On The Record – Henry Jackson

In October, Merchant Equity Partners, a new private equity firm launched by former Deutsche Bank executive Henry Jackson to invest in struggling European businesses, completed its first transaction with the PTP of the loss-making retail unit of MFI Furniture Group in the UK. The firm acquired the unit for a nominal £1, with up to £73 million of follow-up investment by 2008. The terms of the deal also included an entitlement for the company, rebranded as Galiform, to a minimum of five percent of any sale proceeds in excess of £300 million over the next five years. Here, Jackson talks about the deal and how it fits into Merchant Equity Partners' investment strategy.