Dunedin Ent.it. Regulatory News (DNE)

7 Apr 2006 14:11

Dunedin Enterprise Inv Trust PLC07 April 2006 For Immediate Release: Friday 7 April 2006 Dunedin Enterprise Investment Trust PLC completes Sale of Calsafe Group (Holdings) Ltd. Dunedin Enterprise Investment Trust PLC ("Dunedin Enterprise"), the privateequity investment trust which invests in UK mid-market management buyouts,announces the completion of the sale of its holding in Calsafe Group (Holdings)Ltd ("Calsafe") to Champion Enterprises Inc USA ("Champion") for £62 million.Calsafe operates in the UK and Europe through its subsidiary company CaledonianBuilding Systems Ltd ("Caledonian"). Dunedin Enterprise has received £16.5 million from the sale of Calsafe whichrepresents an uplift of £6.6 million to Dunedin Enterprise's valuation ofCalsafe at 31 October 2005. This equates to 22p per ordinary share. DunedinEnterprise invested a total of £3.8 million in the management buyout of Calsafein November 2003 and has received £20.6 million in capital and income from thisinvestment. This represents an IRR of 104% over two and half years and a moneymultiple of 5.4 times the original investment. For further information, please contact: Dunedin Capital PartnersBrian Scouler, Managing Director, Portfolio 0131 718 2313/07811 262 796 Binns & Co PR LimitedPeter Binns 020 7786 9600Annie Evangeli 020 7786 9600/07778 507 162Chris Steele 020 7786 9600/07979 604 687 EDITOR'S NOTESDunedin Enterprise Investment Trust PLCDunedin Enterprise is managed by Dunedin Capital Partners Limited. Dunedin is anindependent private equity company owned by its directors and staff. The companyspecialises in providing equity finance for management buyouts with atransaction size of £10 - 50 million. It operates throughout the United Kingdomfrom its offices in Edinburgh and London.For more information on Dunedin Enterprise, its portfolio and investmentapproach, please visit the website www.dunedin.com This information is provided by RNS The company news service from the London Stock Exchange