Erinaceous buyout speculation gains speed

The Erinaceous Group has admitted that it has been the focus of recent private equity overtures, with a view to the completion of a full management buyout. The admission comes after a report in the Mail on Sunday, which indicated that a takeover or buyout was on the cards.

The Croydon-based property services and insurance company is believed to be in the early stages of discussions with private equity firm 3i - which recently sold its share of broker Smart and Cook to Axa - with Bridgepoint a