Edmund Truell's Pension Insurance Corp. has bought Thresher, a UK chain of off-license stores, from Terra Firma Capital Partners.
The Financial Times said that Terra Firma, which bought Thresher from Whitbread and Punch in 2000 for approximately Gbp225m, has netted a similar profit from the sale of the chain, which owns The Local, Wine Rack and Threshers.
In April, Terra Firma was reported to have realised approximately Gbp200m from the sale and leaseback of some of the Thresher property estate.
Truell, who also founded UK mid-market private equity firm Duke Street Capital but has not sold his stake in that business to management, is also believed to have acquired the legacy pension assets of the Thorn television rental business from Terra Firma. The latter is thought to have assets of approximately