Electra to target distressed sellers after a defensive investment year

Electra took a defensive investment approach for the year, with £88m invested and £27m (€29.6m) realised, compared with £114m (€125.2m) and £192m (€210.8m) in 2008, but said that it was ready to start investing again, specialising in distressed sellers across the capital structure, including equity owners and debt holders.

Sir Brian Williamson, chairman of Electra, said, “With our stable portfolio, [Electra] is not firefighting, and can devote its energies to seeking new opportunities.”

The firm, whose companies include animal tag business Allflex and UK feminine hygiene company Lil-Lets, says that its portfolio has held up well during the crisis.

“As you would expect in these unprecedented times, the operating environment for many of our portfolio companies has been more challenging than it was a year ago with varying degrees of pressure on working capital being reported. However, considering the current environment, we are pleased to say that our portfolio is in good shape,” said Williamson.

Electra says that it currently has an investment capacity of £218m (€239.4m).

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