Wed, 04 Sep 2013 | BUSINESS SALE
Reports have suggested that Phoenix Equity Partners, a London-based private equity firm, is preparing Precise Media Group for sale.
Two people familiar with the situation informed Financial News that Phoenix is working with professional services firm KPMG to ready the business for sale.
A sale is unlikely to go ahead until the first or second quarter of next year, but when it does go through the sale could net Phoenix in the region of £60 million.
The firm is also selling off NFT, reports from Private Equity News has revealed. The business transports chilled food and drinks to outlets including Sainsbury's and Marks & Spencer. It is expected to net around £70 million at auction with a sales process due to kick off this autumn.
A sale of NFT at £70 million and Precise at £60 million would deliver a strong profit for Phoenix, which bought the companies for £51 million and £42 million respectively.
Earlier this year, Sachin Date, head of private equity for Europe, Middle East, India and Africa with Ernst & Young, commented on this level of deal: “When we look at the types of businesses that operate in this value bracket we can see why there are less deals. Typically, these businesses are less diversified, operating in a single market with single products and services offerings.
“Investors today are on the hunt for multi-sector, multi-product and multi-jurisdiction assets which are able to spread their exposure to fluctuating macro-economic conditions.”
___________________________________________________________________________
Related information:
View the latest businesses for sale
A rare chance to acquire a Midlands-based retail designer renowned for custom shop fittings and innovative design solutions, complete with in-house design and manufacturing capabilities.
This mixed dental practice offers a predominantly private service with the addition of NHS general and orthodontics contracts, benefiting from a large and loyal patient base as well as a thriving hygiene function.
LEASEHOLD
This is a reputable drainage solution company with a long-established presence and an excellent reputation in Somerset.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.