Ultimate Leisure has had a bid for Revolution vodka bar operator Inventive Leisure turned down.
Ultimate, headed by Mark Jones (pictured) said it had made a preliminary indicative approach to Inventive's committee overseeing bid offers, but that despite asking for company information to date it had not received any.
In a statement Inventive confirmed it had received an approach from Ultimate but had decided not to proceed with it.
"We can confirm that we have received a preliminary indicative approach from Ultimate Leisure Group plc regarding a potential offer for Inventive Leisure.
"The Independent Directors, together with their advisers, have considered all approaches and, as set out in our AGM statement yesterday, active discussions are ongoing with a private equity house."
Names in the frame regarding the potential bidder include Alchemy Partners.