Electra sells balance of Allflex stake

Epiris has announced that it has sold Electra Private Equity’s remaining stake in Allflex Corporation to an existing shareholder.

Electra has received proceeds of GBP70.3 million from the sale, an uplift of GBP1.5 million or 2% on the valuation of its investment in Allflex at 30 September 2016, equivalent to an increase in NAV per share of 3 pence. Including proceeds already received, this equates to a return of 1.9x original cost on Electra’s 2013 investment in Allflex; an IRR of 23%.

Allflex is the global leader in animal intelligence and monitoring technologies for livestock, pets, fish and other species. It designs, produces and distributes a variety of products such as radio-frequency identification (RFID) and visual ear tags, tissue sampling devices, RFID implants, monitoring devices, milk meters, and other farm management equipment. Allflex operates in 80 countries and employs over 1,800 people worldwide.

ELTA : Electra sells balance of Allflex stake