Electra Private Equity has announced that portfolio company, AXIO Data Group, has agreed to sell MIMS, its Asian healthcare information business, to SMS and Mitsui for $250m. The transaction, which is expected to complete later today, will result in an increase in Electra’s diluted NAV per share of 122p compared to the 31 March 2015 valuation of AXIO (According to Electra and based on today’s exchange rates). Electra is expected to receive net proceeds from AXIO of £95 million in relation to the sale of MIMS.
Electra invested £91 million in AXIO in April 2013 and the sale of MIMS is the third major realisation from AXIO’s portfolio following the sale of the JOC Group and Breakbulk in 2014. Following this latest disposal, AXIO comprises four information businesses (Vidal in the healthcare sector, TechInsights in the intellectual property licensing sector, OAG in the global transportation sector and RISI in the forest products sector). Together these remaining businesses produced EBITDA of approximately £20 million in 2014.
Electra Private Equity’s AXIO Data Group sells MIMS for $250m : ELTA