US buyout firm Carlyle has sold its entire holding in QinetiQ for £139m (€210m), making over seven times its original investment, and has given up its seat on the board almost a year after completing the UK defence company's flotation.
The sale means Carlyle has made back just over seven times its original investment in under four years. Carlyle bought a 31% stake in QinetiQ in 2003 for £42m, but today's sale takes its total proceeds from share sales to £300m.
