Electra’s Axio sells Breakbulk
Electra Partners portfolio company Axio Data Group has sold logistics intelligence business Breakbulk to ITE Group.
The transaction generated proceeds of £10m for Electra Private Equity. The deal came shortly after Axio's sale of JOC Group to US trade buyer IHS. In total, Electra has generated cash proceeds of £76m from the divestments.
Previous investment
Electra acquired the Axio group – then the data services business of UBM – in a £148m spin-off deal in February 2013. The GP committed £91.5m from Electra Private Equity and an additional £11.5m from Electra Partners Club 2007.
Company
Breakbulk provides logistics intelligence through exhibitions, congresses, workshops and media products for those working in the oil & gas, power generation, mining, infrastructure and construction markets. The company hosts six annual events in Houston, Antwerp, Shanghai, Johannesburg, Istanbul and São Paulo.
People
Alex Cooper-Evans is a partner at Electra Partners. Henry Elkington is CEO of Axio. Breakbulk's managing director Alli McEntyre remained with the business following the deal.
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