TGI Fridays UK division sold in management-led buyout

TGI Fridays UK division sold in management-led buyout

London-based Electra Partners invests $155 million in deal

London-based private-equity firm Electra Partners is acquiring the 66-unit TGI Fridays division in the United Kingdom in a management-led buyout, the investment company said Tuesday.

Electra said it was investing £100 million, or about US$155.3 million, of equity in the deal, alongside Karen Forrester, chief executive of TGI Fridays U.K., and other members of management.

The deal, including debt, values the company at about £225 million, or US$395.9 million, a person w

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