Nova Capital exits smoke alarm company
UK secondaries firm Nova Capital Management has sold Detector Technology, a Chinese supplier of radioactive components for smoke alarms. The exit is the third from its QSA Group of companies, a set of businesses specialising in supplying radioactive sources. The total equity realised from the QSA Group companies is £100m (€114.9m), providing Nova with a cash-on-cash return of 7.4 times its original investment.
The firm also announced the sale of a 17.1 per cent stake in life safety products manufacturer Sprue Aegis.
The QSA Group companies were suppliers of sealed radioactive sources for use in process control, analytical instrumentation, oil well logging, radiation instrument calibration, nuclear medicine applications, and processing and disposal of low- and medium-activity waste.
Detector Technology, based in Hong Kong and Shenzhen, China, is a supplier of radioactive components used in smoke detection products and also supplies complete smoke detectors.
Nova had already sold QSA Global to ITW and nuclitec to Eckert & Ziegler Strahlen-und Medizintechnik.
The QSA Group companies were part of a portfolio of nine non-core businesses acquired from AEA Technology in October 2005 by CIP Industries, which Nova has advised since inception.
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Private Equity News» By News Type» Deal News
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Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Secondaries
Private Equity News» By Region» Asia» China
