UK - 3i makes 3.4x its money on sale of WiIliams Lea

Williams Lea provides a complete range of document-related solutions spanning the spectrum of inbound, document management and outbound services, operating from over 400 locations across the US, Europe and Asia Pacific.

3i invested £20m in Williams Lea in March 2004 to enable the business to secure longer term contracts and make important acquisitions. At the same time, a £14m tender offer resulted in 3i having a minority stake of 38%. Working in partnership with the company, 3i has supported Williams Lea in identifying and implementing a number of acquisitions. The company achieved critical mass in the US following the 2004 acquisition of its joint venture partner, Bowne Business Solutions and the 2005 acquisition of Uniscribe strengthening its ability to deliver global solutions to its clients. With the additional development of capability in India and the acquisition of Creatis in Australia in 2005, the business now boasts a unique global footprint.

3i's proceeds from the investment represent a money multiple of 3.4x and an IRR of 83%.

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