Kestrel exits its holding in KBC Advanced Technology generating an IRR of 40%

8 April 2016

Following completion of the takeover of KBC Advanced Technology by Yokogawa Electric Corporation in April 2016 for £180m, Kestrel announces that is has fully exited all its interests in the Company and that Oliver Scott has stepped down from the board as a Non-executive director.
The exit crystalises a profit of £15.2m for the Kestrel Opportunities fund yielding a return on invested capital of 2.9x and an IRR of 40%.
Kestrel first invested in KBC Advanced Technology in February 2010 and Oliver joined the board in December 2010. Over the following years, the Company underwent significant change with a completely new leadership team, a revised strategy, two acquisitions and a significant expansion of its software revenues.
Kestrel wishes KBC Advanced Technology every success under its new ownership.