European Capital Invests Euro 22.5 Million in Alma Consulting Group
01 3월 2006 - 2:28AM
PR Newswire (US)
PARIS, Feb. 28 /PRNewswire-FirstCall/ -- European Capital, S.A.
SICAR announced today it has invested euro 22.5 million in the
mezzanine facility of Alma Consulting Group ("Alma"), the leading
French provider of tax recovery and cost reduction services for
companies. European Capital's investment represents 50% of the
mezzanine facility arranged by Royal Bank of Scotland, supporting
Apax Partners' acquisition of Alma. European Capital will be Agent
of the mezzanine facility and will have a Board observer seat. Alma
management and employees retain significant equity investments.
"European Capital is investing in the undisputed leader in a
dynamic market," said Ira Wagner, President of European Capital
Financial Services Limited ("European Capital Services"), the
sub-investment manager of European Capital. "In addition, we are
very pleased to be working with Apax Partners, one of the world's
leading private equity firms, and Royal Bank of Scotland, one of
the leading leveraged loan arrangers in Europe and the world."
European Capital has invested approximately euro 300 million ($356
million) in 14 companies since its formation in August of 2005. For
more information about European Capital, go to
http://www.europeancapital.com/. "Alma has developed a low cost,
standardized approach to achieving cost savings for its clients,"
said European Capital Managing Director Jean Eichenlaub. "It has a
widely diversified, loyal client base and operates in one of the
fastest growing segments of overall consulting services. Its strong
sales growth, high margins and extraordinarily high rate of
contract renewals make it a very attractive investment." "We are
supporting a strong, experienced and well incentivized management
team that has driven Alma's growth and remarkable success," said
European Capital Vice President Stephane Legrand. Alma generates
clearly identified, measurable and secured savings for its
customers with respect to social charges, tax-related costs and
G&A costs, as well as obtaining Research and Development tax
credits or subsidies. The Company is paid on the basis of an agreed
percentage of the savings achieved or subsidies obtained. Operating
from its two main offices in Paris and Lyon, Alma has a customer
base of 9,000 companies, including 60% of the top 200 largest
French companies. The Company has 585 employees, operates in
France, Belgium, Spain, Poland and Israel, and has seen annualized
sales growth above 20% over the past 10 years. "We are pleased to
work with European Capital and value our relationship with them,"
said Apax Partners Director Simon Marc. "They bring a rare
combination of depth and speed to a transaction." "European Capital
immediately understood the investment thesis and acted quickly to
complete the transaction," said Royal Bank of Scotland Managing
Director Howard Sharp. "We are impressed with their flexibility and
hard work." ABOUT EUROPEAN CAPITAL European Capital is a buyout and
mezzanine fund with capital resources of euro 750 million. European
Capital invests in and sponsors management and employee buyouts,
invests in private equity buyouts and provides capital directly to
private and mid-sized public companies. European Capital invests
from euro 5 million to euro 125 million per transaction in equity,
mezzanine debt and senior debt to fund growth, acquisitions and
recapitalizations. Companies interested in learning more about
European Capital's flexible financing should contact Jean
Eichenlaub at + 33 (0)1 40 68 06 66 in Paris, or Nathalie Faure
Beaulieu or Simon Henderson at + 44 (0)207 539 7000 in London, or
visit our website at http://www.europeancapital.com/. ABOUT
AMERICAN CAPITAL American Capital Strategies Ltd. (NASDAQ:ACAS) is
a publicly traded buyout and mezzanine fund with capital resources
of approximately $7 billion. American Capital invests in and
sponsors management and employee buyouts, invests in private equity
buyouts, provides capital directly to early stage and mature
private and small public companies and through its asset management
business is a manager of debt and equity investments in private
companies and commercial loan obligations. American Capital
provides senior debt, mezzanine debt and equity to fund growth,
acquisitions, recapitalizations and securitizations. American
Capital invests up to $300 million per transaction. About Apax
Partners Apax Partners is one of the world's leading private equity
investment groups, operating across Europe, Israel and the United
States. Apax Partners has raised or advised approximately $20
billion around the world. With over 30 years of direct investing
experience, Apax Partners' Funds provide long- term equity
financing to entrepreneurs. Apax invests in late venture, growth
capital and buyouts. Apax Partners' Funds invest in companies
across its global sectors of Tech & Telecoms, Retail &
Consumer, Media, Healthcare and Financial and Business Services.
Other Apax investments include Travelex, the world's largest
foreign exchange specialist; SULO Group, one of Germany's largest
waste management companies; and UK consumer finance group Picture
Financial. This press release contains forward-looking statements.
The statements regarding expected results of American Capital
Strategies are subject to various factors and uncertainties,
including the uncertainties associated with the timing of
transaction closings, changes in interest rates, availability of
transactions, changes in regional, national or international
economic conditions, or changes in the conditions of the industries
in which American Capital has made investments. First Call Analyst:
FCMN Contact: Agnieszka.Opalka@AmericanCapital.com DATASOURCE:
European Capital CONTACT: Jean Eichenlaub, Managing Director, + 33
(0)1 40 68 06 66, Stephane Legrand, Vice President, + 33 (0)1 40 68
06 66, or Brian Maney, Director, Corporate Communications,
+1-301-951-6122, all of European Capital Web site:
http://www.europeancapital.com/ http://www.americancapital.com/
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