The Deltic Group (Deltic)

Deal typeM&A & Accelerated M&A
Sub-industryRestaurants & Bars

Deltic was forced to close all of its venues following a government imposed national lockdown during the COVID-19 pandemic. With venues closed, cash flow was significantly impacted and the business was burning through its cash reserves. The decision was made to seek investors capable of funding Deltic through the period of cash burn until venues were able to re-open post COVID-19.

BDO’s Special Situations M&A Team was engaged to explore a potential transaction for the Deltic Group. BDO ran an accelerated transaction, approaching a range of financial and strategic trade acquirers, providing the administrators with several high-value competing offers.

Following a highly competitive process, Deltic was acquired out of administration by Nordic bar and nightclub operator REKOM. REKOM Group is the largest nightlife group in the Nordics and operates more than 130 bars and clubs in Denmark, Finland and Norway. REKOM has been backed by the Danish private equity firm CataCap since 2018.The acquisition provides REKOM with a strategic platform in the UK from which it will continue to expand in the UK across Europe.