PARIS, June 5 /PRNewswire-FirstCall/ -- European Capital S.A. SICAR, a
wholly-owned subsidiary of European Capital Limited (LSE: ECAS), announced
today that it has invested euro 55 million ($73 million) in Go Voyages, a
leading online travel agent in France. European Capital's investment
supports the acquisition of Go Voyages by Financiere Agache Private Equity
and takes the form of senior and junior mezzanine bonds and preferred and
common equity. Go Voyages management is also investing in Go Voyages'
equity.
"We are delighted to be supporting the buyout of Go Voyages, a leading
French online travel agent, by our new private equity partner Financiere
Agache Private Equity," said Ira Wagner, President of European Capital
Financial Services Limited ("European Capital Services"), the
sub-investment manager of European Capital, and Chief Operating Officer of
American Capital Strategies Ltd. "Our reputation as an outstanding partner
for private equity firms and our deep financial capabilities are producing
an expanding group of such rewarding relationships. Our Paris office has
now invested in 17 transactions led by 12 different private equity firms in
France."
"Go Voyages, one of the largest French online travel agents, and the
largest French online seller of scheduled flight tickets, is ideally
positioned to capture an ever greater share of the rapidly growing online
tourism market," said Jean Eichenlaub, European Capital Managing Director.
"Go Voyages is the only online travel agent with connections to all major
global distribution systems, enabling it to pass on the best available
prices and anchoring its unique primary market focus on supplying good
value airline tickets only."
"Go Voyages is the only online travel agent providing both scheduled
and chartered flights and serves the most diverse customer base. Go Voyages
captures growth in all channels, including directly to customers and
through more than 1,000 online partners, tour operators and other travel
agents," said Stephane Legrand, European Capital Director. "Leveraging its
exceptional brand recognition and powerful search engine, Go Voyages
anticipates building on its already robust growth through a new emphasis on
the more profitable marketing of hotel reservations, rental cars and
dynamic packages."
Founded in 1997, Go Voyages markets scheduled airline tickets, charter
flights, car rentals, hotel accommodations and packages. Its primary focus
is on low-cost scheduled flights. Go Voyages' major customers are those
accessed through http://www.govoyages.com and web partners, including
co-branded travel websites. The Company also markets to travel agents and
tour operators. Go Voyages is headquartered in Paris where it has three
office locations. The Company has nearly 300 employees.
"Partnering together for the first time with European Capital, we have
been very impressed with its quick response and the depth of its analyses.
Its ability to fund across the capital structure proved invaluable for this
transaction," said Jean-Marc Espalioux, Financiere Agache Private Equity
CEO. "We look forward to working with European Capital and Go Voyages'
highly experienced management team to build on the Company's leading
position in the online tourist market."
For more information about European Capital's portfolio, go to
http://www.ecas.com/our_portfolio/portfolio.html.
ABOUT EUROPEAN CAPITAL
European Capital is a closed-end investment company for pan-European
equity, mezzanine and senior debt investments with capital resources of
approximately euro 2.1 billion ($2.9 billion). 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.
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,
or Nathalie Faure Beaulieu or Simon Henderson at + 44 (0)20 7539 7000 in
London, or Robert von Finckenstein at +49 (0)69 7171 2970 in Frankfurt or
visit the website at http://www.EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
American Capital is the second largest U.S. publicly traded alternative
asset manager with approximately $11 billion in assets under management
(second to Fortress). 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.
ABOUT FINANCIERE AGACHE
As part of Groupe Arnault, Financiere Agache Private Equity conducts
private equity investments in mid-cap firms. Aiming at achieving several
deals per year for an enterprise value from euro 50 million to euro 500
million, Financiere Agache Private Equity targets also co-investment in
larger buy-outs. Financiere Agache Private Equity is managed by Jean-Marc
Espalioux.
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.
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SOURCE European Capital S.A. SICAR
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Related links:
http://www.americancapital.com
http://www.EuropeanCapital.com http://www.govoyages.com
CONTACT:
Jean Eichenlaub, Managing Director,
+33-0-1-40-68-06-66, or Stephane Legrand, Director,
+33-0-1-40-68-06-66, both of European Capital; or Brian Maney,
Director, Corporate Communications, for European Capital,
+1-301-951-6122
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