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05 March 1998
Ultimate Business - Credit Control 1997 Expansion Services
Two more exits for Gresham
Gresham Trust, the private equity house, has achieved two successful exits in less than a week.
The sale of HTEC to Card Clear, a fast-growing AIM company, completed on 19 February. On 25 February, Ultimate Business Services was purchased by Equifax, the database service provider.
Gresham achieved a 120 per cent IRR on the HTEC investment and a 190 per cent IRR on its investment in Ultimate Business Services.
Both of these exits were managed by Ken Lawrence, the Gresham Trust director responsible for realisations. This activity on the realisation front is mirrored by the current high level of activity on new investments.
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