May Capital, the private equity group led by Noah Bulkin, has lined up Gerry Carroll, former managing director at Enterprise Inns and Little Chef, to manage the c300-strong tenanted pub package it is currently in advanced talks to acquire from Greene King, M&C Report understands.
It is thought that if the deal for the package, which is believed to be valued at c£85m, is successful Carroll will initially run the new group with a streamlined management team while other operational functions are outsourced.
It is understood that May Capital, which is also in talks to secure c50 pubs from Robert Tchenguiz’s former R&L Properties vehicle, is looking to build a significant estate of tenanted pubs through a number of further acquisitions.
Carroll left Enterprise Inns in March 2012 after over five years with the company, where he was responsible for 3,400 pubs.
He previously spent nearly two years as managing director at Little Chef. He has also had stint as an operations director at Vue Cinemas and Harvester.
He is currently chief executive of Tor Consultancy & Management, which provides consultancy and management services to the leisure industry.
Greene King placed the c300-strong portfolio, entitled Project Lake, on the market through PricewaterhouseCoopers (PwC) at the start of 2013.
The move is part of Greene King’s long-term strategy of expanding its managed estate to around 1,100 and cutting back its c1,250-strong tenanted estate.
Cerberus Capital Management, the owner of Admiral Taverns, and, more recently, the Pears property family, are believed to have previously held talks with Greene King regarding acquiring the portfolio.