Private equity specialist, Electra Partners Europe, has made its first investment for its Electra European Fund.
The fund has acquired a further 44% stake in Safety-Kleen Europe for £23.7m (€38.5m) - a deal that values the cleaning business at more than £100m. When Safety-Kleen Europe conducted a management buy out from its US parent, Safety-Kleen Corporation, in 1998, Electra bought an initial 44% stake.