Allen & Overy has secured an instruction from London-based private equity house Candover Investments, on the £114m sale
of its diamond-tools maker Diamant Boart to Stockholm-based Electrolux.
The deal was run out of the firm’s Brussels office by corporate partner Peter Bienestock. Diamond Boart is the fifth exit for the Candover 1997 fund. In the past two months alone the 1997 fund has sold pipeline integrity services company PII Group to GE Power systems, followed swiftly by the sale of Regional Independent Media to Johnston Press. Cleary Gottlieb Steen & Hamilton advised Electrolux.
