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Graphite reaps return from oil and gas boom

UK buyout firm has made a 2.3-times return on an oilfield services company, following one of the best periods for private equity investment in oil and gas deals in recent years

Graphite Capital has sold Aberdeen-based Dominion Gas to US-listed natural gases group Praxair, according to a statement from the buyout firm, its second divestment in the sector in six months.

The UK buyout firm bought Dominion, which supplies gases, cylinders and chemicals to customers in more than 20 countries, in 2007. That year, the company also bought cylinder gas business Global Gas Supplies, and bolted on tank containers provider Argon Isotank in 2008, according to the statement.

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