Inflexion nets 50% IRR on quick Outdoor Plus exit

The UK buyout house earned an IRR of 50% over the two-year holding period, Unquote understands. It sold the company to Global Radio, the commercial radio firm that owns LBC.

Under Inflexion's ownership, the firm opened 12 new digital sites in conjunction with Transport for London, with three more secured. Meanwhile, around 30 traditional sites have been converted to digital.

Outdoor Plus was in the portfolio of Inflexion's Partnership Capital Fund I, a £400m vehicle that closed in 2014 and specialises in minority investments.

Company
Founded in 2006 and headquartered in London, Outdoor Plus is a provider of digital advertising billboards across the city. The company's clients include Jaguar, Google, Jimmy Choo and Samsung.

It turned over £29.7m in 2017, up from £22.7m the year before, and employs 30 staff.

People
Inflexion – David Whileman (partner); Josh Kaufman (partner).
Outdoor Plus – Jonathan Lewis (managing director).

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• Topics
• Exits
• Media
• UK / Ireland
• Inflexion Private Equity
• Trade sale