How private equity ruined Britain
From our UK edition
What has happened to Britain’s rivers isn’t a mistake. The fact that serious pollution is up 60 per cent on the year, or that only one in seven rivers can be called ecologically healthy, is the result of corporate tactics. It is effluent from the murky world of private equity. Some 2.5 million people in the UK now work for a business that is ultimately owned by private equity. Since the 2008 financial crisis, Britain has become a prime target for takeovers, driven by low company valuations, favourable exchange rates and a pliable regulatory environment. Everything from Bella Italia to the Blackpool Tower, Travelodge to Legoland, the AA to Zizzi, has been owned by private equity. Today, it claims to make around £7 in every £100 generated for the British economy.