Distributor influenced fund firm Allium Capital has been sold by its seven shareholders to an unnamed firm.
Allium, which built Foster Denovo’s Sequel Investments proposition and SimplyBiz’s Verbatim range, has been sold off by its two major shareholders venture capital firm Osprey Capital and boutique investment bank Dexion Capital, and five smaller shareholders.
Allium’s managing director Ronan Kearney, who is also the chairman of Osprey Capital, will step down in the third quarter of 2013, when the name of buyer will also be revealed.
Osprey said it would make a 12-fold return on the investment it made in Allium four years ago as a result of the sale.
Kearney (pictured) said Allium had grown assets to over £400 million in four years.
‘Allium Capital was an excellent investment for Osprey Capital and has shown significant growth in the past four years,’ he said. ‘It is pleasing to see such a strong and substantial return for shareholders following this, our first sale.’