European Capital Invests 22 Million Euro in Global Design Technologies
01 10월 2007 - 5:15PM
PR Newswire (US)
ST. PETER PORT, Guernsey, Oct. 1 /PRNewswire-FirstCall/ -- ECAS
S.a.r.l, an indirect wholly-owned subsidiary of European Capital
Limited (LSE:ECAS) ("European Capital") announced today that it has
invested 22 million euro in Global Design Technologies ("GDT"), the
leading world provider of swaged permanent fittings for the
aerospace industry. The investment was led by the Paris office of
European Capital Financial Services Limited ("European Capital
Services"), the sub-investment manager of European Capital.
European Capital's investment supports the buyout of GDT by
Bridgepoint Capital SAS ("Bridgepoint") and takes the form of the
purchase of a second lien facility. "We are delighted to be
investing in Bridgepoint's buyout of GDT, a world leading supplier
of aerospace components," said Jean Eichenlaub, Managing Director
of European Capital Services Paris branch. "This is the first time
that European Capital Services' Paris office has worked with
Bridgepoint, a pre-eminent European private equity sponsor. We look
forward to a long and mutually rewarding partnership." "GDT is the
market leading supplier of swaged permanent fittings for the
aerospace industry, an attractive market secured by strong
intellectual property protections, extensive certification
requirements, and sole sourcing preferences," said Jacques
Pancrazi, European Capital Services Paris branch Director. "At the
same time, GDT has responded to the cyclicality of the aerospace
industry by successfully diversifying into the US power market."
"The Company has longstanding relationships with its major
customers resulting from its consistent high quality and customer
satisfaction," said Alexandre Bruyelle, European Capital Services
Paris branch Manager. "Anticipated synergies between the French and
U.S. entities such as consolidation of purchasing, capacity sharing
and lean manufacturing, are likely to improve already excellent
margins while selective acquisition opportunities promise to
further increase value." Founded in 2005 when Deutsch Metal
Components of the US and Permaswage of France were combined, GDT is
the world's leading manufacturer of swaged permanent fitting
systems for rigid tubing and pipes used on aircraft for the
transport of hydraulic fluids, fuel, oxygen and pneumatic air. GDT
designs, manufactures and sells swaged permanent fittings, the
tooling required to install the fittings and other related
products. The Company also sells permanent fittings and tooling to
US utilities for distribution bars, cabling and grounding
applications in power sub-stations. GDT sells directly and through
distributors. Its major customers include Airbus, the US
Government, Lockheed Martin and Boeing as well as four out of the
top five U.S. utility companies. Headquartered in Paris, France,
the Company has manufacturing facilities in Gardena, CA, and Les
Clayes-sous-Bois, France. It has more than 600 employees. ABOUT
EUROPEAN CAPITAL European Capital is a publicly traded company for
pan-European equity, mezzanine and senior debt investments with
capital resources of approximately 2.3 billion euro ($3.2 billion).
European Capital invests in and sponsors management and employee
buyouts, invests in private equity buyouts and provides capital
directly to private and public companies headquartered
predominantly in Europe. European Capital generally invests between
10 million euro and 500 million euro per transaction in equity,
mezzanine debt and senior debt to fund growth, acquisitions and
recapitalizations. European Capital has invested over 1.7 billion
euro ($2.4 billion) in the last twelve months, 1.4 billion euro
($1.9 billion) year to date and 425 million euro ($601 million)
quarter to date. For more information about European Capital's
portfolio, go to http://www.ecas.com/our_portfolio/portfolio.html .
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, Nathalie Faure Beaulieu or Simon Henderson at +
44 (0)20 7539 7000 in London, Robert von Finckenstein at +49 (0)69
7171 2970 in Frankfurt, or Luis Felipe Castellanos at +34 91 745 99
63 in Madrid, or visit the website at
http://www.europeancapital.com/ . ABOUT AMERICAN CAPITAL American
Capital Strategies Ltd. (NASDAQ:ACAS) is an affiliate of European
Capital and the only alternative asset management company that is a
member of the S&P 500. With $16 billion in assets under
management(1), including in externally managed funds, American
Capital is the largest U.S. publicly traded private equity fund and
one of the largest publicly traded alternative asset managers.
American Capital, both directly and through its global asset
management business, is an investor in management and employee
buyouts, private equity buyouts, and early stage and mature private
and public companies. American Capital provides senior debt,
mezzanine debt and equity to fund growth, acquisitions,
recapitalizations and securitizations. American Capital and its
affiliates invest from $5 million to $800 million per company in
North America and 5 million euro to 500 million euro per company in
Europe. ABOUT BRIDGEPOINT CAPITAL Bridgepoint is a leading European
private equity manager with a 25-year track record of investing in
European companies valued up to 1 billion euro through a network of
offices in the UK, France, Germany, Italy, the Nordic region,
Poland and Spain. In the last ten years, Bridgepoint has completed
more than 150 transactions with a total value of 18 billion euro.
Bridgepoint's portfolio companies in France include Alain Afflelou,
a French and Spanish optical retailer; Groupe Moniteur, the leading
French provider of services and information to the construction,
public works and architectural industries; and Moliflor, a casino
operator. (1) Assets Under Management is an estimate of internally
and externally managed assets as of August 31, 2007 and does not
include any fair value adjustments subsequent to June 30, 2007.
This press release contains forward-looking statements. The
statements regarding expected results of European Capital and/or
American Capital 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 European Capital and/or American Capital has made
investments. DATASOURCE: European Capital Limited CONTACT: Jean
Eichenlaub, Managing Director, Jacques Pancrazi, Director,
Alexandre Bruyelle, Manager, or Marie Bal, Communication Manager,
all of European Capital Limited, +33 (0)1 40 68 06 66 Web site:
http://www.europeancapital.com/ http://www.americancapital.com/
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