1 Jul 2016 06:27
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Don't have an account? Click here to register.Electra gets £104m from AXIO sale of OAG
Thu, 16th Feb 2017 07:40
(ShareCast News) - Epiris, the portfolio manager of buyout fund Electra Private Equity, said its portfolio company AXIO Group has sold aviation intelligence group OAG, to funds managed by Vitruvian Partners for around $215m.Electra has received proceeds from AXIO of £104m, an uplift of £28m or 37% and equivalent to an increase in its net asset value pf 60p per share on the valuation of Electra's investment at the end of September last year.The sale has increased the total cash proceeds received by Electra from its investment in AXIO to more than £350m, or 3.9x original cost, and the total return, including Electra's investment in the remaining AXIO businesses, to 4.8x original cost. Alex Cooper-Evans, a partner at Epiris, said: "OAG is another AXIO success story. The business has been transformed during the period of our ownership with strategic focus, operational improvement and investment. OAG has grown earnings at more than 30% a year since 2013 and now has a clear strategy to continue its growth in the future. Phil Callow and his team have done a fantastic job with the business and we wish them well for the next chapter in the OAG story."
More News
20 Jun 2016 07:44
Electra Private Equity loses two board members
(ShareCast News) - Investment trust Electra Private Equity announced the resignation of two of its directors on Monday, with Dame Kate Barker and Francesca Barnes departing with immediate effect. The FTSE 250 firm said Barker joined the board in 2010 and was chairman of the remuneration and nominati
Read more20 Jun 2016 06:48
Electra board members resign after company shake-up
LONDON, June 20 (Reuters) - Electra Private Equity, which has been the focus of a campaign by activist investor Edward Bramson, said on Monday that board members Kate Barker and Francesca Barnes were resigning with immediate effect. The resignations follow the appointments within the last t
Read more17 Jun 2016 15:07
14 Jun 2016 08:56
Electra cancels large credit facility
(ShareCast News) - Electra Private Equity announced the cancellation of a large credit facility on Tuesday. The FTSE 250 firm said that, having carefully reviewed its cash position, it has decided to cancel its existing £275m multi-currency revolving credit facility. Its board confirmed that the fa
Read more6 Jun 2016 07:33
Electra sells Elian to Intertrust for £435m
(ShareCast News) - Electra Partners said it had agreed to sell corporate services provider Elian to Intertrust Group for £435m. After completion of the deal, which is expected during the third or final quarter of 2016, Electra said it expected to receive total proceeds of around £200m, an uplift of
Read more6 Jun 2016 06:41
RPT-Dutch trust operator Intertrust buys Elian for 435 million pounds
(Repeats to add Reuters Instrument Code for Electra) AMSTERDAM, June 6 (Reuters) - Intertrust plans to buy rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands, the Dutch trust firm sa
Read more6 Jun 2016 06:31
27 May 2016 14:18
Directors dealings: Activist investor Bramson tops up stake in Electra
(ShareCast News) - Electra boss Edward Bramson picked up another large slice of shares in the listed private equity outfit on the same day of his appointment as interim chief executive officer of the firm. Bramson and one of his associates, Ian Brindle, were named to Electra Private Equity´s board o
Read more