Electra Private Equity PLC Epiris announces the realisation of Allflex (2504A)
23 March 2017 - 6:00PM
UK Regulatory
TIDMELTA
RNS Number : 2504A
Electra Private Equity PLC
23 March 2017
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 GBP70.3 million from the sale,
an uplift of GBP1.5 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 GBP5 billion in over 200 deals. Since
2011, Epiris has invested GBP1 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
GBP2.4 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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