 | |
| Type | Public Company |
|---|---|
| LSE: ELTA | |
| Industry | Private Equity |
| Founded | 1976 |
| Headquarters | London, UK |
Key people | Neil Johnson, (Chairman) |
| Products | Investments, private equity funds |
| Revenue | £54.0 million (2017) [1] |
| £10.0 million (2017) [1] | |
| £7.0 million (2017) [1] | |
| Website | www.electraequity.com |
Electra Private Equity is a British-based investment trust specialising in private equity. It is listed on the London Stock Exchange.
The company was founded by Michael Stoddart in 1976 as Electra Investment Trust. [2] In 1999 3i Group made an unsuccessful hostile bid to take over the company. [2] In 2005, Electra Partners Europe completed a spinout from its investment trust parent. [3] The following year, in 2006, Electra Partners Europe renamed itself Cognetas. [4]
In August 2021, the company announced that, following the spin-off of its hospitality business ″Hostmore Plc″, it would rename itself Unbound Group and transfer to the Alternative Investment Market. [5]
At a General Meeting held on 30 October 2018, shareholders approved a change of the investment objective and policy to the following: "The investment objective is to follow a realisation strategy which aims to crystallise value for shareholders, through balancing the timing of returning cash to shareholders with maximisation of value. The Company will not make any new investments but will continue to support its existing investments to the extent required in order to optimise returns. The Company will retain sufficient cash to meet its obligations and to support its portfolio assets, with cash from realisations being invested in AAA rated money market funds pending utilisation or return to shareholders." [6] Among the firm's most notable investments are: [7]
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