Vivid dismisses sales talk - ToyNews

Vivid dismisses sales talk

Vivid Imaginations has dismissed a report in The Times that is about to be sold as ?highly speculative?. The story in The Times said that Phoenix Equity Partners, Vivid?s Imagination's...
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Vivid Imaginations has dismissed a report in The Times that is about to be sold as ?highly speculative?. The story in The Times said that Phoenix Equity Partners, Vivid?s Imagination's venture capital owner, was to conduct a strategic review of the company that could lead to a £150 million sale, which would value the holdings of Vivid?s 12 senior managers, including its two founders, Nick Austin and Alan Bennie, at roughly £5 million apiece and net tens of millions of pounds of profits for Phoenix.

According to the report, although Phoenix is not under pressure to sell Vivid, because private equity firms typically aim to hold an investment for three to five years, it is nonetheless keen to impress potential investors ahead of raising hundreds of millions of pounds of new investment capital this year.

Vivid MD Paul Weston dismissed the report, however, saying: ?Neither Vivid or the Pheonix board have any idea as to the source of the article. But it doesn?t surprise us because we?re a very high profile company in the industry and there?s always going to be talk of an exit at some point. As far as we?re concerned we remain fully committed to the business.?

By Ronnie Dungan

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