UK - Busy times for Sovereign Capital
In the space of three days, Sovereign Capital Partners has completed an exit and an acquisition finance deal. The exit deal from SENAD Group, a specialist educational provider in Derbyshire, Staffordshire and Wales, generated an IRR of 110% and represents a money multiple of 6x. In 2003 Sovereign acquired Honourmead Schools for £22m and then proceeded to combine it with Principal Care Services, which it bought for £9.5m.
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