Time Out IPO and German dating website sale boost Peter Dubens' Oakley Capital

 
William Turvill
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Time Out floated on the Alternative Investment Market (Aim) last June (Source: Time Out)

Private equity and venture capital firm Oakley Capital has reported a shareholder return of 17 per cent for 2016, boosted by its flotation of Time Out.

The figures

The firm, which is led by entrepreneur Peter Dubens, reported a net asset value (NAV) per share of £2.31, up 16 per cent on the end of 2015.

While the firm reported a shareholder return of 17 per cent for the year, it also announced a maiden dividend of 4.5 pence.

The company’s shares were flat at 152p today, but are up 14 per cent in the last year.

Read more: It's a date: Time Out owner sells majority stake in online dating service

Why it’s interesting

Oakley said it had raised net proceeds of £59m from the Time Out initial public offering (IPO) last June.

During the year, Oakley also obtained proceeds of €43.3m (£38.9m) from a partial sale of German online dating service Parship Elite.

Oakley also agreed to sell Host Europe Group to GoDaddy and, after the deal completed this week, expects to collect proceeds of €14.6m.

On the acquisitions side, Oakley bought a portfolio of online property portals, including for Luxembourg and Italy.

Read more: Revenues jump at "happiness business" Time Out, but shares dip

What the company said

Managing partner Dubens said:

2016 marked another year of strong progress for Oakley Capital and its portfolio companies, with a 16 per cent increase in NAV per share. We were pleased to announce our maiden dividend in 2016, taking advantage of the cash flow from our direct debt investments…

The combination of Oakley’s increasing reputation for being a creative and supportive partner for mid-market businesses and the addition of new senior talent has resulted in a strong pipeline of prospects, which we look forward to progressing in the period ahead.

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