UK - 3i sells HSS to Aurigo and Och-Ziff
3i has announced the sale of UK tool hire company HSS to Aurigo and Och-Ziff for ТЃ310m, generating a multiple of 4x for the investor. 3i acquired HSS in 2004 and during its ownership of the asset re-structured its business model. Hawkpoint Partners and Travers Smith advised 3i on the deal. HSS reported EBITDA of ТЃ40m for the financial year ending March 31, a 30% increase from the last figures prior to the investment by 3i.
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