Investec Wentworth Private Equity has sold it's stake in listed child care group Kids Campus to industry giant ABC Learning Centres. Investec acquired its equity just two years ago for about 40 cents/share, or approximately $12 million. I hear they have more than doubled their money . . . not a bad result at all.
The Kids Campus investment was a classic example of a private equity PIPE transaction. In addition to providing capital for operations, Investec also added value by raising a $25 million property trust which funded the building of new greenfield child care centres.
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