Strategic report / Portfolio activity in 2024
Investments, realisations and refinancings
This section summarises movements on our investments throughout 2024, including new investments and realisations. Amounts shown are on an OCI look-through basis (as explained in the Glossary).
Portfolio activity / New investments in 2024
Material new investments for the year are included below.
Steer Automotive
£73m
In April, Oakley Fund V completed the acquisition of Steer Automotive Group, the UK's leading B2B automotive services platform. A portion of Fund V’s investment was subsequently syndicated to an Oakley co-investment, and a bolt-on was acquired in July. The overall impact of these activities resulted in an increase in OCI’s investment holding by £7 million since the acquisition date.
ProductLife Group
£40m
In May, Oakley Fund V acquired ProductLife Group, a European provider of outsourced regulatory and compliance services to the global life sciences industry.
I-TRACING
£36m
In November, Oakley Fund V completed the acquisition of I-TRACING, a leading independent provider of cybersecurity services in France.
Assured Data Protection
£27m
In October, Oakley Fund V acquired Assured Data Protection, a Managed Services Provider focused on backup, disaster recovery and cyber resiliency.
vitroconnect
£16m
In July, Oakley Origin II invested in vitroconnect, a leading broadband open access platform business in Germany. In August, Oakley Origin II syndicated a portion of their investment to an Oakley co-investment.
Affinitas
£16m
Between February and November, Oakley Fund IV’s portfolio company, Affinitas, continued its investment in the education sector, completing four new bolt-on acquisitions.
Konzept & Marketing
£13m
In December, Oakley Fund V completed the acquisition of Konzept & Marketing, an independent Managing General Agent in the German personal, non-life insurance market. This is a smaller acquisition for Fund V, as it is intended to be part of a larger roll-up strategy.
Portfolio activity / Realisations 2024
idealista
£68m
In December, Oakley Fund IV exited its stake in idealista, southern Europe’s leading online real estate classifieds platform, realising a gross Money Multiple of 2.1x.
Ocean Technologies Group
£49m
In November, Oakley Fund IV exited its stake in Ocean Technologies Group, a leading independent software provider to the maritime industry, realising a gross Money Multiple of 2.7x.
Schülerhilfe
£42m
In December, Oakley Fund III exited its stake in Schülerhilfe, the leading provider of professional tutoring services to primary and secondary school students across Germany, Austria and Switzerland, realising a gross Money Multiple of 2.2x.
Portfolio activity / Refinancings 2024
Wishcard
In June, Wishcard Technologies Group, a leading German consumer technology company, repaid its loan to Oakley Fund IV following a successful year of growth.
Globe-Trotter
In May, Globe-Trotter repaid its short-term loan to Oakley Capital Fund III following the receipt of additional external investment.
Schülerhilfe
In October, Schülerhilfe made a distribution to Oakley Fund III following its refinancing, which was supported by strong growth and cash generation.
Total refinancings
£20m
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