Private Equity News & Analysis

Aberdeen doubles money on shipping exit(2)

The private equity business of Aberdeen Asset Managers has doubled its money on the exit of shipping business RMS Europe Group.

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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.