ELTA.L Regulatory News (ELTA)

Electra Private Equity PLC

RNS

7 October 2015

Electra's AXIO Data Group sells MIMS

Electra Private Equity PLC ("Electra") is pleased to announce that its portfolio company AXIO Data Group ("AXIO") has agreed to sell MIMS, its Asian healthcare information business, to SMS and Mitsui for $250 million. The transaction is expected to complete later today. This is the third major realisation from AXIO's portfolio following the sale of the JOC Group and Breakbulk in 2014.

Based on today's exchange rates, the sale of MIMS will result in an increase in diluted NAV per share of 122 pence compared to the 31 March 2015 valuation of AXIO. Electra is expected to receive net proceeds from AXIO of £95 million in relation to the sale of MIMS.

MIMS is Asia-Pacific's leading provider of trusted medicine information, serving healthcare professionals across the region for nearly 50 years. MIMS has a registered user base of over 1.7 million healthcare professionals and provides multi-channel solutions to the pharmaceutical industry. MIMS also provides subscription clinical solutions to hospitals, clinics and pharmacies.

SMS is a leading provider of information infrastructure for an ageing society, operating more than 40 services in the nursing care, medical care and healthcare segments in 13 Asia-Pacific countries. Mitsui is one of the world's most diversified comprehensive trading, investment and service companies.

The sale of MIMS follows that of JOC and Breakbulk in 2014 and the refinancing of AXIO's aviation business, OAG, in 2015. Following these transactions, in which AXIO has sold businesses representing less than half of the earnings acquired in 2013, Electra will have received total cash proceeds of £180 million or 2x original cost.

Electra invested £91 million in AXIO in April 2013. Following this latest disposal, AXIO comprises four market-leading information businesses providing critical, and often industry-standard, information and tools. Operating in over 17 countries worldwide, the group's brands include Vidal in the healthcare sector, TechInsights in the intellectual property licensing sector, OAG in the global transportation sector and RISI in the forest products sector. Together these remaining businesses produced EBITDA of approximately £20 million in 2014.

Alex Cooper-Evans, Partner at Electra Partners, said:

"Our plan for AXIO is to transform each business by developing the right long-term strategy and then delivering through operational improvement and M&A. This is resulting in some extremely high-quality niche businesses that are very attractive to strategic purchasers. The MIMS story shows exactly this plan in action."

Henry Elkington, CEO of AXIO Data Group, said:

"The MIMS team has built a unique audience of healthcare professionals in Asia. SMS and Mitsui have deep experience in the care sector and will bring new business models and know-how to complement MIMS. We wish the MIMS team all the best in the future."

Alex Fortescue, Alex Cooper-Evans and Sarah Williams are responsible for the investment in AXIO Data Group.

Today's announcement continues Electra's extensive portfolio activity. In the financial year to 30 September 2015, Electra's portfolio activity has included the disposals of JOC Group and Breakbulk from AXIO, as well as Nuaire; the bolt-on acquisitions to Allflex Corporation, AXIO, Davies Group, Elian¹, PINE Unit Trust and The Original Bowling Company¹ and the proposed merger and refinancing of Park Resorts.

Electra Partners refers to Electra Partners LLP acting on behalf of its client Electra Private Equity PLC.

¹ Transaction subject to approval

Ends.

For further information please contact:

Andrew Honnor and Matthieu Roussellier, Greenbrook Communications +44 (0)20 7952 2000

Andrew Kenny and Nicholas Board, Electra Partners +44 (0)20 7306 3932