Electra’s Nuaire in £32m refinancing

The deal sees the Caerphilly-based business refinance its debt and return capital to shareholders. However, Electra has not reduced its holding in the company, which remains at 38.8%.

RBS is now the sole arranger for the company, after it provided a combination of senior debt and asset-backed lending.

Previous investment
Electra acquired Nuaire in April 2007 from previous sponsors ECI Partners, in a deal supported by RBS. The transaction was worth £83m with Electra investing £23m and RBS providing a £40m senior debt package.

ECI purchased Nuaire in a management buyout from its founder for £38m in 2004.

Company
Based in Caerphilly, Nuaire designs, manufactures and distributes energy-efficient ventilation systems to commercial and residential buildings.

The company employs more than 400 people and generates annual turnover of £55m.

People
Stuart Allison is relationship director at RBS. Rob Parry is Nuaire's financial director.

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• Exits
• UK / Ireland
• Electra Partners LLP
• ECI Partners
• Royal Bank of Scotland
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