Private equity baron Hands eyes voyage with Boatfolk marinas
Sky News has learnt that Terra Firma Capital Partners, the buyout shop now run by Mr Hands' son, Richard, is among the remaining suitors for Boatfolk, which has been exploring a sale for several months.
The elder Mr Hands retired from his full-time roles at Terra Firma two years ago, having built it over several decades into one of Britain's most prominent private equity groups.
Among its investments - some of which turned out to be financially and reputationally notorious - were the music company EMI, the care homes operator Four Seasons Health Care and Annington Homes, the former owner of thousands of Ministry of Defence homes.
More recently, it has focused on managing Mr Hands' family's money, although it does still have some external investors.
Its interest in Boatfolk is unsurprising, given the company's underlying property portfolio.
Owned by Mansford, a prolific investor in real estate assets, Boatfolk owns marinas at East Cowes on the Isle of Wight, Weymouth in Dorset and Royal Quays in North Shields.
Its portfolio comprises 11 sites in total.
The identities of other bidders for Boatfolk was unclear on Friday, although industry sources speculated that Crestline, an investment firm, could be among them.
The Boatfolk auction is being handled by CBRE, the property agent.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
29 minutes ago
- Daily Mail
Revealed: The top reason why precious local businesses are being forced to shut up shop - and it's NOT the cost of living
With mass closures of beloved UK chains like Poundland, Claire's and Hobbycraft, it is no secret the British high street is in serious decline. But with a web of interlocking reasons, from the cost-of-living crisis, to changing shopping habits, to rising employer costs in the autumn Budget, it becomes difficult to unpick exactly why. It has been revealed in exclusive data obtained by the Daily Mail it is personal reasons like health or family most commonly behind the loss of most of our precious local shops. Some 34 per cent of UK business owners have considered closure in the last year for this reason, according to new figures from personal finance firm NerdWallet UK. Meanwhile, falling customer demand (31 per cent) and supply chain issues (30 per cent) are next most often behind businesses being on the brink. There are 29 per cent of stores experiencing financial difficulties, while 28 per cent struggle with increased rent or property costs. And staff shortages were the thorn in the side of a quarter of businesses, as per the survey of UK business owners. These varied crises come after more than 13,500 shops closed last year, up 28 per cent on 2023, according to the Centre for Retail Research. And they are only set to get worse, with formerly key shopping periods like Black Friday due to be far less lucrative than previous years. In fact, some 28 per cent of Brits plan to spend nothing on the huge blowout sales day in November this year, as per NerdWallet UK numbers. The firm's spokesperson Sarah Fleming said: 'In 2025, we're seeing this trend continue - with high street favourites like Poundland, Brewdog, Morrisons cafés/stores, and WHSmith closing shops across hundreds of locations in the UK.' Across just these brands, with others beyond them on the chopping block too, nearly 300 units across the UK are set to bring their shutters down for the last time this year. She continued: 'A growing number of high street banks are also closing branches this year, including Natwest, Santander, Lloyds, Halifax and more.' This is much to the chagrin of customers who rely on these more than 100 branches set for the axe this year for vital financial advice and support. Against such a bleak backdrop, British business owners are considering taking increasingly drastic steps to survive. Some 36 per cent of businesses plan to raise their prices, by an average of a whopping 14.5 per cent in the next 12 months. A quarter, meanwhile, are desperately searching for ways to cut energy costs behind the scenes. Ms Fleming said the solution for embattled shopkeepers could be to move more of their attention online in a 'bricks and clicks' hybrid approach. It worked well for M&S this year, for instance, she said, who brought out its viral strawberries and cream sandwich to celebrate this year's Wimbledon tennis tournament. A well-placed video that happens to go viral could work wonders - more than 55 per cent of British internet users, or around 30million people, watch at least one every day. The crunch time to catch shoppers looking to splash the cash on Black Friday, Cyber Monday or for Christmas is to plant the seed by teasing offers around early November, she said. 'The narrative is really clear though', Ms Fleming continued: 'Many Brits really care about small businesses.' In fact, as many as a quarter of UK customers surveyed said they would go out of their way to pay cash to a small business, just to help them avoid transaction fees. But it may not be quite that easy to throw our favourite local shops a lifeline. 'Ultimately at the same time, [shoppers] also face the increased cost of living and rising debt', Ms Fleming said. The average British consumer has an eye- watering more than £12,000 in debt, NerdWallet UK showed. Her forecast was grim: 'Inflation, energy costs, and recessionary pressures are reshaping not just the high street, but the very way UK businesses operate. 'Without targeted support, many smaller, family-run shops, cafés, and pubs may not survive: leaving the high street stripped of both local stores and the banks that once defined them.' Across both massive household name firms and smaller independent businesses, the country's favourite shopping spots are feeling the pinch. River Island recently joined the list of brands looking to cut down its national network under sweeping plans which could put thousands of jobs on the line. The embattled retailer has unveiled a radical restructuring plan in a bid to reverse recent losses due to a slump in trading. Bosses blamed the closures on the 'migration of shoppers from the High Street to online' and higher costs to run stores. Meanwhile, the Original Factory Shop (pictured, file photo), which sells everything from shoes and garden benches to perfume and kitchen roll, has also announced a number of store closures in recent months The family-owned retailer confirmed it is proposing to close 33 of its 230 stores by January next year as a result. A further 71 stores are also at risk depending on talks with landlords in order to secure improved rental