13 May 2013

Oakley Capital Private Equity sells Headland for £15.5 million

Oakley Capital Private Equity sells Headland for £15.5 million
Sector
Media
Location
UK
Fund
Fund 1

Oakley Capital Private Equity L.P. (the “Fund”) today announces that the disposal by the Fund of Headland Media Limited (“Headland”), a leading provider of media to retail, hotel, shipping and offshore sectors, to KVH Industries, Inc. has been completed for gross consideration of £15.5m

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 represents a 2.7x gross return for the Fund, with an IRR of 27%.

Peter Dubens, Managing Partner of Oakley Capital Limited (Investment Advisor to the Fund), 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”.