Published: February 22, 2012
Bahrain firm to make US$49.8mn profit from sale.
Investcorp has agreed to sell Redington International Holdings, a distributor of IT and telecom products, to current shareholder Redington India for US$114.8mn.
Following the completion of the deal Redington India will be the sole owner of the business, which operates in the Middle East, Africa and Turkey.
Investcorp is set to make a US$49.8mn profit on the deal, an IRR of 17%.
The Bahrain-based investor bought a 26% stake in the company in 2008 for US$65mn. The deal was funded through its Gulf Opportunity Fund I and will be the fund’s first exit.