Electra announces the refinancing of Capital Safety Group Limited

Electra Investment Trust PLC (“Electra”) is pleased to announce the refinancing of Capital Safety Group Limited (“CSG”) in a transaction led by Barclays Bank plc.

CSG is the world’s leading specialist designer and manufacturer of height safety and fall protection equipment. Its globally recognised brands include DBI, Sala and Protecta. Its manufacturing sites are based in USA, Canada and France. 

As a consequence of the refinancing, Electra will receive cash proceeds of $70.9m together with interests in the new company valued at $30.3m. At current exchange rates, the transaction will give rise to an increase in Electra’s net asset value since 31 March 2005 of £10.5m representing an uplift in net asset value per share of 24.1p. 

Electra and CSG were advised by Close Brothers Corporate Finance.