UK - Octopus and Foresight see 4.4x return on Covion exit

Octopus Private Equity and Foresight Group have seen a 4.4x return from the sale of facilities infrastructure service business Covion. Trade buyer Balfour Beatty Group Ltd acquired Covion for ТЃ33m ending Octopus and Foresight's two year ownership of the company. The exit generated an IRR of 84% for the two investors which backed the ТЃ8m management buyout of Theale-based Covion in May 2005.