EPE Special Opportunities disposes its investment in Process Components – EPE Special Opportunities Limited (ESO) announces that ESO Investments (PC) LLP a limited liability partnership in which it is the majority limited partner, has disposed of its investment in Process Components Limited to Schenck Process UK Limited.
Following the disposal of Process Components, ESO’s estimated NAV per share as at 30 September 2018 is 216.31 pence per share, which incorporates a 11.16 pence per share uplift generated by the disposal valuation of PCL.
The disposal returns £13.6m total to ESO PC LLP at the exit date as cash and a total of £18.2m since the acquisition in March 2005 via income, loan repayments and the disposal proceeds. The total return to ESO PC LLP since March 2005 equates to a 4.5 times the money first invested (money multiple) and an IRR of 20.7% .
The disposal has a positive impact on ESO and was completed at a 44.1% premium to PCL’s prevailing holding value of £9.5 m.
ESO intends to use the capital returned for new deals.
More on ESO
EPE Special Opportunities seeks to invest £2-10 million in distressed, growth or buyout opportunities. It considers most industry sectors, including consumer, retail, manufacturing, financial services, healthcare, support services and media industries. EPE Special Opportunities partners with management and entrepreneurs to maximise value by combining financial and operational expertise in each investment. Whilst in general EPE Special Opportunities aims to take controlling equity positions, it may also seek to develop companies as a minority investor.
ESO : EPE Special Opportunities disposes its investment in Process Components