Candover has sold Innovia (a manufacturer of films for packaging and the substrate for polymer banknotes – they are working on the new £5 and £10 notes) for €498m. this was the last asset in Candover’s 2001 fund. Candover Investments (the fund) will get €12.8m of proceeds and €7.6m of carried interest from the transaction.
One of the purchasers of the company was Electra. Electra are investing €40m in the deal.