23 Mar 2017 07:00
PRESS RELEASE
23 March 2017
Epiris announces the realisation of Allflex
Epiris is pleased to announce that it has sold Electra Private Equity PLC's ("Electra") remaining stake in Allflex Corporation ("Allflex") to an existing shareholder.
Electra has received proceeds of £70.3 million from the sale, an uplift of £1.5 million or 2% on the valuation of its investment in Allflex at 30 September 2016, equivalent to an increase in NAV per share of 3 pence. Including proceeds already received, this equates to a return of 1.9x original cost on Electra's 2013 investment in Allflex; an IRR of 23%.
Allflex is the global leader in animal intelligence and monitoring technologies for livestock, pets, fish and other species. It designs, produces and distributes a variety of products such as radio-frequency identification (RFID) and visual ear tags, tissue sampling devices, RFID implants, monitoring devices, milk meters, and other farm management equipment. Allflex operates in 80 countries and employs over 1,800 people worldwide.
David Symondson, Chris Hanna and Nicola Gray are responsible for the investment in Allflex.
Epiris refers to Epiris Managers LLP acting on behalf of its client Electra Private Equity PLC.
Ends.
For further information please contact:
Andrew Honnor, Matthew Goodman, Matthieu Roussellier,
Greenbrook Communications +44 (0)20 7952 2000
Andrew Kenny and Nicholas Board, Epiris +44 (0)20 7306 3932
Note to Editors:
About Epiris
Epiris is a top-decile private equity fund manager*.
Epiris, together with its predecessor firms, has managed the business and affairs of Electra Private Equity PLC, a listed private equity investment trust, for four decades. Epiris has also managed private equity investment programmes for pension funds, financial institutions and family offices. During this time Epiris has invested in excess of £5 billion in over 200 deals. Since 2011, Epiris has invested £1 billion in buyouts and co-investments and loan-to-own debt investments, in respect of which it has delivered a gross IRR of 37%**.
As at 30 September 2016, the firm had funds under management of £2.4 billion.
For further information please visit www.epiris.co.uk.
Issued by Epiris Managers LLP which is authorised and regulated by the Financial Conduct Authority.
* Refers to the 2009 and 2012 investment pools comprising Buyout & Co-investment, Secondary and Debt investments managed on behalf of Electra Private Equity PLC; comparator data supplied by Preqin.
** As at 30 September 2016 adjusted for subsequent investments and realisations. Gross IRR does not reflect adjustments for investment management and administration costs. Past performance is no guarantee of future results.