Aberdeen Asset Managers Growth Capital has sold shipping and cargo handling business RMS Europe Group, delivering a return of more than two times the original investment, for £21 million.
Aberdeen originally led the management buyout of the business in July 2004. The firm later appointed Mike Fell, a former director of Associated British Ports and a ports industry veteran, as chairman. Aberdeen also backed RMS’ acquisition of Freshney Cargo Services in February 2006.
The private equity business of Aberdeen Asset Managers comprises a growth capital segment and a buyout segment which together have more than £250 million under management.
The parent company is listed on the London Stock Exchange and manages nearly £90 billion of assets.