logo
Share SHARE
FONT-SIZE Plus   Neg

Electra Private Equity: Epiris Announces Sale Of OAG For About $215 Mln

Epiris Managers LLP, acting on behalf of its client Electra Private Equity PLC.(ELTA.L), announced Thursday that its portfolio company AXIO Group has sold OAG, an aviation information and intelligence company, to funds managed by Vitruvian Partners for approximately $215 million.

This is the fifth major realisation from AXIO's portfolio.

Electra has received proceeds from AXIO of 104 million pounds, an uplift of 37% and equivalent to an increase in its NAV of 60 pence per share on the valuation of Electra's investment at September 30, 2016.

The sale has increased the total cash proceeds received by Electra from its investment in AXIO to more than 350 million pounds.

Based in Luton in the UK, OAG is a provider of flight information and related analytical tools.

Alex Cooper-Evans, Partner at Epiris, said, "OAG is another AXIO success story. The business has been transformed during the period of our ownership with strategic focus, operational improvement and investment. OAG has grown earnings at more than 30% a year since 2013 and now has a clear strategy to continue its growth in the future.... The remaining businesses, RISI and TechInsights, have been repositioned since 2013, not only strategically but also in terms of scale, with earnings having more than quadrupled."

The company noted that Alex Fortescue, Alex Cooper-Evans and Sarah Williams are responsible for the investment in AXIO Group.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Checkout the few notable companies that are scheduled to release quarterly financial results on Thursday, December 14, 2017. - Growing Cloud Footprint To Bolster ADBE Q4 - COST Q1 Likely To Benefit From Holiday Weekend Sales - Growth And Diversification Strategy To Boost JBL Q1 Results - Will Cloud Propel ORCL Quarterly Performance? American Express Co. said that beginning in April 2018, card members will not be required to sign receipts for their credit card purchases. The company thus joins other major card companies such as Mastercard Inc. and Discover Financial Services Inc., who have previously announced similar changes. Costco members can now enjoy MoviePass subscription service and Fandor streaming service for $89.99. The subscription will be for one year. The offer will be available on Costco website for up to December 18. The annual subscription will offer access to Fandor's library of more than 5000 films and...
comments powered by Disqus
Follow RTT