PRINT THIS PAGE

UK Kleinwort Capital makes eight times return on sale of Vivista to SunGard

UK buy-out firm Kleinwort Capital has sold its portfolio company Vivista Holdings to software and processing solutions provider SunGard Data Systems in a transaction that will generate cash proceeds of 8.1 times the initial investment and an IRR of 254 per cent per annum, according to the firm. The final consideration could increase the transaction proceeds by up to a further £5.5m.

Vivista Holding, formerly Securicor Information Systems, is a provider of information and communication technology and business support services providing systems and services in the UK public safety, criminal justice and local government sector.

Kleinwort Capital managing director Richard Green said, 'This has been an outstanding investment for us. We were originally approached by the MBO team because of our expertise in the technology sector and our focus on helping management teams.'

Steven Clarke, the KCL director who led the investment, added, 'The speed at which Vivista outperformed its MBO business plan is outstanding. Vivista has plenty more opportunities for future growth in its core markets, including business process outsourcing.'

Kleinwort said that it had had a number of offers for Vivista and that it selected SunGard because of its strategic and management fit with Vivista.

Kleinwort Capital focuses on mid-market private equity investments of between £10-100m in UK growth companies in the media, technology, healthcare and specialist manufacturing sectors. Kleinwort Capital has £300m under management from pension funds, insurance companies, local authorities and private banks.

Copyright © 2005 AltAssets