Further to the announcement of 7 October 2016, Epiris is pleased to announce that, following satisfaction of the conditions to which the transaction was subject, its portfolio company AXIO has completed the sale of Vidal to M3, Inc.
Electra Private Equity PLC (“Electra”) has received proceeds from the sale of £55 million. This takes total cash proceeds from Electra’s investment in AXIO to almost £250 million, or 2.7x original cost, and the total return including Electra’s investment in the remaining AXIO businesses to 4.0x original cost.
Vidal is a leading European healthcare informatics and information systems company. The company provides hospitals, primary care physicians, pharmacists and patients across Europe with access to up-to-date drug databases and related treatment-based information, and so brings drug intelligence and clinical decision support tools directly to the point of care.
Electra invested £91 million in AXIO in April 2013. AXIO originally comprised a portfolio of seven information businesses serving a range of sectors in over 25 countries. Following the sale of the Vidal, AXIO comprises three businesses providing critical, and often industry-standard, information and tools. The group’s brands include OAG in the global aviation sector, RISI in the forest products sector and TechInsights in the advanced technology intelligence and patent advisory sector.
Epiris refers to Epiris Managers LLP acting on behalf of its client Electra Private Equity PLC.
For further information please contact:
Andrew Honnor, Matthew Goodman, Matthieu Roussellier, Greenbrook Communications
+44 (0)20 7952 2000
Nicholas Board and Andrew Kenny, Epiris
+44 (0)20 7306 3902
Note to Editors:
About Epiris LLP
Epiris is an independent private equity fund manager with over 25 years' experience. During this time it has invested in excess of £4.7 billion in over 200 deals. As at 31 March 2016, the firm had funds under management of
Epiris’ flexible investment strategy allows it to invest broadly across the private equity market with a particular focus on Buyouts and Co-investments, Secondaries and Debt.
The firm's major client is Electra Private Equity PLC (“Electra”), a private equity investment trust which has been listed on the London Stock Exchange since 1976. Electra’s long-term investment performance has been consistently superior to private equity and other benchmarks. Over the ten years to 31 March 2016, Electra has seen diluted NAV per share growth of 228%. This is more than seven times the NAV per share return of the Morningstar Private Equity Index (ex. Electra). It is also equivalent to a ten-year annualised return of 13%, in the upper part of Electra’s target range of 10-15% over the long-term.
For further information please visit www.epiris.co.uk.
Electra Partners LLP is authorised and regulated by the Financial Conduct Authority.