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CMO IPO caps hat-trick of high multiple exits for KCP

The recent IPO of online building products retailer CMO Group PLC (Ticker; CMO) rounded off a busy and productive 12 months for private equity firm Key Capital Partners (KCP).

The flotation represented the firm’s third high-value exit in the last 12 months; coming hot on the heels of the sale of nursing business Routes Healthcare (North) to Palatine Private Equity in June and IT training and consultancy firm Sparta Global to Inflexion in October.

In aggregate, the three exits delivered total proceeds of £96 million to the firm’s eighth fund; a combined money multiple of 5.8x KCP’s total investment in the three deals.

KCP Managing Partner Owen Trotter commented: “It’s great to have worked with the talented and committed management teams at Sparta, Routes and CMO. Their success demonstrates that even with the challenges of Covid-19, well run businesses in the right sectors can deliver stellar growth and great returns.”

“These exits have got our eighth fund off to a flying start as it enters its realisation phase. There are five remaining investments in the fund; all of which are trading well. As things stand the fund looks on track to deliver a very pleasing result for our investors.”

KCP makes equity investments of between £3m and £15m and has a strong reputation of deliverability and a track record of producing outstanding returns for its investors. Other current investments by the firm include Total Integrated Solutions, The Kite Factory, YorkTest Laboratories and Avantis Education.

Posted in All, Exits on Jul 20, 2021