NVM sees 5.6x Barony return

NVM Private Equity has wholly exited its stake in aerosol manufacturer Barony Universal Products through a trade sale to Questbridge, owners of the largest aerosol manufacturer in Russia, for an undisclosed sum, realising a return of 5.6x the money invested and an IRR of more than 29%. The deal marks the third exit of the year for NVM.

NVM originally backed the £1.4m management buyout of Barony in 1999, investing £750,000 for an equity stake of just under 50%. The company has grown ahead of expectations since the investment, particularly through the securing of significant contracts with multiples such as Tesco and Boots to produce their own brand products.

Barony, founded in 1994, is based in Cumnock, Ayrshire, and currently employs around 100 staff. (Page 44).

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