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Electra Partners eyes 15x exit for Allflex

3 May 2013

dollar_5_170sqElectra Partners is set to bag a massive return of 15 times on its investment in plastic and electronic animal identification tags maker Allflex.

The private equity firm has received a binding offer for the business from BC Partners, which values it at $1.3bn.

If accepted, the exit would give Electra’s investors $630.5m including $398m to Electra Private Equity, giving it a return of 15 times over 14 years of investment and an IRR of 28 per cent.

Electra first invested in Afflex in 1998 when it backed its $160m buyout with $46m.

Electra’s deputy managing partner David Symondson said, “Allflex is an excellent business which has proved to be a first-class investment for Electra Partners delivering strong returns at each of the refinancings over the years and now at the sale.

“Over this time, the company has become the leading global provider of animal identification tags with an expanded product range which includes RFID and tissue sampling tags.”

Earlier this year Electra exited its investment in esure for a return of three times.

Last month the firm increased its secondary private equity portfolio to £78m after adding two more fund positions for a combined £22m.

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