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UK-based Electra achieves exit for pub company Tom Cobleigh03/03/2003. Source: AltAssets. 
 European private equity firm Electra Partners Europe has announced the sale of Tom Cobleigh to a trade buyer, Spirit Group.
The sale represents the first disposal from the Electra European Fund, which closed at E1bn in 2001.
Electra acquired a 78 per cent stake in a management buy-in of Tom Cobleigh in 2000, investing £28m. The firm has realised £55m in the sale to Spirit Group, which had a transaction size of over £100m.
Rupert King, director of Electra Partners Europe, said: ‘This deal provides a good return to the Electra European Fund. We are delighted with the way the Tom Cobleigh business has developed over the last two and a half years.'
As liquidity remains a real problem for most private equity firms, a trade sale represents a grain of hope for those looking for signs of a turnaround in the market.
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