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 £33m 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 £8m management buyout of Theale-based Covion in May 2005.