Bahrain-based Investcorp said on Thursday it had generated an enterprise value of $4bn from the recent sale of two North American businesses – workforce management firm PRO Unlimited and Arrowhead Engineered Products.
“We confirm that the aggregate enterprise value is $4 billion for the 2 PE (private equity) exits in North America (Pro Unlimited and Arrowhead),” a company spokesperson said in an email.
Investcorp said it and funds managed by Harvest Partners had completed the sale of PRO Unlimited to EQT Private Equity, while Riverside, which focuses on the smaller end of the middle market, and Investcorp announced the sale of Arrowhead Engineered Products (AEP) to Genstar.
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Investcorp last month posted a net profit of $124 million for its financial year ending June 30, rebounding from a loss a year earlier, citing strong activity across its core businesses that helped boost fee and asset-based income.
The firm, which focuses on private equity, real estate, credit management and absolute return investments, said it had raised $1 billion for a new North American private equity fund.
Source: Yahoo Finance
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