7th Oct 2015 06:56
LONDON (Alliance News) - Electra Private Equity PLC on Wednesday said portfolio company AXIO Data Group has struck a deal to sell its Asian healthcare information arm, MIMS, to Asia-Pacific-based information provider SMS and Japanese bank Mitsui for USD250.0 million.
The deal is the third major realisation made by AXIO following the 2014 disposals of JOC Group and Breakbulk.
Electra said it expects to get net proceeds of GBP95.0 million from the sale. Including the JOC and Breakbulk, Electra said it will have received total cash from its AXIO investment of GBP180 million, compared to the GBP91 million it invested in the company in April 2013.
"Our plan for AXIO is to transform each business by developing the right long-term strategy and then delivering through operational improvement and M&A. This is resulting in some extremely high-quality niche businesses that are very attractive to strategic purchasers. The MIMS story shows exactly this plan in action," said Electra Partners's Alex Cooper-Evans.
By Sam Unsted; [email protected]; @SamUAtAlliance
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