St. Peter Port, Guernsey (ots/PRNewswire) -
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
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,
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 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 (US$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
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.
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
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
ABOUT AMERICAN CAPITAL
American Capital Strategies Ltd. (Nasdaq: ACAS), with US$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 US$5 million to US$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.
Web site: http://www.EuropeanCapital.com
ots Originaltext: European Capital
Im Internet recherchierbar: http://www.presseportal.ch
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