European Capital Invests Euro 28 Million in International Electronics and Engineering
06 5월 2008 - 8:39PM
PR Newswire (US)
ST. PETER PORT, Guernsey, May 6 /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 euro 28 million in International Electronics and
Engineering S.A. ("IEE"), a leading and innovative developer of
safety-critical sensing solutions for the automotive industry. The
investment supports Apax Partners' recapitalization of IEE. ECAS
S.a.r.l invested mezzanine debt in IEE, which was arranged and
underwritten by Allied Irish Banks. "We are excited to once again
work with Apax Partners, a leading private equity firm," said Jean
Eichenlaub, Southern Europe Regional Managing Director, European
Capital Financial Services Limited ("European Capital Services").
"Apax's expertise in technology and its history with IEE make this
a promising investment. We look forward to helping IEE, the leading
player in a specialized sensing systems market, in its
development." 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.
European Capital has assisted in the refinance or syndication of
more than euro 297 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 "IEE
has a proven track record and strong customer relationships with
all major car manufacturers," said Stephane Legrand, Director,
European Capital Services. "The market for IEE's products continues
to grow as automotive safety regulations tighten across the world.
As an innovator and first-mover in its market, IEE is in an
excellent position to improve its market share in both the U.S. and
Europe." "IEE's history of developing innovative applications for
the car safety industry and growing its market share, as well as
its impressive financial record and long-term contractual
agreements with OEMs, are strong indicators of IEE's future growth
potential," said Olivia Reveilliez, Manager, European Capital
Services. "IEE's state of the art technological development centers
contribute to its specialized expertise." IEE is a world leading
innovative developer of specialized sensing systems. Founded in
1989 and headquartered in Luxembourg, the Company has operations in
Europe, the U.S. and Asia and employs over 1,200 people worldwide.
IEE is a global leader in automotive safety sensing systems for
occupant detection and classification. The Company offers solutions
for pedestrian protection and is developing sensing systems for
advanced driver assistance applications and for active safety
systems. IEE also develops smart input systems for car interiors.
Its LuSense business unit develops and markets sensing solutions
for consumer electronics such as mobile phones and MP3 players.
LuSense also develops foot pressure sensing mats for medical
applications. IEE is entering into markets such as Public and
Commercial Infrastructure, Automation and Logistics and Medical and
Healthcare with unique sensing solutions for people counting,
luggage classification, parcel detection and patient surveillance.
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. 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 recapitalizations, and investing in structured
finance vehicles. 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 at + 44 (0)20 7539 7000 in London, 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:
Stephane Legrand, Director, or Olivia Reveilliez, Manager,
+33-(0)-1-40-68-06-66, or Marie Bal, Communications Manager,
+33-(0)-1-40-68-68-66, all of European Capital Financial Services
Limited Web site: http://www.europeancapital.com/
http://www.americancapital.com/
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