European Capital Receives Proceeds Of Euro 7.2 Million From Scaff'holding Exit
ST. PETER PORT, Guernsey, April 18, 2013
ST. PETER PORT, Guernsey, April 18, 2013 /PRNewswire/ --European Capital
Limited and its affiliates ("European Capital") announced today that they
received proceeds of €7.2 million from exiting their investments in
Scaff'holding (the "Company"). European Capital realized a c. 1.8x money
multiple on its initial investment, representing a c. 13% IRR.
In April 2007, European Capital invested €7.5 million in the mezzanine
facility, along with Capzanine, to support the secondary buyout of
Scaff'holding by Equistone, formerly Barclays Private Equity. In October
2011, the Company partially repaid the mezzanine facility and European Capital
received €3.1 million.
Scaff'holding, based in Paris, France, is the French leader in the rental and
sale of scaffolding and shoring systems. Through its network of local
branches, Scaff'holding offers a comprehensive range of equipment and services
to meet all customers' needs especially in terms of safety and compliance with
regulations. The Company is active in the fields of construction, public
works, industry, entertainment and temporary structures for public events.
European Capital's exit comes as Scaff'holding and its majority shareholder,
Equistone, agreed on a tertiary buyout led by Management and supported by
minority equity investors.
"We have been very pleased to support management and Equistone over the past
six years," said Tristan Parisot, Managing Director of European Capital
Financial Services Limited ("ECFS"). "This investment illustrates our
long-term investor profile and ability to offer flexible financing solutions."
"Scaff'holding has a proven track record of resilience and cash-flow
generation," said Stephane Legrand, Managing Director of ECFS. "The Company
has also demonstrated its ability to grow internationally, notably by
expanding its presence in Brazil."
ABOUT EUROPEAN CAPITAL European Capital is an investment company for
pan-European equity, mezzanine, unitranche and senior debt investments with
€1.2 billion in assets under management. European Capital is a wholly-owned
affiliate of American Capital, Ltd. ("American Capital"). European Capital is
managed by European Capital Financial Services (Guernsey), a wholly-owned
affiliate of American Capital (the "Investment Manager"). The Investment
Manager has offices in London and Paris. As of 31 December 2012, the
Investment Manager had 5 investment teams with 22 investment professionals and
employed 27 support staff. European Capital and its affiliates will consider
senior, unitranche and mezzanine debt investment opportunities from 10 million
to 40 million and up to 400 million for One Stop Buyout®, in either in euros
or in sterling. For further information, please refer to
ABOUT AMERICAN CAPITAL American Capital, Ltd. (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 $18.6 billion of
assets, including assets on its balance sheet and fee earning assets under
management by affiliated managers, with $117 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 a $13 billion market capitalization and American Capital
Mortgage Investment Corp. (Nasdaq: MTGE) with approximately a $1.5 billion
market capitalization. From its eight offices in the U.S. and Europe, American
Capital and its affiliate, European Capital, will consider investment
opportunities from $10 million to $750 million. For further information,
please refer to www.AmericanCapital.com .
Contact : European Capital Financial Services Limited + 33 1 40 68 06
66Stephane Legrand, Managing Director
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