Electra Partners is pleased to announce it has sold its interest in Thermocoax, a leading manufacturer of customised thermal solutions and temperature measurement systems.
Electra received proceeds of £12.3 million generating a return of 2.8x original cost on its investment in just under four years.
Electra's interest in Thermocoax was held as part of its €28 million secondary purchase of a majority interest in a fund managed by TCR Capital, a Paris-based mid-market buyout firm, in 2006.
Based on mineral insulated cable technology, Thermocoax's products serve a large number of sectors including nuclear energy, civil and defence aviation, solar energy, electronics and semi conductors, medical and scientific instrumentation, industrial and petrochemical. The company is headquartered in France and 75% of its sales are outside the country through its presence in the USA, China, Germany, UK and Holland.
Electra Partners refers to Electra Partners LLP acting on behalf of its client Electra Private Equity PLC ("Electra").