Caledonia Investments sells 20% stake in B&W Group
Caledonia Investments has sold its 20% stake in audio equipment manufacturer B&W Group for £24m in cash, and an accrued dividend of £500,000.
Caledonia Investments
3,475.00p
17:15 20/09/24
Equity Investment Instruments
11,853.67
16:49 20/09/24
FTSE 250
20,831.84
16:39 20/09/24
FTSE 350
4,543.89
16:49 20/09/24
FTSE All-Share
4,501.08
17:04 20/09/24
The deal was part of the wider sale of Bowers & Wilkins to US-based technology company EVA Automation Inc.
“Caledonia originally invested in Bowers & Wilkins in December 2011 and its exit at this time follows the majority owner's strategic decision to partner with EVA to leverage the Bowers & Wilkins brand through the broader market reach and technology platforms that EVA can offer.”
The investment has returned to Caledonia a money multiple of 1.2x and an internal rate of return of 3.6%.
At 1110 BST, Caledonia shares were down 0.5% to 2,472p.