Altamir to announce the closing of four transactions that have stepped up portfolio turnover:
· The €50m1 investment in Marlink, the commercial satellite communications business spun off by the Airbus Group, of which €18m is invested directly and the remainder via funds2;
· The €17m1 investment in Sandaya, a French outdoor accommodation group with four- and five-star campgrounds in France and Spain;
· The €93.5m sale of Altamir's investment in Infopro Digital, France's leading provider of professional information services and Altamir's largest investment, representing a multiple of almost three times the amount originally invested;
· The €8.5m in revenue received on preference shares in Maisons du Monde, a former portfolio company, on the occasion of its recent IPO.
These transactions come in addition to those already closed during the first half of 2016:
· Three investments in the TMT sector totalling €88m1: InfoVista, worldwide provider of network performance software solutions; Melita, Malta's leading convergent telecoms network operator; Cabovis?o/ONI, Portugal's second-largest cable operator and one of its principal telecoms operators, respectively.
· The partial sale of Altamir's stake in Gfi Informatique, a French IT services company, for €25.2m;
· The sale of its remaining stake in Capio for €21.4m, generating an overall exit multiple of 1.6 times the amount invested;
· The partial sale of its stake in GardaWorld for €2.6m, generating a multiple of 1.5 times the amount invested in 2012;
· The sale of its stake in Rhiag for €1.9m, generating an IRR of 60% and a multiple of 3.3 times the amount invested in 2013.
Following these transactions, closed in the first half of 2016, Altamir's portfolio turnover stands at more than 20%, with investments of around €155m and divestments of €153m.
As a result, the portfolio is now comprised of 38 companies, vs. 36 at end-2015, and has three more companies (in net terms) in the TMT sector.
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