ST. PETER PORT, Guernsey,
Oct. 31, 2013 /PRNewswire/ --
European Capital Limited and its consolidated subsidiaries
("European Capital") and American Capital announced today that they
have received proceeds of US$ 118.5
million from exiting their investments in Qioptiq ("the
Company").
Qioptiq was formed in 2005 when it was acquired from Thales by
Candover Partners. In 2008, European Capital and American Capital
participated in the refinancing of the transaction providing a
US$ 84 million mezzanine loan. The
purpose of the refinancing was to finance the repayment of
Qioptiq's existing debt and the acquisition of Pointsource and of
Linos' minority shares. The Company has been managed by Arle
Capital Partners since 2010. For more information on European
Capital and American Capital's investment in Qioptiq, please visit:
http://www.europeancapital.com/en/our-portfolio/qioptiq-group.
Since its inception, Qioptiq has developed into a strong global
specialist in the photonics industry serving the commercial,
defense and aerospace markets. Qioptiq designs and manufactures
photonic products and solutions that serve a wide range of markets
and applications in the areas of medical and life sciences,
industrial manufacturing, defense and aerospace, and research and
development. Qioptiq has a worldwide presence, operating from ten
locations in Germany, the UK,
Singapore, the US and Hungary and employs over 1,900 people. In
2012, the Company generated revenues of approximately US$346 million.
European Capital and American Capital's exit comes as Qioptiq's
majority shareholder, Arle Capital Partners, has sold 100% of its
shares of the Company to Excelitas Technologies. The exit, which
occurred on 31st October
2013, allowed European Capital and American Capital to
realize a 1.7x money multiple on their initial investment,
representing a 11.7% IRR.
"As a long term partner of Qioptiq, European Capital and
American Capital are pleased to have accompanied the Company's
successful development over the last five years. Qioptiq fits with
our strategy to back global players with leading positions in niche
markets and technological edge," stated Tristan Parisot, Managing Director at European
Capital Financial Services Limited.
Fredrik Arp, Chairman of Qioptiq,
said, "European Capital and American Capital have been supportive
partners since their involvement began through the 2008
recapitalization process. We were impressed by their ability
to quickly deliver substantial financing and appreciated their
positive contributions during our monthly board meetings showing
their strong commitment to Qioptiq's success."
ABOUT EUROPEAN CAPITAL
European Capital is an
investment company for pan-European equity, mezzanine and senior
debt investments with €1.1 billion in assets under management.
European Capital is a wholly-owned affiliate of American
Capital, Ltd ("American Capital"). It is managed by European
Capital Asset Management, wholly-owned affiliates of American
Capital. The Investment Manager has offices in London and Paris with 55 employees. Since its
inception, European Capital Limited has invested €3.5 billion in
over 100 companies in Europe.
European Capital and its affiliates will consider senior and
mezzanine debt investment opportunities from 10 million to 100
million in either euros or sterling and up to 400 million for One
Stop Buyouts®. For further information, please refer to
www.EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
American Capital (Nasdaq: ACAS)
is a publicly traded private equity firm and global asset
manager. American Capital, both directly and through its
asset management business, originates, underwrites and manages
investments in middle market private equity, leveraged finance,
real estate and structured products. American Capital manages
US$ 21 billion of assets, including
assets on its balance sheet and fee earning assets under management
by affiliated managers, with US$ 119
billion of total assets under management (including levered
assets). Through an affiliate, American Capital manages
publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with
approximately US$ 10 billion of net
book value and American Capital Mortgage Investment Corp. (Nasdaq:
MTGE) with approximately US$ 1
billion of net book value. From its eight offices in
the U.S. and Europe, American
Capital and its affiliate, European Capital, will consider
investment opportunities from US$ 10 million
to US$ 750 million. For further information, please
refer to www.AmericanCapital.com.
Contact: European Capital Financial Services
Limited + 33 1 40 68 06 66
Tristan Parisot, Managing Director – Head of
France
SOURCE European Capital Limited