- Caledonia Investments said Friday it had acquired a majority stake in Cooke Optics Group in a transaction which valued the business at £96.5m.

Under the terms of the deal, Caledonia subscribed £62.5m of equity and £30.0m of debt to acquire approximately 89% of Cooke from its current owners, Growth Capital Partners and Cooke's management team.

Cooke's management team have reinvested £7.8m of their sales proceeds for the remaining equity, Caledonia Investments said.

In its most recent audited consolidated accounts for the financial year to 30 June 2017, Cooke reported earnings (EBITDA) of £7.7m and profit before tax of £2.8m.

'Its profitability and high cash generation, combined with its strong competitive position in the film making industry globally, makes it ideally suited to Caledonia's unquoted portfolio,' said Duncan Johnson, Caledonia's Head of Unquoted Investments.

At 8:40am: [LON:CLDN] Caledonia Investments Plc share price was +7.5p at 2792.5p

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