Suitors-a-plenty for Leisure Link

Duke Street Capital, the private equity group, has received several offers from investors for Leisure Link, the amusement machines operator.

Leisure Link came into existence in 1998 following a buy-out from Bass backed by Duke Street and valued at £70m.

A bid is expected from Legal & General Ventures, the UK private-equity firm, but competition will come in the shape of other UK players such as Electra Partners. A US slot-machine company is also thought to be keen. Further interest has come from Russell Hoyle, the chief executive of Leisure Link and a former managing director at Freetraders, a drinks wholesaler, according to the Financial Times.

In 2000 SG Hambros was appointed to start developing an exit strategy for Leisure Link which could include an IPO or sale.

Since first investing in Leisure Link, Duke Street has supported an acquisition spree which saw the company purchase BLMS from Bass, Stretton Leisure from Greenalls, a large stake in Maygay Holdings and E-Cast, a San-Francisco based e-media company.

Duke Street Capital is understood to be about six to eight weeks away from choosing a preferred bidder.