EPIC portfolio sold to EPE Special Opportunities
EPIC Private Equity has sold the portfolio of its EPIC plc fund to EPE Special Opportunities (EPESO), a listed vehicle it also manages, according to reports.
EPE has paid £22m for the portfolio - £10m in cash, £10m in convertible loan notes and £2m of EPE shares issued at 55.86p a share. EPIC's assets were valued at £26.4m at the end of January 2010.
EPIC Private Equity manages both the listed funds. EPIC plc focuses on LBO and growth capital, while EPESO is a turnaround and special situations fund. EPESO had a portfolio of four investments prior to the takeover; it now has stakes in nine additional companies including Evolving Media, Ryness and Pharmacy2U.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com
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