Electra sells Daler-Rowney to Fila for €80.8m

The deal awarded Electra's listed parent with proceeds of £32m, representing an uplift of £20m, or 163% on the September 2015 valuations of Daler-Rowney.

Fila paid €80.8m for the business. The listed group funded the deal with debt supplied by Unicredit, Intesa Sanpaolo and Mediobanca, raising around €130m in total to include a revolving credit facility as well as working capital for further expansion.

Previous investment
Electra backed the buyout of Daler-Rowney in March 2011, investing £26m, according to unquote" data.

Under Electra's stewardship, Daler-Rowney acquired the Lukas and Nerchau brands in 2012.

Company
Established is 1783 and headquartered in Bracknell, Daler-Rowney supplies fine art materials including brushes, papers and canvases. Its products are manufactured in the UK and the Dominican Republic, and are sold in 90 countries.

The company, which employs 700 people globally, generates revenues of £60m.

People
Electra Partners – Rhian Davies (senior adviser); Alex Cooper-Evans (partner); Zoe Clements (investment director).

Advisers
Vendor – Ashurst (Legal).

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