Menzies turns to banker for expansion help
24 February 2000
Menzies Hotels has appointed merchant banker CCF Charterhouse to advise it on ways of raising money to expand the firm.
CCF Charterhouse will discuss the options with the group's chief executive and principal shareholder, Nick Menzies, including getting new financial backers, acquiring or merging with another company, or even selling Menzies.
An insider said: "Nick is extremely ambitious. To take the company to the next level, he needs to re-capitalise it and get financial backing."
Of the existing backers, he said: "Any venture capitalist wants to get their profit."
Menzies currently has 20 three- and four-star hotels, with 1,200 bedrooms.
