Small buyout specialist Matrix Private Equity Partners has received further proceeds on two exits originally completed in 2006 and 2007.
Small buyout specialist Matrix Private Equity Partners has received further proceeds on two exits originally completed in 2006 and 2007.
On behalf of its clients, the Baring English Growth Fund and the Income and Growth VCT, MPEP supported the part management buy in and part management buy out of Secure Mail Services in 2002. The first stage of the exit was completed in 2006, with additional proceeds received through 2007, 2008 and 2009.
In total, MPEP has achieved an IRR of 40 per cent and a cash multiple of 3.8 times of the total cost of investment. SMS offers a secure courier service for high value and sensitive items such as credit cards and passports.
On behalf of its institutional client, the Baring English Growth Fund, MPEP supported the management buyout of Ruskin Homes in 2002. The first stage of the exit was completed in 2007, with additional proceeds received in 2009.
In total, MPEP has achieved an IRR of 26 per cent and a cash multiple of 2.7 times of the total cost of investment. Ruskin is a residential housing developer, specialising in brown field sites.
