European Capital's Sponsor Finance Group Invests Euro 97 Million in Three Portfolio Companies
18 4월 2008 - 6:00PM
PR Newswire (US)
ST. PETER PORT, Guernsey, April 18 /PRNewswire-FirstCall/ -- ECAS
S.a.r.l, an indirect wholly-owned subsidiary of European Capital
Limited (LSE:ECAS) ("European Capital"), announced today
investments totaling euro 97 million in three companies made in the
first quarter of 2008. The investments were led by the London
office of European Capital Financial Services Limited ("European
Capital Services"), the sub-investment manager of European Capital.
In the first quarter of 2008, European Capital invested a total of
euro 140 million in six companies, compared to euro 267 million
invested in ten companies in the first quarter of 2007. European
Capital raised over euro 520 million in capital in the first
quarter of 2008, compared to euro 47 million raised in the first
quarter of 2007 and euro 518 million in all of 2007. In addition,
European Capital realized euro 115 million from investments in the
first quarter of 2008, compared to euro 163 million in the first
quarter of 2007 and euro 707 million in all of 2007; a portion of
these funds are available for reinvestment. "The first quarter of
2008 continued to present attractive investment opportunities for
European Capital in the mezzanine market," said Nathalie Faure
Beaulieu, Regional Managing Director, European Capital Services.
"European Capital's growing reputation over the last few years, our
international presence and ability to provide one-stop financing of
mezzanine debt and equity in support of private equity buyouts
gives us a competitive advantage relative to other financing
sources. Our London office was able to capitalize on these
opportunities and added three market leading companies to our
diversified portfolio, which now totals 67 companies." In January,
European Capital invested euro 18 million in 3i's portfolio company
Bestinvest, a leading independent financial advisor (IFA). European
Capital's investment takes the form of senior subordinated debt,
shareholder loans and common equity. "Rising levels of personal
wealth over the long term and an increased emphasis on savings are
driving the need for high quality financial advisors," said Matthew
Gordon Clark, European Capital Director, London Sponsor Finance
Group. "As one of the few independent market players of scale that
provides a fully fledged advisory service to 'mass affluent'
customers, Bestinvest is a leader in this niche market.
Additionally, the company's strong management team and unique
offerings support its record of retaining customers." Bestinvest
was founded in 1986 and originally focused on tax benefit analysis
for top rate taxpayers. During the 1990s, the range of services was
expanded to cover most types of investments for UK residents, as
well as financial planning. Following its November 2004 acquisition
of SMA Group, a leading independent pensions and financial adviser,
the range of services provided has extended to include employee
benefits consultancy and general insurance broking. Bestinvest
clients now have investable assets in excess of 2 billion pounds
Sterling. In February, European Capital invested euro 47.1 million
in Inspicio plc, a provider of testing, inspection and
certification services in the Commodities, Environmental and Food
Safety markets. European Capital's investment takes the form of
senior subordinated debt and supports 3i's acquisition of Inspicio.
"Inspicio's business groups occupy leading positions in high growth
markets," said Jerry Tebbutt, European Capital Services Director,
London Sponsor Finance Group. "One of Inspicio's greatest assets is
its outstanding reputation, fostered by an experienced and
dedicated management team. The management team has delivered
impressive results and outperformed market forecasts and has proven
to be capable of executing and integrating acquisitions and
delivering significant cost savings." Inspicio acquires and manages
market leading organizations in the testing, inspection and
performance conformity markets, both in the UK and internationally.
Inspicio has more than 6,500 employees and operates in over 125
countries. Its operating businesses include Inspectorate, a global
leader in commodity testing and inspection services; the
Environmental Services Group, a leading provider of environmental
testing services; and the Eclipse Scientific Group, the UK's
leading food testing business. In March, European Capital invested
euro 31.6 million supporting 3i's acquisition of the Active
Pharmaceutical Ingredients (API) division of Alpharma Inc.
(NYSE:ALO). European Capital's investment takes the form of senior
subordinated debt. "API holds leading positions in all of its
product markets," said Matthew Gordon Clark. "The company operates
in a niche market and we are pleased to be backing 3i and a strong
management team to enhance API's current product offerings and
develop new products to address further niche areas with strong and
profitable growth." API is based in Oslo, Norway and is a leading
company in the fast-growing injectable generics market. Its
comprehensive product portfolio includes active ingredients and
finished dosage forms in a number of important antibiotic products
such as Vancomycin, Bacitracin and Polymyxin. API has approximately
700 employees and has manufacturing facilities in Oslo, Copenhagen,
Budapest and Taizhou, China. European Capital has invested over
euro 1.4 billion in the last twelve months. European Capital has
assisted in the refinance of euro 297.3 million of senior debt for
its portfolio companies in the last twelve months. For more
information about European Capital's portfolio, go to
http://www.europeancapital.com/our_portfolio/portfolio.html ABOUT
EUROPEAN CAPITAL European Capital is a publicly traded investment
company for pan-European equity, mezzanine and senior debt
investments with capital resources of approximately euro 2.8
billion ($4.4 billion). It is managed by European Capital Financial
Services (Guernsey) Limited ("ECFSG" or "the Investment Manager"),
a wholly-owned affiliate of American Capital Strategies, Ltd
("American Capital"). 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 euro 5 million and euro 500 million per transaction
in equity, mezzanine debt and senior debt to fund growth,
acquisitions and recapitalizations. The investment objective of
European Capital is to provide investors with dividend income and
the potential for share value appreciation by investing in debt and
equity investments in private and public companies headquartered
primarily in Europe. European Capital seeks to achieve this through
pursuing the following types of investments: European Capital One
Stop Buyouts(TM) Through our One Stop Buyouts(TM), European Capital
provides equity, mezzanine debt and senior debt as the lead
investor in the buyout of private and public companies. Mezzanine
Direct with Sponsors European Capital provides one stop financing
of subordinated debt and equity for buyouts sponsored by private
equity firms where European Capital is either the sole or lead
mezzanine debt investor. Syndicated Mezzanine and Senior Debt
European Capital provides mezzanine financing for buyouts sponsored
by private equity firms where European Capital is neither the sole
nor lead mezzanine or senior debt investor. Direct Investments
European Capital provides subordinated debt and equity financing
directly to private and public companies, which is used for growth,
acquisitions or recapitalisations, and investing in structured
finance vehicles. Companies interested in learning more about
European Capital's flexible financing should contact Nathalie Faure
Beaulieu or Simon Henderson at + 44 (0)20 7539 7000 in London, Jean
Eichenlaub at + 33 (0)1 40 68 06 66 in Paris, Robert von
Finckenstein at +49 (0) 69 71 71 297-0 in Frankfurt, or Luis Felipe
Castellanos at +(34) 91 423 27 60 in Madrid, or visit the website
at http://www.europeancapital.com/. ABOUT AMERICAN CAPITAL American
Capital Strategies Ltd. (NASDAQ:ACAS), with $19 billion in capital
resources under management, is an affiliate of European Capital and
a member of the S&P 500. It is the largest U.S. publicly traded
private equity fund and 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 euro 5 million to euro 500 million
per company in Europe. 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:
Matthew Gordon Clark, Director, or Jerry Tebbutt, Director, London
Sponsor Finance Group, +44 (0)20 7539 7000, both of European
Capital Limited; or Brian Maney, Corporate Communications of
American Capital Strategies Ltd., +1-301-951-6122 Web site:
http://www.europeancapital.com/ http://www.americancapital.com/
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