Despite having appeared in the Fast Track 100 league table in 1997 and 1999, and in the Profit Track 100 earlier this year, Menzies Hotels is showing no signs of slowing down. It was founded in 1992 by Nick Menzies, who began his career in the hotel trade as a cleaner. He set up the company with £125,000 of his own money. Today it consists of 18 three- and four-star hotels in the Midlands and south of England. The firm has driven up sales by 93% a year, from £3.2m in 1996 to £23.2m in 1999. In August, Menzies sold 55% of the company to BancBoston Capital and Indigo Capital for £11.5m. BancBoston and Indigo have also committed another £10m to match new bank debt of £20m. Menzies will spend the £30m raised on a series of acquisitions.
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