ST. PETER PORT, Guernsey, May 15 /PRNewswire-FirstCall/ -- European
Capital Limited (LSE: ECAS) ("European Capital"), announced today that it
has invested $57 million in the Qioptiq Group, a leading designer,
developer and manufacturer of high-precision optical solutions for the
defence, medical and industrial markets. The investment was led by the
Paris office of European Capital Financial Services Limited ("European
Capital Services") and supports Candover's recapitalisation of Qioptiq.
European Capital invested mezzanine debt in Qioptiq, which was arranged and
underwritten by The Royal Bank of Scotland and Unicredit. In addition to
the $57 million investment by European Capital, its affiliate American
Capital Strategies, Ltd. (Nasdaq: ACAS) ("American Capital") invested $28
million in the transaction.
"European Capital successfully teamed up with American Capital to
provide this dollar denominated investment," said Ira Wagner, President of
European Capital Services. "The ability to fund in Euros, Pounds Sterling
and Dollars is another one of European Capital's many competitive
advantages."
"We are excited to partner with Candover, a leading private equity fund
in Europe," said Jean Eichenlaub, Regional Managing Director Southern
Europe of European Capital Services. "Qioptiq is recognised as a worldwide
technology and quality leader in the high-precision optics market. Its
exceptional management team has demonstrated its ability to achieve
outstanding growth, both organically and through strategic acquisitions."
European Capital has invested over euro 1.6 billion ($2.5 billion) in
the last twelve months, euro 301 million ($466 million) year to date and
euro 133 million ($205 million) quarter to date. European Capital has
assisted in the refinance or syndication of euro 296 million ($462 million)
of senior debt for its portfolio companies in the last twelve months, euro
604 million ($943 million) inception to date and raised over euro 520
million ($802 million) in capital and realised euro 115 million ($177
million) from investments. For more information about European Capital's
portfolio, go to http://www.EuropeanCapital.com/our_portfolio/portfolio.html
"Qioptiq enjoys a superlative reputation for quality and extremely
strong customer loyalty in a sector with very high barriers to entry," said
Tristan Parisot, Director, European Capital Services. "Qioptiq is poised
for sustained and accelerated growth driven by the continual need for
higher-precision optical solutions in the defence, biomedical and
industrial instrumentation markets and by the identification of promising
acquisition opportunities."
"Qioptiq's strong research and development capabilities, its highly
qualified and loyal staff and its state of the art production facilities
enable it to respond quickly and efficiently to the unique needs of its
customers around the world," said Guillaume Peroz, Manager, European
Capital Services. "Qioptiq has successfully established commanding market
positions and commercial presences in Europe, the U.S. and Asia."
Founded in 2005 as a spin-off of the high-tech optics division of
Thales, Qioptiq is a world leading developer of high precision optical
systems. Supported by Candover, Qioptiq expanded its geographical reach and
product offering through the acquisition of Linos in 2006, a leading German
manufacturer of high precision optics for the European medical and
industrial markets, and of Pointsource in 2008, a leading UK-based producer
of fiber optic laser solutions used in biomedical and commercial
applications. The Company has operations in Europe, Asia and the U.S. and
employs over 2,400 people worldwide. Qioptiq's products are used in a broad
array of industries including defence, biomedical and industrial solutions.
The Company achieved 2007 revenues in excess of $350 million, proforma of
the acquisition of Pointsource, completed in 2008.
"We highly value European Capital's strong commitment to Qioptiq and
its confidence in our vision and strategy for the Company," said Benoit
Bazire, CEO, Qioptiq. "We look forward to working together on the future
development of Qioptiq with Candover and European Capital."
"European Capital has proven itself a dependable and speedy partner,"
said Cyril Zaire, Director, Candover. "We hope to strengthen our
relationship with the dedicated team at European Capital as we work
together to grow Qioptiq and in support of future opportunities."
ABOUT EUROPEAN CAPITAL
European Capital is a publicly traded investment company for
pan-European equity, mezzanine and senior debt investments with current
capital resources of approximately euro 2.8 billion ($4.4 billion). It is
managed by European Capital Financial Services (Guernsey) Limited
("ECFSG"), an indirect wholly-owned affiliate of American Capital
Strategies Ltd. ECFSG, together with its wholly owned subsidiary European
Capital Financial Services Ltd ("ECFS"), is referred to as the "Investment
Manager". ECFS has offices in Paris, London, Frankfurt and Madrid. As of 31
March 2008 the Investment Manager had 44 investment professionals and 66
support staff.
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 primarily 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 recapitalisations.
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 debt and equity financing 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 and senior 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 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 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) is the only private
equity fund and alternative asset management company that is a member of
the S&P 500. With $19 billion in capital resources under management,
American Capital is the largest U.S. publicly traded alternative asset
manager.
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, recapitalisations and securitisations. 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.
ABOUT CANDOVER
Candover is a leading private equity investment group in Europe. Since
1980, Candover has invested in 135 buyouts totaling euro 42 billion. With
offices in London, Madrid, Milan and Paris, Candover has invested in eleven
European countries. Over the last two years, European Capital's London
office supported Candover's acquisitions of Ferretti, Capital Safety and
Hilding Anders.
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.americancapital.com
http://www.EuropeanCapital.com
CONTACT:
Jean Eichenlaub, Regional Managing Director
Southern Europe, or Tristan Parisot, Director, or Guillaume
Peroz, Manager, +33-(0)1-40-68-06-66, or Marie Bal,
Communications Manager, +33-(0)1-40-68-68-66, all of European
Capital Limited
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