31.03.2008

LMS sells stake in Energy Cranes

LMS Capital Plc has announced that it has sold its entire stake in Energy Cranes International Ltd to a management buyout team backed by Close Brothers Private Equity for £83 million.

The investment company said the net proceeds of the sale, which placed an enterprise value on Energy Cranes of £142 million pounds, amounts to £83 million in cash.

It added that it will use the funds to develop its investment portfolio and general corporate purposes.

See original story - bid for Energy Cranes