Aberdeen Murray Johnstone Private Equity has sold its stake in Intron to The Laird Group in a deal worth £11.6m, marking the group’s eighth exit this year. The sale delivered a return to AMJPE clients of 2.3x the cost of their investment and an IRR of 20.8%.
Based in Gloucestershire, UK, Intron, which trades under the name of Homesafe Doors is a manufacturer of composite replacement doors for the social housing market with a growing interest in the private sector market. AMJPE invested £3m in a management buy-in of the company in July 1998.
Mike Collis of AMJPE, said: “The management team has been successful in growing this business during a period which has witnessed a general deterioration in manufacturing activity in the UK. Recognition should be given to the brave decisions made over the past few years to invest considerable sums in additional automation, improving factory efficiency and increasing capacity. This exit is yet another successful realisation for our client funds this year.”