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Electra Private Equity bags £405m from caravan sites sale

Mon, 19th Dec 2016 07:27

(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 in September and equivalent to an increase in its NAV of 50p per share.Electra's total proceeds will amount to £515m, if including some proceeds already received, which equates to a return of circa 3.9 times cost and an internal rate of return of 46%.Electra's investment managers, Epiris, first invested in what was Park Resorts in 2012 and took joint control the year after, carrying out several acquisitions and eventually a merger with Parkdean last year.Alex Fortescue, managing partner at Epiris, said: "Through a series of bank-related acquisitions and 11 individual transactions we have transformed our original Park Resorts debt position into joint control of a very high-quality, market-leading business with profits of more than £100m."
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4 Oct 2016 10:57

REFILE-UPDATE 1-Electra prices Premier Asset Management IPO as post-Brexit offerings pick up

(Refiled to fix technical error in original transmission) By Dasha Afanasieva LONDON, Oct 4 (Reuters) - Electra Private Equity priced the initial public share offer for its Premier Asset Management Group on Tuesday, giving the business a market value of 140 million pounds ($179 milli

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4 Oct 2016 07:12

Premier Asset Management float allows Electra to cash in

(ShareCast News) - Premier Asset Management Group completed its initial public offering in London on Tuesday, allowing Electra Partners to partially realise an investment by its Electra Private Equity vehicle. Premier AM, a UK retail asset management group, placed 35.9m new and 12.4m existing shares

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16 Sep 2016 15:35

UPDATE 1-SVG spurns HarbourVest's $1.4 bln bid, says in talks with others

* Rejects HarbourVest bid at 650 pence per share * Says offer undervalues company, assets * Shares up 4.4 pct (Adds HarbourVest reaction) By Simon Jessop LONDON, Sept 16 (Reuters) - Britain's SVG Capital rejected a hostile bid by U.S. rival HarbourVest on Friday, saying

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16 Sep 2016 08:29

SVG spurns HarbourVest's $1.4 bln bid, says in talks with others

* Rejects bid from HarbourVest at 650 pence a share * Says offer undervalues firm, assets * Says talking to other parties; shares up 4 pct By Simon Jessop LONDON, Sept 16 (Reuters) - Britain's SVG Capital rejected a hostile bid by U.S. rival HarbourVest on Friday, saying

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16 Sep 2016 07:38

Electra Partners announces successful Hollywood Bowl IPO

(ShareCast News) - Electra Partners has announced the successful initial public offering of its portfolio company Hollywood Bowl Group, a ten-pin bowling operator in which it owns an 85% interest. Electra said that upon admission to the Main Market of the London Stock Exchange on 21 September, Holly

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12 Sep 2016 09:24

Monday broker round-up

(ShareCast News) - Autotrader: Barclays reiterates equal-weight with a target price of 375p. Hikma: Jefferies maintains buy with a 2500p target. Wood Group: Exane BNP Paribas upgrades to buy with a 815p target. Man Group: Citigroup upgrades to buy with a 137p target. McCarthy & Stone: Goldman Sac

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8 Sep 2016 11:18

Crystal Amber Sparkles Among Investment Funds In August - QuotedData

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22 Jul 2016 07:55

Electra Private Equity appoints Thomas Cook exec to new CFO role

(ShareCast News) - Electra Private Equity has appointed Gavin Manson to the new role of chief financial officer with effect from 8 August. The role will see Manson - currently finance director for Thomas Cook's tour operations and hotels and resorts division - support the board in relation to the re

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22 Jul 2016 06:39

Electra Private Equity Hires Thomas Cook Executive For New Role Of CFO

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19 Jul 2016 16:07

DIRECTOR DEALINGS SUMMARY: Two Electra Board Members Buy Shares

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19 Jul 2016 15:51

Directors dealings: Commercial property firm McKay's boss and finance chief sell shares

(ShareCast News) - McKay Securities's boss, Simon Perkins, and his finance chief Giles Salmon unloaded a raft of shares in the real estate investment trust awarded to them as part of the company's 2007 Mckay performance scheme, on 18 July, the company said in a statement. Perkins sold 127,938 sha

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19 Jul 2016 15:27

DIRECTOR DEALINGS: Electra Private Equity Non-Executive Buys Shares

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19 Jul 2016 11:13

DIRECTOR DEALINGS: Edward Bramson Increases Interest In Electra

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15 Jul 2016 06:43

Electra Private Equity To Vote In Favour Of Winding Up Subsidiary

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1 Jul 2016 07:42

Electra partially realises Allflex investment

(ShareCast News) - Electra Partners announced on Friday that, on behalf of Electra Private Equity, it has partially realised its investment in Allflex Corporation in a series of transactions between Allflex, its shareholders and Public Sector Pension Investment Board, a Crown corporation in Canada.

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