Graphite sells LS Group to SIG for £47m

Today’s transaction provides Graphite with a total return of 6.1 times its investment and an internal rate of return of 60%. Graphite acquired a 70 per cent holding in LS in 1999 when it backed the £13m management buyout of the recently merged Leaderflush and Shapland businesses from Whitecroft Plc.

LS is the UK’s largest manufacturer of high performance interior doors and door sets made to order for public buildings, hotels, schools, hospitals and offices. Its operating profit increased from £1.7 million in 1999 to £5.5m in the year to March 2005.

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