BC Partners Makes $1.3 Bln Offer for Allflex

Electra Partners said Friday that it has received a $1.3 billion binding offer for Allflex Holdings. BC Partners is the buyer, Electra says. Allflex makes and distributes plastic and electronic animal identification tags. The sale will generated gross proceeds of $630.5 million for Electra Partners’ clients, including Electra Private Equity which will receive $398 million on the close of the deal. This represents a gross return of 15x original cost and an IRR of 28%. Rothschild advised Electra Partners and Allflex.

Peverel Rescued by Chamonix and Electra

Peverel Group, a UK property management services group, has been rescued from administration with financial backing from Chamonix Private Equity and Electra Partners in a 62 million pounds ($97.8 million) transaction. Zolfo Cooper was appointed as administrator to the holding companies of Peverel in March 2011 and the operating companies have continued to trade profitably […]

LDC Does Good On Davies Secondary Buyout

UK-based mid-market private equity house LDC has exited its investment in claims management provider Davies Group through a management-led secondary buyout backed by Electra Partners. The business was sold for 60 million pounds.

Electra Partners Adds Chris Hanna

UK-based private equity firm Electra Partners has added Chris Hanna as an investment partner. Hanna, who joined September 1, joins from Phoenix Equity Partners where his investments included Nationwide Autocentres, NFT, ASCO and Ashtead Technology Rentals.

Electra Lines Up Investments as NAV Rises

LONDON (Reuters) – London-listed Electra Private Equity Plc (ELTA.L) said it had seen an increase in possible investment targets during its third quarter to end-June in which its net asset value (NAV) rose 3.9 percent. NAV was at 1,571 pence per share compared to 1,512 pence at end-March, reflecting performance of quoted assets. The group […]

Baxi To Merge with De Dietrich

LONDON (Reuters) – Debt-troubled UK heating products maker Baxi said on Friday it had agreed to merge with Dutch rival De Dietrich Remeha to boost its capital position and create one of Europe’s biggest heating products companies. Private equity-owned Baxi, which had debt of around 630 million pounds ($1 billion) at the end of 2008, […]

Baxi Gets Breathing Room with Standstill Accord

LONDON (Reuters) – British boiler maker Baxi said on Wednesday it had secured a standstill and waiver agreement on its leveraged loans, which will allow it to avoid breaching covenants and technical default. In mid June Baxi warned that it was in danger of breaching cashflow and leverage covenants when they were next tested at […]

Electra PE Eyes Secondary Market Opportunities

LONDON (Reuters) – London-listed Electra Private Equity Plc ELTA.L is eyeing opportunities to buy secondary private equity assets and debt, in businesses owned by its industry rivals, it said on Thursday. “The opportunities are going to be in the rather unusual parts of the spectrum, not the classic buyouts,” Chairman Sir Brian Williamson told Reuters, […]

Electra Partners with Steadfast Capital

Electra Partners, a UK private equity fund with £1bn under management, has invested to acquire a significant interest in Steadfast Capital Fund I. Electra Partners’ investment and commitment to Steadfast Capital Fund I totals €45m and sees Steadfast become Electra’s German investment partner of choice. Electra Partners already has investment partners in France, with TCR […]

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