Electra completes sales of Parkdean, Innovia

Electra Private Equity on Monday said it had completed the sale of Parkdean Resorts to Onex Corporation for £1.35bn and its interest in Innovia Group to CCL Industries for £108m.

Electra said it had received £406m from the Parkdean sale, with its total proceeds from the investment at £516m, making a return of 3.9 times cost, and an internal rate of return (IRR) of 45%.

The company said the Innovia deal brought in £108m, equating to a return of 3.3 times cost, and an IRR of 51%.