August Equity has backed the £29m secondary management buyout of Boat International Group from funds managed by Henderson Private Capital. August Equity invested £13.4m of equity funding alongside debt facilities provided by Lloyds TSB to acquire the leading publisher of superyacht magazines.
Austria-based electrical engineering company had filed for insolvency in April 2020
VC house expects to hold a €35-45m first close by the end of July and a final close in around one year
LPs in Exponent III include Aberdeen Standard Investments, Central Pension Fund and CNP Assurances
Company has generated €12m in revenues and has a 25% EBITDA margin