Advent completes DFS exit with £58m share sale

Private equity house Advent has completed its exit from DFS Furniture with a £58.5m share sale.

It has sold its last 12.1% in the business following the placing of 25,661,359 ordinary shares in the company to institutional investors at a price of £2.28 per share.

Advent has undertaken three share sales and with the most recent sale, it has made around £214.6m from the staggered disposal of its DFS shares.

Advent made its first major share sale in October 2015, selling £94.4m worth of shares in the Doncaster-based business.

This was followed by another two, £90m worth in April 2016 and £61.7m in November 2016.

This latest sale share marks the final exit for Advent,which bought the business from founder Lord Kirkham 2010 for around £500m.