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Epiris agrees sale of Treetops Nurseries

30 March 2017 09:50

Epiris has agreed the sale of Treetops Nurseries, the UK's fourth largest nursery education operator, to Busy Bees. Electra Private Equity said it expected to receive proceeds from the sale of £93m, an uplift of £44m or 91% and equivalent to an increase in its NAV of 107 pence per share on the valuation of the investment at 30 September 2016.

Electra said this equated to a return of 6.5x cost and an IRR of 59%.

Electra said this was the seventh exit delivering a money multiple of more than 3x that Epiris had achieved in the last 12 months.

Electra said the transaction was anticipated to close in April.

At 9:50am: (LON:ELTA) Electra Private Equity Plc share price was +36.5p at 4926.5p

Story provided by StockMarketWire.com

Related Company: ELTA

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