Kestrel exits its holding in Incadea generating an IRR of 46%

23 January 2015

Following completion of the takeover of Incadea PLC by Dealertrack Technologies Inc. in January 2015 for £122m, Kestrel announces that is has fully exited its holding in the Company.
The exit crystalises a profit of £5.7m for the Kestrel Opportunities fund yielding a return on invested capital of 2.0x and an IRR of 46%.
Kestrel first invested in Incadea in May 2012 and supported the company as it went through a period of substantial growth. Kestrel wishes Incadea every success under its new ownership.