Pamplona Capital Management, a global private equity firm, has sold its 8.5 percent stake in New York-listed Nabors Industries, an oilfield services company generating a profit of more than $250 million.
The sale netted Pamplona’s Fund III, a €2 billion 2011-vintage, a return of more than 2x in just two years, according to a source familiar with the matter. Pamplona declined to comment on deal financials.
Earlier this week, Pamplona, which invests in both North America and Europe, acquired BBB Industries, a remanufacturer and distributor of automotive parts in the US. Financial details of these transactions were also undisclosed.
“We believe there are significant opportunities to grow both organically and through acquisitions,” Martin Schwab, a partner at Pamplona, said in a statement.
Pamplona is currently investing its Pamplona Fund IV, which held a €3 billion final close in June. The firm can invest across the capital structure and can invest in both public and private companies.
The firm manages over $9 billion in assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds.