet coffee, to Costa Limited (a subsidiary of Whitbread Group PLC). The exit generates a 3.7x return on its original investment in under three years.

Milestone, specialists in buy-and-build investments, originally backed the secondary management buy-out of Coffee Nation in March 2008 with Investec Growth & Acquisition Finance providing the mezzanine finance on the deal. Since then, the business has almost doubled its footprint with installations growing from 550 in March 2008 to 900 at exit and has expanded rapidly into new markets such as Universities, Hospitals and Business and Industry.

Philip Conboy, Partner at Milestone commented:

Coffee Nation is a fantastic business led by an exceptional management team. Scott Martin (CEO) and Simon Vardigans (FD) have done a great job and have been ably supported by Mike Tait (Chairman). The sale to Costa will allow the business to continue its expansion into new sectors where there is further huge potential for the model to be rolled out. The next few years promise to be exciting times for the business and we wish the management team and staff all the best for the future.”

Scott Martin, CEO Coffee Nation commented:

“I would like to thank Milestone for their support over the last three years. We have delivered on the business plan we promised back in 2008 and a lot of the credit for this goes to the staff at Coffee Nation who always look to go the extra mile. I am looking forward to working with Costa to continue the growth in the future.”

Mike Tait, Chairman Coffee Nation commented:

“I was an avid Coffee Nation customer before being brought in as Chairman by Milestone. I have thoroughly enjoyed working alongside Scott and Simon in such a dynamic business and am extremely pleased to have been associated with the success of Coffee Nation.”

Coffee Nation Deal Team:

Milestone:

  • Philip Conboy
  • Colin Granger

Coffee Nation:

  • Scott Martin
  • Simon Vardigans
  • Mike Tait

Vendor’s legal advisers:

Osborne Clarke:

  • Paul Cooper
  • Amy Salmon

 

For further information, please contact:

 

Back to news section