Electra Private Equity

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15/06/2007Electra confirms the sale of Capital Safety Group for $565m
14/06/2007Notification of Director's Shareholding
05/06/2007Announcement of Interim Results for six months ended 31 March 2007
22/05/2007Major Interest in Shares - Prudential plc
03/05/2007Electra announces the sale of Capital Safety Group for $565m
30/04/2007Electra Private Equity wins Best Private Equity Trust of the Year Award
30/04/2007Electra acquires Nuaire
04/04/2007Major Interest in Shares � British Empire Securities and General Trust PLC
04/04/2007Major Interest in Shares � Legal & General Group Plc
04/04/2007Major Interest in Shares � Rensburg Sheppards Investment Management Limited
02/04/2007Portfolio Update
08/02/2007Annual General Meeting - Results
08/02/2007Annual General Meeting - Statement
23/01/2007Annual Information Update
19/01/2007Voting Rights and Capital
18/01/2007Major Interest in Shares � British Empire Securities and General Trust PLC
15/01/2007Transaction in Own Shares
11/01/2007Major Interest in Shares � Prudential Plc and certain of its subsidiary Companies
10/01/2007Annual Report and Accounts
08/01/2007Appointment of two non-executive Directors
03/01/2007Portfolio Update
21/12/2006Total Voting Rights


Electra announces the sale of Capital Safety Group for $565m
3 May 2007

Electra Private Equity PLC ("Electra") is pleased to announce it has entered into a conditional agreement for the sale of its interest in Capital Safety Group (�CSG�) in a $565m secondary management buyout arranged by Candover Partners Limited.

On completion of the transaction, Electra will receive net proceeds of US$174m (circa �87m depending on exchange rate movements) for its investment in CSG, representing an uplift of circa �62.9m, or 260%, over the valuation of CSG at 30 September 2006. This would give rise to an increase in net asset value of 168p per share.

Completion of the transaction is conditional upon competition clearance. It is presently expected that competition clearance decisions will be made within 6 weeks.

In 1998 Electra led the �98.3m buyout of CSG. Under Electra�s ownership CSG has evolved from a business with a regional-based focus into an international business selling under two global brands, DBI-Sala and Protecta. Today the company is the world�s leading manufacturer of height safety equipment. Its products are used by workers across a number of sectors such as oil and gas, telecommunications and construction.

A refinancing was put in place in 2005, with Electra realising �58.3m from which it reinvested �12.75m in the equity and �5.65m in the mezzanine loan of a new holding company, Capital Safety Group II. Since 2005 the profitability of the business has grown considerably.

Based on anticipated net proceeds of �87m Electra will achieve a multiple of over 5 times its original investment with an IRR over 9 years of 23%.

David Symondson at Electra Partners commented: �The key aspect of this investment is the amount of time we have held it, backing the leadership of CSG�s CEO Paul Trinder over the long term. Because of our flexible structure we have not been obliged to sell the business within a pre-determined timescale. This has enabled us to benefit from strategic decisions implemented in the early years. CSG is now of a size whereby it will benefit from a change of shareholder as it looks to consolidate its position in the personal protection equipment market.�

Close Brothers acted as sole financial adviser to Electra.