Portfolio Update: Coventbridge Group Limited

Summary by AI BETAClose X

North Atlantic Smaller Companies Investment Trust PLC has announced a partial sale of Coventbridge Group Limited, which will result in the repayment of a 10% loan note plus approximately £5.9 million in interest, and an additional £8.0 million distribution from Harwood Private Equity IV. This transaction yields a total equity return of approximately 2.6 times the initial investment. The remaining business assets, held in a Newco, are valued modestly due to ongoing contract renewals, but there is potential for further upside if negotiations are successful, with the overall transaction value exceeding the end-January valuation.

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