Electra Private Equity has kicked off a jumble sale of its remaining assets after agreeing the disposal of its investments in Photobox and Knight Square.
The quoted investment trust said that the sale of its minority stakes in Photobox, the online photo-printing business, and Knight Square, a residential property manager and healthcare provider, to Lexington Partners, an American private equity firm, would bring shareholders dividends totalling £161m.
Electra said that once the two businesses were sold, it would carry out a “managed wind-down” of its investment portfolio, mainly comprising of TGI Fridays, the restaurant chain, and Hotter Shoes, the footwear retailer.
