Portfolio Management

Black Teknigas

In May 2005 we exited our investment in the manufacturer of gas control equipment, generating a cash on cash return of 1.5x and an Internal Rate of Return (IRR) of 21% over 3 years on the original Ł1 million investment. The business performed well following our investment in 2002 and was able to redeem both bank debt and institutional loans ahead of schedule. The management team, led by Dave Martin, bought back our stake in the business and now controls 100% of the company.

Black Teknigas

Initial Investment: May 2005

Company: Black Teknigas

Company website: www.blackteknigas.com

Deal Type: Exit

Sector: Specialist Manufacturing

Team: Portfolio Management

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