UK private equity house Epiris has made the seventh and final realisation from its portfolio company AXIO Group, offloading intellectual property specialist TechInsights to fellow private equity firm Oakley Capital, according to a statement from Epiris.
Ottawa-based TechInsights offers advice on managing intellectual property, patent brokerage and technical reverse engineering. The sale to Oakley is expected to be completed in the next two weeks, the statement says.
Based on today’s exchange rate Electra Private Equity, which provided the funds for the original investment, would receive proceeds of £26 million ($33.6 million; €30.6 million) from the sale, Epiris has calculated. This increases the firm’s total cash proceeds to £455 million, a 5x return on its original investment and an internal rate of return of 76 percent.
The portfolio of Electra Private Equity used to be managed by Epiris, formerly known as Electra Partners, which will part ways at the end of May.
TechInsights helps people maximise the value of their patents through portfolio assessments, and by offering advice on licensing and litigation.
Epiris first invested in AXIO, a holding company focused on the business information sector, in 2013. In March the group sold RISI, which provides information to the global forest products industry, to London-based Euromoney for $125 million.
In February, it sold AXIO Aviation Holdings, a flight information and analytics provider, to Vitruvian Partners for $215 million. Back in October 2016, AXIO sold France-headquartered Vidal Group, a provider of reference drug information to healthcare professionals, for €100 million.