etc.venues announces a 21 million management buyout and national expansion plan

etc.venues, Londonís independent provider of meeting, training and event space, today announced a 21 million management buyout backed by Dunedin* Capital Partners.

Under the buy-out, Sally Wilton, Managing Director of 14 years and the founder of etc.venues, retires from the company. Her replacement, Alastair Stewart, formerly Managing Director of Initial Style Conferences, joins etc.venues as the newly appointed Managing Director. Under the deal, Claire Adams remains as Finance Director with Mary Fowell, Graham Laylee and Lin Roucos remaining as Executive Directors. Shaun Middleton, who along with Andrew Pickup of Dunedin led, structured and completed the transaction, joins the company as a non-executive director.

The new management team have plans to grow the business through a national regional roll-out, including Birmingham, Bristol, Manchester and Edinburgh.

etc.venues was founded in 1992 by Sally Wilton when the first venue, Avonmouth House, was opened in South London. Wilton expanded the business to the six training and conference venues now in operation across London. All venues are purpose-designed and renowned for their well resourced facilities, range of flexible rooms and layouts, central locations and high levels of service.

Alastair Stewart, newly appointed Managing Director of etc.venues, comments:-

ìI am very excited to be leading etc.venues in their future expansion strategy and to have the backing and support of Dunedin in developing the brand from an independent, London-based meetings provider to a UK-wide player. More and more, corporate and and not-for-profit conference organisers are realising the benefits of holding a meeting in a specialist venue and I am delighted that the brand has such a strong market following.

Sally Wilton says: ìI am delighted that etc.venues has successfully raised private equity finance to facilitate a national roll-out of the brand. The fundraising and Alastairís arrival provide me with an opportunity to retire from the company I founded in 1992. I wish Alastair and the Director team every success with future growth plansî.

Fifth-time accredited Investors in People, etc.venues is Londonís leading independent provider of event, meeting and training space with properties situated across the Capital in six prime locations: Avonmouth House SE1, Bonhill House EC2, CBI Conference Centre WC1, The Hatton, EC1, Park Street W1 and Prospero House SE1. etc.venues currently employs 130 staff across all six properties and has an annual turnover of nine million pounds.

In 2005, etc.venues received the following accolades:

- Gold in Visit London Awards 2005 ëBest for Businessí category

- Winner of CEA Awards (Corporate Event Association) ëBest Venue Groupí category

- Silver - ëBest Brand Marketingí category from the Meetings Industry Marketing Awards (MIMA)

- Gold in Southwark Councilís Environmental Business Awards

- Silver in the Islington Tidy Business Standards Awards

For information on etc.venues please visit the website at www.etcvenues.co.uk or contact the marketing department on 020 7518 8600.

For more information on Dunedin please visit the website at www.dunedin.com

* Dunedin is initially providing 6 million of funding with a further 4 million follow-on investment. Allied Irish Bank has provided bank debt of 10.5 million.