Bank of Scotland has backed the secondary management buy-out of Wimpy UK, the fast food chain, sold by 3i, Bridgepoint and Lloyds TSB Development Capital for a little less than £20m (€30m), in a blueprint investment for its integrated finance arm.
Bank of Scotland put its integrated finance division together in 2000 to provide both equity and debt finance. Unlike private equity houses, the division is willing to contemplate investments where there is no obvious exit.