Completion of Disposal of Headland Media Ltd

RNS Number : 5059E

Oakley Capital Investments Limited

13 May 2013

 



13 May 2013

Oakley Capital Investments Limited ("OCIL" or the "Company")

Completion of Oakley Capital Private Equity L.P.'s disposal
of Headland Media Limited for £15.5 million

Oakley Capital Investments Limited (AIM: OCL), the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P. (the "Fund"), today announces that the disposal by the Limited Partnership of Headland Media Limited ("Headland") to KVH Industries, Inc. has been completed for an enterprise value of £15.5 million. Headland is a leading provider of media, entertainment and news digest services to the retail, hotel, shipping and offshore sectors and to remote locations.

The Fund originally acquired Headland in January 2008 and over the period of the Fund's ownership Headland has completed four bolt-on acquisitions. The transaction provides a 2.7x gross return for the Fund over the period of ownership, with an IRR of 27%.  The sale proceeds represent an approximate 14% uplift in the net asset value attributed to Headland by the Limited Partnership at 31 December 2012.

Peter Dubens, Director, commented:

"Headland has been another successful investment for the Limited Partnership offering an attractive return to investors.  The Oakley and Headland management team successfully completed a planned buy and build strategy, selling to a strategic buyer. It has been a pleasure for the Oakley team to work with the management of Headland, and we wish them continued success in the future."

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For further information please contact: 

Oakley Capital Investments Limited	[phone]
Peter Dubens, Director
FTI Consulting	[phone]
Edward Bridges / Emily Hartman
Liberum Capital Limited (Nominated Adviser & Broker)	[phone]
Steve Pearce / Steven Tredget

About Oakley Capital Investments Limited ("OCIL")

Oakley Capital Investments Limited is a Bermudan based company listed on AIM. OCIL seeks to provide investors with long term capital appreciation through its investment in Oakley Capital Private Equity L.P. and, over time, through co-investment opportunities.

About Oakley Capital Private Equity L.P. ("OCPE")

Oakley Capital Private Equity L.P. is an unlisted UK and European mid-market private equity fund with the aim of providing investors with significant long term capital appreciation.

The Limited Partnership's investment strategy is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Limited Partnership seeks to invest in companies with scale in their industry subsectors, thereby creating a sustainable earnings stream which should command a premium on exit.

 

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