Alaris Royalty cashes out of Solowave Designs with division sale
Canadian alternative equity firm Alaris Royalty Corp has repurchased its investment in Solowave Designs LP, a Mount Forest, Ontario-based designer and maker of outdoor living products. The repurchase, which provided Alaris with proceeds of $44.6 million, resulted after Solowave sold its children's play division, which represents most of its earnings. Alaris, which has backed Solowave since late 2010, said it earned a total return of $33.5 million, and an internal rate of return of about 17 percent. Earlier this year, PE Hub Canada reported on Alaris' exit from LifeMark Health.
4 October 2016•8 mins read
