North Atlantic Smaller Cos gets GBP11 million from private equity sale

(Alliance News) - North Atlantic Smaller Companies Investment Trust PLC on Thursday said Harwood Private Equity Fund V has sold one of its private equity holdings, Assisi Pet Care Ltd.

NASCIT is an investor in smaller companies based in countries bordering North Atlantic Ocean. Assisi Pet Care is a Melton Mowbray England specialist in pet care and food.

On a look-through basis NASCIT invested GBP3.6 million over the course of three years via a buy and build investment strategy and expects to receive at the closing about GBP11 million.

It said that this represents an uplift on the June 30 valuation of about GB3.4 million.

Shares in NASCIT were up 1.6% to 3,627.96 pence each in London on Thursday morning.

By Sophie Rose, Alliance News reporter

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