{"id":655945,"date":"2013-05-03T07:44:08","date_gmt":"2013-05-03T11:44:08","guid":{"rendered":"http:\/\/www.pehub.com\/?p=199930"},"modified":"2013-05-03T07:44:08","modified_gmt":"2013-05-03T11:44:08","slug":"bc-partners-makes-1-3-bln-offer-for-allflex","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/655945","title":{"rendered":"BC Partners Makes $1.3 Bln Offer for Allflex"},"content":{"rendered":"

Electra Partners<\/strong> said Friday that it has received a $1.3 billion binding offer for Allflex Holdings<\/strong>. BC Partners<\/strong> is the buyer, Electra says. Allflex makes and distributes plastic and electronic animal identification tags. The sale will generated gross proceeds of $630.5 million for Electra Partners’ clients, including Electra Private Equity which will receive $398 million on the close of the deal. This represents a gross return of 15x original cost and an IRR of 28%. Rothschild<\/strong> advised Electra Partners and Allflex.<\/p>\n

PRESS RELEASE<\/p>\n

Electra Partners today announces it has received a binding offer for Allflex Holdings (\u201cAllflex\u201d), the world\u2019s leading manufacturer and distributor of plastic and electronic animal identification tags, from funds advised by BC Partners.
\nThe offer is subject to consultation with the relevant works council in France and certain regulatory approvals. If the offer is accepted, and reflecting current exchange rates, acceptance of the offer will generate gross proceeds of US$630.5 million to clients of Electra Partners. This includes Electra Private Equity PLC who will receive US$398 million (\u00a3256.7 million) on closing, representing a gross return of 15x original cost (including income) over the 14 years of investment; an IRR of 28%.
\nElectra Partners and Allflex were advised by Rothschild.
\nElectra Partners first invested in Allflex in 1998 investing US$46 million in the US$160 million buyout of the company. The business has since been refinanced a number of times such that total cumulative proceeds receivable by Electra Partners\u2019 clients after completion of this transaction will amount to US$835 million.
\nOver the 14 years of Electra Partners\u2019 ownership, Allflex has seen strong organic and acquisitive growth driven by increased focus on food chain traceability and mandatory regulations controlling the spread of animal diseases. To capitalise on increasing demand, Allflex introduced new products, extended tagging to more species, and expanded into new geographical markets such as China and Africa.
\nDavid Symondson, Deputy Managing Partner at Electra Partners, said:\u2028\u2028\u201cAllflex is an excellent business which has proved to be a first-class investment for Electra Partners delivering strong returns at each of the refinancings over the years and now at the sale. Over this time, the company has become the leading global provider of animal identification tags with an expanded product range which includes RFID and tissue sampling tags.\u2028\u2028\u201cAs with the sale of Capital Safety Group, which we sold last year for a 6.5x multiple, Allflex is another proven example of Electra Partners creating substantial value for clients by transforming international businesses into truly global leaders in their fields.\u201d\u2028\u2028David Symondson and Rhian Davies were responsible for the investment in Allflex. \u2028\u2028Electra Private Equity PLC has already issued a statement in relation to the impact of the sale of its interest in Allflex.\u2028\u2028The sale follows a busy start to 2013 for Electra Partners in which it has announced the realisation of its investment in esure, which generated a 3x return, and three new investments: UBM Data Services (now called AXIO Data Group), a portfolio of secondary private equity funds, and CALA group.\u2028\u2028Electra Partners refers to Electra Partners LLP acting on behalf of Electra Private Equity PLC and other clients.<\/p>\n

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Electra Partners said Friday that it has received a $1.3 billion binding offer for Allflex Holdings. BC Partners is the buyer, Electra says. Allflex makes and distributes plastic and electronic animal identification tags. The sale will generated gross proceeds of $630.5 million for Electra Partners’ clients, including Electra Private Equity which will receive $398 million […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-655945","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/655945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=655945"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/655945\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=655945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=655945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=655945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}