Oakley Capital nets 2.7x return through £15.5m Headland Media sale


ship-comms_sqUK private equity firm Oakley Capital has made a 2.7 times return for investors in its AIM-listed vehicle by selling Headland Media for an enterprise value of £15.5m.

The firm said it made a 27 per cent IRR exiting the business, which provides media, entertainment and news digest services to the retail, hotel, shipping and offshore sectors and remote locations.

Oakley said the deal represented a 14 per cent uplift in the net assets value attributed to Headland by the Limited Partnership at the turn of the year.

The firm picked up the business in 2008 through its Oakley Capital Investments vehicle, and made four bolt-on acquisitions.

Director Peter Dubens said, “Headland has been another successful investment for the Limited Partnership offering an attractive return to investors.

“The Oakley and Headland management team successfully completed a planned buy and build strategy, selling to a strategic buyer.

“It has been a pleasure for the Oakley team to work with the management of Headland, and we wish them continued success in the future.”

In February Oakley Capital Investments made a 3.6 time gross return and IRR of more than 100 per cent by selling online holiday booking company Emesa to Netherlands-based Cyrte Investments.

Oakley said it could receive €30m as its share of proceeds from the sale of Emesa, in a deal that gave the Dutch company an enterprise value of €95m.

The firm acquired Emesa Group in March 2011 for €35m.

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