deals. Meanwhile, the Original Factory Shop, which sells everything from shoes and garden benches to perfume and kitchen roll, has also announced a number of store closures in recent months. It is a fresh blow to shoppers wanting to buy their everyday items in person in shops rather than online. The retail sector is being hammered by higher wages and employer national insurance contributions announced, resulting in a large number of job losses and even more empty shops on Britain's ailing high streets. Meanwhile, some of what are supposed to be our country's best tourist destinations are struggling just as much to keep smaller business booming. More than two million visitors make a pilgrimage to Stratford-upon Avon every year as they pay homage to the birth place of the most celebrated playwright in history. The medieval market town is beautifully adorned with quaint gift shops and cobblestoned streets, and surrounded by the smell of freshly made fudge. Every summer, crowds of literature fans from across the world queue up outside William Shakespeare's Birthplace museum and the Royal Shakespeare Theatre is packed out as actors take to the stage. From looking at the busloads of international tourists queuing patiently to enjoy Stratford's 800-year history, this bustling town is the last place you would imagine to be in 'decline'. But there is a side of the town locals are less proud of. A host of high street names have shut down, while Turkish barbers and vape shops have popped up, rough sleepers have set up bases on vacant shopfronts, and gangs of yobs roam around wearing balaclavas. One woman, speaking anonymously to the Daily Mail, even opened up about how she was recently sexually assaulted by a man wearing a balaclava in the town centre, and now fears walking alone at night. Just under 50 miles away, in Walsall, West Midlands, families living along the once thriving high street described it as a 'dying ghost town' after more than 40 shops closed their doors. It was once the beating heart of the UK's leather and saddle trade before becoming a 'destination' retail centre with a range of trendy independent stores and top chains. But depressing photos have shown how far downhill the town has gone in recent times, with many businesses now boarded up, featuring smashed windows and covered in graffiti. The market town was recently named the second lowest rated area in England to start a business and previously had one of the worst empty shop rates in Britain.
Reuters
29 minutes ago
- Reuters
Investment fund sues Marex over alleged use of confidential information for trading position
LONDON, Aug 20 (Reuters) - An investment fund has filed a lawsuit in London against commodities broker and financial group Marex , alleging it used confidential information from the fund to support its own trading position, according to a court filing. London-based Marex Group plc declined to comment on the legal action. A court filing on August 7 by lawyers for Ocean Freight Trident Offshore Master Fund Limited against Marex said exact damages would be specified in the future, but would be at least 10 million pounds. The court document said the fund, registered in the Cayman Islands, opened an account with Marex in April 2024 and deposited $30 million, adding $12 million to the account between June and November. Marex liquidated the fund's entire positions in November 2024, the lawsuit said, without giving details of the positions. "In doing so as it did, the defendant purported to exercise its powers for the improper and collateral purpose of supporting its own proprietary trading position, adopted with the benefit of information that was confidential," the court filing said. John Hahn is chief investment officer and president of the manager of the fund, Ocean Freight Capital Management LLC, which is based in the U.S., it added. LinkedIn shows Hahn is based in Los Angeles and runs Ocean Freight Exchange, an AI platform for the shipping industry. Hahn previously worked for commodity traders Noble Group and Louis Dreyfus Company, LinkedIn showed. Hahn did not immediately respond to a request for comment.
Telegraph
29 minutes ago
- Telegraph
Arsenal hijack Tottenham's deal for Eberechi Eze
Arsenal have made a dramatic move to hijack Tottenham Hotspur's bid to sign Crystal Palace star Eberechi Eze after Kai Havertz suffered a knee injury that has left the club sweating on his fitness. Havertz is still waiting on the full prognosis of his injury that is a blow to head coach Mikel Arteta, but Arsenal have not wasted any time in reviving their interest and attempting to steal Eze from under the noses of Spurs. Tottenham had been close to sealing a deal to sign Eze for around £55m plus add-ons with the player ready to join them, but sources claim he will favour a move to Arsenal if both clubs can agree a fee with Palace. Arsenal are believed to be ready to offer a total package worth over £60m for Eze with sporting director Andrea Berta leading the pursuit of the player and an agreement is expected to be reached. Crystal Palace manager Oliver Glasner on Wednesday claimed that Eze will play for his team in their Europa Conference League play-off against Fredrikstad on Thursday night. It is believed that Spurs are ready to move on to other targets if Eze moves to Arsenal in what would be a bitter blow to head coach Thomas Frank and chairman Daniel Levy. Tottenham have enjoyed some success this summer with the signings of Mohammed Kudus and Joao Palhinha, and agreeing a new contract with captain Cristian Romero. But the club missed out on Morgan Gibbs-White and losing Eze to Arsenal will undoubtedly anger supporters. Sources had expected Arsenal to initially look at the loan market or for cheap options to find cover for Havertz, but the club instead swiftly revisited their interest in Eze as Tottenham failed to close a deal for the player. Tottenham had even discussed the possibility of allowing Richarlison to move in the opposite direction to Eze, to Crystal Palace, to free up funds and space to then rival Newcastle United's bid for Yoane Wissa. It remains to be seen whether or not Arsenal will try to make any sales if they sign Eze after Leandro Trossard, who had been tipped to move away, signed a new contract on improved terms. Arteta cannot afford another attacking crisis, having been forced to play midfielder Mikel Merino as a makeshift striker last season. The club have signed striker Victor Gyokeres and winger Noni Madueke this summer, but Gabriel Jesus has not played since January and Havertz's injury could leave Arteta short of forward options.
