Electra in line to receive £66m from Axio’s sale of RISI

Epiris, the manager of Electra Private Equity, has announce that its portfolio company, AXIO Group, has agreed to sell RISI, an information provider for the global forest products industry, to Euromoney Institutional Investor PLC (Euromoney) for $125 million. Espiris says that the sale, which remains subject to regulatory approvals, would be the sixth major realisation from AXIO’s portfolio and is expected to complete in the second quarter of 2017.

Espiris says that, based on current exchange rates, Electra Private Equity PLC (Electra) would receive proceeds from AXIO of £66 million, an uplift of £21 million or 46% and equivalent to an increase in its NAV of 45 pence per share on the valuation of Electra’s investment at 30 September 2016. Espiris also says the sale would increase the total cash proceeds received by Electra, from its investment in AXIO, to almost £420 million. This is 4.6x original cost, and the total return, including Electra’s investment in the remainder of the AXIO Group, including TechInsights, to more than 5x original cost.

Espiris says that RISI is the most authoritative global source of forest products information and that the company offers the most comprehensive and current intelligence and data on supply and demand, pricing and costs across pulp and paper, wood products, timber, tissue and nonwovens markets. It says that, in particular, RISI price indices are critical to the daily business operations and trading activities of major paper and board, packaging and other forest product companies. Based in Bedford, Massachusetts, it employs 150 people across the United States, China, Belgium, Finland and Brazil.

Electra in line to receive £66m from Axio’s sale of RISI : ELTA

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