Engine Group is to announce the sale of 100 per cent of its shares to Lake Capital for the sum of £100m later this evening, a move that will see present private equity owner HIG bought out.
The investment by HIG first came in 2010 when the two companies agreed a £62.5m deal over two years to aid Engine’s expansion into new markets, namely the US and China.
The deal gave HIG a 40 per cent stake with Engine CEO Peter Scott saying at the time that the group would grow revenues to $1bn within five years.
Its 2013 financial results indicated that Read full story ›
Source: The Drum
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