Energy Ventures has sold its investment in Caltec, a supplier of equipment for improving production from oil and gas wells, to Petrofac Ltd for an initial consideration of £15m, with this potentially rising to £30m if the business reaches performance milestones.
Investindustrial sells its remaining stake of 4.12% in the company, fully exiting the investment
Following the deal, CCV Schweiz will be integrated with Concardis Schweiz, which is part of Nets Group
Minority shareholder IMS Capital has also filed for insolvency; Getnow is now seeking new investors
Exit from Rutland Fund III realises a return of 5.7x on the original cost of the investment