Epiris portfolio company AXIO Group has agreed to sell RISI, the leading information provider for the global forest products industry, to Euromoney Institutional Investor for $125m, subject to regulatory approvals.
Epiris said the sale would be the sixth major realisation from AXIO’s portfolio and was expected to complete in the second quarter of 2017.
Based on today’s exchange rates, Electra Private Equity PLC would receive proceeds from AXIO of £66m, an uplift of £21m or 46% and equivalent to an increase in its NAV of 45 pence per share on the valuation of Electra’s investment at 30 September 2016.
The sale would increase the total cash proceeds received by Electra from its investment in AXIO to almost £420m, or 4.6x original cost, and the total return, including Electra’s investment in the remainder of the AXIO Group, including TechInsights, to more than 5x original cost.
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