Dunedin was given the award for its March 2006 sale at the Scottish Business Insider’s Deal and Dealmakers Awards 2006.
Dunedin sold Letts Filofax, the market leading supplier of personal organisers and diaries, to Phoenix Equity Partners in a £45m transaction generating a six times money multiple.
The sale was the first of five exits the firm made in the first half of this year, which earned it fifth place on exit volume in Mergermarkets European Private Equity in Review.
“I am delighted that this success story has been recognised,” said Brian Scouler, Dunedin’s portfolio managing director. “We backed the Letts management buyout in 2000 at a time when most commentators thought that PDAs would dominate the market.
“However, we identified the strong cash generative nature of the business which, together with the synergies driven by the Filofax acquisition resulted in annual profits growth of 70% by the time the business was sold.”
© Crimson Business Ltd. 2006
