In mid July, Electra Private Equity PLC completed the sale of Allflex Holdings to BC Partners for $1.35 billion. Electra received gross proceeds of $399 million, generating a return on investment of 15 times the original cost of purchasing Allflex in 1998.
BC Partners had announced an agreement to buy Allflex Holdings earlier in the year in a deal that valued the company at $1.3 billion. Later in May, an announcement from BC Partners showed the deal was backed by $810 million of covenant debt financing.
According to industry sources Electra had valued Allflex, its largest investment, at about $240 million dollars. Allflex claims to be the market leader in animal identification and traceability. According to BC Partners, AllFlex has 1,200 employees, operates in sixty countries, is headquartered in France and manufactures products in Brazil, France, Polland and China.
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