UK - Enterprise Ventures realises 50% IRR on sale of TC Wild
Enterprise Ventures has wholly exited its stake in TC Wild Ltd, a manufacturer of forged precision rings for the aerospace, oil, gas and power generation sectors, through a management buy-back deal. The exit generated a return of 2.3x the money invested and an IRR of 50%.
Enterprise invested in the business in 2005, when it supported the management buyout of the company from the Gardener Group. Since this time the company has invested heavily in plant and equipment and generated substantial growth, with turnover doubling to £7.8m and pre-tax profits trebling.
The deal represents the first exit for the Coalfields Enterprise Fund, which was launched in 2004.
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