Bridgepoint backs Tilney MBO move

UK-based specialist investment house Tilney has undergone a management buyout with the backing of venture capital outfit Bridgepoint Capital. This move will allow Tilney senior management to continue their current business strategy, increase their equity stake in the company and create a healthy return for the previous owners, US-based Refco. According to Tilney, Refco saw the move as an opportunity to realise a good investment – Tilney has been growing quickly in the last few years and the weak dollar makes a sterling sale particularly profitable. Key details of the deal, including the...