Merlin Entertainments, owner of Legoland and Madame Tussauds has decided to call off an auction of more than half a dozen Sea Life visitor attractions in locations including Blackpool, Brighton, Loch Lomond and Scarborough.

Sources said that private equity firms such as Epiris and Platinum Equity had expressed an interest in the venues but added that none of the offers had been at a level that persuaded Merlin Entertainments to pursue a deal.

A Merlin spokesperson said:

“Like any well-run business, Merlin Entertainments regularly reviews its estate, in line with the company's long-term growth strategy. We continue to invest in our Sea Life aquariums, to ensure they provide wonderful experiences for guests and inspire a love for the ocean and its creatures.”

Merlin Entertainments owns more than 40 aquariums globally, many of which trade under the Sea Life brand. In the UK, there are 11 such attractions, including in London, Birmingham and Manchester. One source told Sky News that Merlin Entertainments had been open to expanding the sale perimeter to include one or more of the Sea Life venues in major English cities in order to entice more lucrative offers.

Merlin Entertainments is jointly owned by the private equity giant Blackstone and the investment vehicle of the family behind the Lego dynasty, having been a publicly traded company on the London stock market for several years.