UK - NBGI floats Superglass generating 10.7x returns

NBGI Private Equity has recouped 10.7x its investment through the IPO of Superglass on the London Stock Exchange. The listing enables NBGI to divest its 50.9% stake generating an IRR of 244% on its two year involvement with the glass wool insulation manufacturer. On admission, the IPO values Superglass at an enterprise value of approximately ТЃ135m. This is the sixth exit from NBGIт€™s first Fund, with an IRR on exited investments to date of 76% p.a. and a cumulative money multiple of 6.9x. It follows yesterday's news that NBGIPE had seen a 6x return on its exit from retailer Mountain Warehouse.