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Corporate Raider Edward Bramson Leaves Board Of Electra Private Equity

Thu, 18th Jul 2019 10:14

(Alliance News) - Investment trust Electra Private Equity PLC said on Thursday that controversial former chief executive Edward Bramson has left the company's board, with Stephen Welker joining.

Bramson was the company's chief executive during 2016 and 2017 and has decided to stand down from his board position due to his commitments elsewhere, Electra said. He has served as a company director since 2015.

Bramson initially seized control of Electra Private Equity following a lengthy boardroom battle after Sherborne Investors Management LP, where he was a partner, took a 30% stake in the company in 2015.

During his tenure as chief executive, former Bank of England monetary policy committee member Kate Barker and Francesca Barnes, ex-global head of private equity at UBS Investment Bank were among the number of former Electra directors who left the company.

The activist investor also restructured Electra during his time with the company to free it from its investment manager Epiris Managers LLP.

In May, Barclays PLC's shareholders voted against adding him to the bank's board and he also was rebuffed beforehand in December.

Since 2017, Welker has been a non-executive at casual dining chain TGI Friday's, an Electra portfolio company. He is also a partner at Sherborne.

With Bramson, he built a 5% stake in Barclays during their time together at Sherborne in March 2018.

Shares in Electra were down 1.0% at 344.56 pence each in London on Thursday morning.

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3 Feb 2017 07:04

Electra Private Equity to sell audio console manufacturing business

(ShareCast News) - Epiris, the portfolio manager of buyout fund Electra Private Equity, is to sell its Audiotonix business, which manufactures audio mixing consoles, to European private equity firm Astorg. From the sale, which is expected to close in the first quarter of 2017, Electra will receiv

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30 Jan 2017 10:11

Electra Private Equity pockets £45m from Davies sale

(ShareCast News) - Epiris, the portfolio manager of buyout fund Electra Private Equity, has sold insurance claims service provider Davies Group to US-based private equity firm HGGC for £90m. Electra has received proceeds of £45m from the sale, which is a £2m uplift on the valuation of its investment

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23 Dec 2016 09:27

BROKER RATINGS SUMMARY: HSBC Raises Electra Private Equity To Buy

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23 Dec 2016 08:19

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20 Dec 2016 09:26

UPDATE 2-Canada's CCL to buy British bank note maker Innovia for $842 mln

* CCL buying Innovia from group of private equity firms * Electra Private Equity says makes 106 mln stg from sale * Innovia's polymer bank notes faces objections by vegetarians (Updates dateline, adds analyst comment, details from stake seller Electra, bullet points) By Aravin

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20 Dec 2016 07:24

Electra's Espiris sells Innovia for $1.13bn

(ShareCast News) - Private equity outfit Electra, said on Tuesday its portfolio manager Epiris had sold Innovia Group, a manufacturer of speciality films and substrate for polymer banknotes to CCL Industries for an enterprise value of $1.13bn. Based on today's exchange rates, Electra would receive p

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19 Dec 2016 07:45

UPDATE 1-Electra's manager Epiris to sell Parkdean Resorts for 1.35 bln stg

* To sell caravan holiday park firm to Onex Corporation * Electra to receive around 405 mln stg from sale * Internal rate of return on the deal around 46 pct (Adds details) By Noor Zainab Hussain Dec 19 (Reuters) - British buyout fund Electra Private Equity said its port

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19 Dec 2016 07:27

Electra Private Equity bags £405m from caravan sites sale

(ShareCast News) - Electra Private Equity is due to receive roughly £405m proceeds from the £1.35bn sale of Parkdean Resorts to Canadian investors Onex Corporation. The sale of the caravan park owner, which is expected to complete on 1 March 2017, will see an uplift of £25m on Electra's book value i

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19 Dec 2016 07:25

Electra's manager Epiris to sell Parkdean Resorts for 1.35 bln stg

Dec 19 (Reuters) - British buyout fund Electra Private Equity said its portfolio manager Epiris had agreed to sell Parkdean Resorts, an operator of caravan holiday parks, to private equity firm Onex Corporation for 1.35 billion pounds ($1.69 billion). The deal is expected to close in the f

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9 Dec 2016 10:47

UPDATE 1-Electra posts bumper returns ahead of split from Epiris

(Adds detail, background) LONDON, Dec 9 (Reuters) - British buyout fund Electra Private Equity reported strong full-year returns on Friday as it prepares to cut ties with its portfolio manager Epiris. Electra said it made a return of 35 percent in diluted net asset value (NAV) per sha

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9 Dec 2016 07:08

Electra Private Equity posts solid returns

(ShareCast News) - Electra Private Equity posted its preliminary results for the year to 30 September on Friday, with a net asset value per share of 5,149p, representing a total return of 35% for the year. The FTSE 250 firm's share price was 4,310p, a total return of 36% for the year, compared with

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5 Dec 2016 14:35

Electra Partners renamed Epiris as tries to forge new future

By Dasha Afanasieva LONDON, Dec 5 (Reuters) - Buyout firm Electra Partners has renamed itself Epiris, aiming to forge a new future after being sacked as the portfolio manager for Electra Private Equity earlier this year. Epiris - a combination of EP for Electra Partners and "Iris", t

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8 Nov 2016 08:11

Electra Private Equity to launch £200m share buyback

(ShareCast News) - Electra Private Equity said on Tuesday that it plans to return up to £200m to shareholders by a way of a tender offer. The company said the return of excess cash to shareholders should reduce the negative impact of holding this cash on growth in net asset value per ordinary share.

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14 Oct 2016 07:28

Electra Private Equity to migrate to a corporate structure following review

(ShareCast News) - After a review of Electra Private Equity's investment strategy, policy and structure the company is to return control of all functions to the board in order to create value for shareholders, while switching to a corporate structure. Following on from the first phase of the review

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7 Oct 2016 07:30

Electra Partners sells Vidal Group to M3 Inc

(ShareCast News) - Electra Partners' portfolio company AXIO Group has received a binding offer from M3 Inc. to purchase Vidal Group, a European provider of reference drug information for healthcare professionals, for €100m. The proposed transaction, which remains subject to certain conditions, would

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