UK - Midven exits Autochair; achieves 15% IRR
The HSBC UK Enterprise Fund for the Midlands, managed by Midven, has wholly exited its investment in driving aids provider Autochair Limited, generating a 2x return and an IRR of 15%.
Alfreton-based Autochair provides innovative driving aids to people with disabilities. Since the investment from the HSBC UK Enterprise Fund in 1999, the company has increased its product range, expanded its premises and quadrupled its sales. The number of staff has also risen from 11 to 31.
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