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Lyceum sells energy group to trade buyer

The number of portfolio companies sold by buyout firms to strategic trade buyers is on the rise, as 'pass the parcel' secondary deals fall in popularity

UK mid-market firm Lyceum Capital has sold portfolio company M&C Energy group to a French trade buyer, as “pass the parcel” secondary deals - exits to other buyout firms - are surpassed by trade exits.

Trade buyer Schneider Electric, a French-headquartered energy management firm, is finalising an agreement to buy Dunfermline-headquartered M&C for around £90m, according to a source close to the situation.

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