Liberty Services' Sale Prints PHD Equity a 9.2x Multiple
February 03, 2014
PHD Equity Partners, an independent investment and advisory PE firm, has sold specialist printer Liberty Services to Capita, a business process management and outsourcing company. PHD disclosed a 9.2x money multiple and a five-year IRR of 70.4% from the sale. The U.K.-based firm bought Liberty, which specializes in parking tickets and penalty notices, in December 2008, and grew its EBITDA fivefold during its holding period.