Duke Street, the UK-based private equity firm, has sold most of its 70% stake in LeisureLink, a pub entertainment machine developer, in a secondary sale to Henderson Private Capital, another private equity buyer.

LeisureLink's launch of It Box (a multi-purpose machine for games, music and services including the sale of compact discs and mobile phones) in mid-January triggered a beauty parade of institutions keen to buy in. In April LeisureLink's founder Russell Hoyle, in an interview with Financial News, scoffed at analysts' suggestions that the firm was worth £250m. He said that was at the low end of the scale. Henderson has, however, acquired the firm in a transaction worth £230m, including an additional working capital facility. LeisureLink was formed two years ago through a management buy-in from Bass, the UK leisure group, for £70m.