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.
SOURCE European Capital Limited
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Related links:
http://www.EuropeanCapital.com
http://www.americancapital.com/
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
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