Dunedin floats Goals

Dunedin Capital Partners Limited has exited from its investment in Goals Soccer Centres plc, following the flotation of Goals on the Alternative Investment Market. Dunedin will receive net proceeds of £14.5m from a total investment of £7.3m. This represents a multiple of 2.2 times and an IRR of 25% over four years.

Dunedin originally invested in Goals in November 2000 when it led the management buy-in of the company. Dunedin provided equity finance and the Bank of Scotland structured an innovative debt package. Post-MBI, Dunedin took an active role in supporting the business and provided further development finance allowing the business to expand from five football centres to 11.