Electra Releases Animal Identification Tag Maker Allflex
July 22, 2013
Electra Private Equity has sold Allflex, a manufacturer of animal identification tags, to BC Partners for $1.35 billion. Subsequent to the sale, Electra has agreed to reinvest $85 million in the new buyout vehicle BC Partners established to acquire Allflex. Electra has received gross proceeds of $399 million with the sale, generating a gross return of 15x original cost and an IRR of 28%. The firm partnered with minority investor Intermediate Capital Group to acquire the company for $160 million in 1998.