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Permira takes All3Media off the market

19 Sep 2011

Private equity firm Permira has ended the sales process for UK television company All3Media, according to reports.

Potential acquirers did not meet the firm’s expectations, following an auction process that opened in March of this year.

Reports suggest that Permira were targeting a price of up to 12 times the company’s earnings before EBITDA, around £770m. Potential buyers included Sony and media-focused private equity firm Providence Equity Partners.

Permira acquired the company from European private equity firm Bridgepoint in 2006, in a deal that valued the company at £320m.

The firm was in the news recently following reports that it had offered a five per cent discount on its annual management fee for investors who sign up early or commit more than €200m to its latest fund.

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