Electra completes the £145 million sale of Nuaire

RNS Number : 3960W

Electra Private Equity PLC

18 August 2015

 



Electra Private Equity PLC

18 August 2015

Electra completes the £145 million sale of Nuaire

Further to the announcement of 5 August 2015, Electra Private Equity PLC ("Electra") is pleased to announce that it has completed the sale of its interest in ventilation systems manufacturer Nuaire to Polypipe Group plc. The total value of the deal is £145 million.

Electra has received proceeds of £73 million. Inclusive of income and proceeds from a refinancing, this generates a return of 3.8x on original cost and an 18% IRR.

Headquartered in Caerphilly, Wales, Nuaire is a leading UK-based manufacturer and designer of ventilation equipment for commercial and residential applications. The company's innovative products help clients reduce their energy consumption and carbon emissions. Electra originally invested £23 million in the management buyout of Nuaire in 2007.

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

Ends.

For further information please contact:

Andrew Honnor and Matthieu Roussellier, Greenbrook Communications              [phone]

Andrew Kenny and Nicholas Board, Electra Partners                                         [phone]

 

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