Legal & General Ventures (LGV) has sold its stake in Young's Bluecrest, the UK frozen fish company that has just completed a £137m (€221m) secondary management buy-out, for £42m, almost trebling the value of the capital it has put into the company.
Adrian Johnson, chief executive of LGV, the private equity arm of the UK insurer, said: "It was a good deal for us. We put a lot into developing the business during our ownership and made just under three times our money. We think it's time for someone else to take the company forward."
