Fund and Fund
Electra Selling A Stake in Amtico
By London, United Kingdom
Jul 20, 2006, 06:49

Electra Private Equity PLC ("Electra") is pleased to announce it has entered into a conditional agreement for the sale of its interest in Amtico to a secondary management buyout arranged by ABN AMRO Capital.

At the completion of the transaction, Electra would receive £37.7 million. Electra has agreed to reinvest a total of £22.5 million in a mixture of equity and mezzanine debt in the secondary management buyout. 

In 1995 Electra invested £17.1 million as part of the £52.8 million management buyout of Amtico from Courtaulds. Amtico designs, manufactures and markets laminated vinyl flooring tiles.

The company is focused on producing premium priced quality products that simulate other materials (wood, marble, slate, metal etc.) with a high design element in a comprehensive range of styles. The company manufactures in the UK and USA and sells its products globally. Customers are both commercial and residential.

INFO SOURCES

Electra Private Equity PLC

FIRMS

Amtico designs, manufactures and markets resilient vinyl flooring products for both the commercial and residential markets which are sold globally.

In the year to 31 March 2006 sales were £86 million (2005: £81.4 million) and operating profit (before interest and exceptionals) was £9.4 million (2005: £8.6 million).

ADVISORS

Close Brothers acted as sole financial adviser to Electra.