29 Apr 2016 07:48
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Fri, 03rd Feb 2017 07:04
(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 receive £203m, an uplift of £62m, or 44%, and equivalent to an increase in its net asset value of 133p per share from the value of the investment at the end of last September.This equates to a return of 4.8 times the original cost and an initial rate of return of 51%, assuming the sale will be completed by the end of March.Epiris initially invested £42m on behalf of Electra when it bought Allen & Heath, a maker of audio mixing consoles, in 2013. This was followed by the acquisition of Calrec, another audio manufacturer, in March 2014 and a merger with DiGiCo, also another console manufacturer, in August of that year to form Audiotonix.The company said that Epiris had identified Calrec and DiGiCo as add-on opportunities before investing in Allen & Heath.Charles Elkington, a partner at Epiris, said: "Through structured investment across three valuable brands we have created a global market leader with strong growth prospects. When we made the initial investment we had a clear strategy based on mergers and acquisitions, operational improvement and strategic focus."We have delivered this with two add-on acquisitions, a reorganised supply chain, and successful investment in sales and marketing as well as new product development. As a result the business has more than quadrupled earnings since 2013.Audiotonix chief executive James Gordon added: "Epiris have been an extremely supportive and engaged partner. Their vision and leadership in combining the three businesses and subsequent contribution to the evolution of the group has been invaluable. We now have a solid foundation from which to push into the next stage of our development."
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4 Apr 2016 13:44
Director dealings: Bramson keeps picking up Electra stock
(ShareCast News) - Activist investor Edward Bramson, who won a place on the board of Electra Private Equity in November after a 21 month-long battle with the board, has continued to snaffle more shares in the group. On Monday the company revealed that last week Bramson's Sherborne vehicle had bought
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BUZZ-UK Budget: Liberum latest to warn of interest tax change
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4 Feb 2016 15:44
Activist investor Bramson ups stake in Electra Private Equity
(ShareCast News) - Edward Bramson has increased his stake in Electra Private Equity through his Sherborne Investors vehicle, three months after finally getting onto the board. Bramson, who was elected to the board in November, purchased 2,850 shares for £98,439. He has been slowly upping the stake
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Electra sells Daler-Rowney to FILA Group
(ShareCast News) - Electra Private Equity has sold its stake in Daler-Rowney to the FILA Group, a Milan-listed producer of writing instruments and art supplies. The FTSE 250 company said it had received around £32m for the fine art materials producer, which was 163% higher than its valuation at 30 S
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Electra Private Equity charges into new financial year
(ShareCast News) - Electra Private Equity charged into the financial year in bullish mood, with its board describing its first quarter as "excellent" on Thursday. The FTSE 250 firm said its share price of 3757p on 31 December 2015 reflected a total return of 15% since the start of the period, agains
Read more25 Jan 2016 07:43
Electra Private Equity to review investment strategy
(ShareCast News) - Electra Private Equity is undertaking a review into its investment strategy and policy as well as the company's structure, as it looks to maximise long-term shareholder value. The FTSE 250 investment firm announced the review on Monday, the first major review since it was approved
Read more21 Jan 2016 16:16
London close: Stocks gain on ECB stimulus hopes
(ShareCast News) - UK stocks advanced on Thursday as European Central Bank President Mario Draghi hinted at further stimulus. In a press conference following the ECB's decision to keep its key rates unchanged, Draghi said the central bank would "review and reconsider" its monetary policy measures at
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21 Jan 2016 15:41
FTSE 250 movers: Halfords leads the peloton
(ShareCast News) - The FTSE 250 was in the black mid-afternoon Thursday, up 164.74 points (1.05%) to 15,805.75. Halfords pedalled to the front of the peloton after it said group like-for-like sales rose 0.3% in the third quarter with the company reporting that full year pre-tax profit expectations w
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