UK - 3i sells stake in Tensar to US-based Tensar Corp
3i has sold its minority stake in Tensar, which provides innovative engineering solutions to a wide range of construction problems, to US-based Tensar Corp in a ТЃ68m deal.
3i originally backed the MBO of Tensar in 1994 when it invested £7.2m alongside Electra Private Equity. 3i will receive proceeds of £22m which represent a 3x money multiple.
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