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EUROPEAN CAPITAL INVESTS $25
MILLION IN GROUPE UNIPEX
St. Peter Port, Guernsey – 26 June 2008 – European Capital
Limited (LSE: ECAS) ("European Capital") announced today that
its subsidiary ECAS S.à.r.l. has invested $25 million in Groupe
Unipex (formerly Atrium Innovations’ active ingredients and
specialty chemicals division), a global firm specializing in the
manufacture and distribution of active ingredients, specialty
and base chemicals for the cosmetic, pharmaceutical, specialty
and industrial chemical and nutrition industries. The investment
was led by the Paris office of European Capital Financial
Services Limited (“European Capital Financial Services”) and
supports AXA Private Equity’s acquisition of Groupe Unipex
alongside management. ECAS S.à.r.l. has arranged and
underwritten the mezzanine bonds for this transaction.
“We are excited to partner again with AXA Private Equity, a
leading private equity fund in Europe,” said Jean Eichenlaub,
Regional Managing Director Southern Europe, European Capital
Financial Services. “Groupe Unipex’s distribution business
benefits from strong barriers to entry in diversified and
growing niche end markets. The Company is led by an excellent
and ambitious management team and has established longstanding
relationships with top tier brands owners.”
European Capital has invested over €1.4 billion ($2.2 billion)
in the last twelve months, €318 million ($494 million) year to
date and €149 million ($231 million) quarter to date. European
Capital has assisted in the refinance or syndication of €84
million ($130 million) of senior debt for its portfolio
companies in the last twelve months and €607 million ($942
million) inception to date. For more information about European
Capital’s portfolio, click here.
“Groupe Unipex also owns a portfolio of proprietary products
businesses, which offer attractive growth and profitability
prospects,” said Etienne Haubold, Director, European Capital
Financial Services. “Groupe Unipex has a strong pipeline of
products for the fast growing anti-aging and skin care markets.”
“Groupe Unipex is clearly positioned towards value-added
specialty ingredients as opposed to commodities,” said Alexandre
Bruyelle, Manager, European Capital Financial Services. “Since
end-products have mid- to long-term lifecycles and because
customers do not tend to substitute key ingredients, revenues
are recurring in nature.”
Groupe Unipex’s sales force has longstanding relationships with
leading brand owners for whom it offers a broad product offering
and a wide range of R&D, technical, regulatory and after-market
support services. Portfolio ingredients are either sourced with
exclusive agreements from external suppliers or proprietary
active ingredients that have been developed, acquired or
in-licensed. Groupe Unipex works in a diversified range of
growing niche markets within the cosmetics, pharmaceutical,
nutrition and specialty chemicals industries.
“The management team of Groupe Unipex is very pleased to partner
with AXA Private Equity and European Capital and is looking
forward to expanding the business further with them,” said
Charles Boulanger, CEO, Groupe Unipex.
“Management plans to double the size of the Company in the next
five years, mainly in Europe and in North America, through
dynamic organic growth and a focused acquisition strategy,” said
Eric Neuplanche, Managing Director, AXA Private Equity. “We rely
on European Capital’s demonstrated experience to support the
ambitious development plan of Groupe Unipex.”
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 €2.4 billion ($3.8 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 €5 million and €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™
Through our One Stop Buyouts™, 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 recapitalizations, and investing in
structured finance vehicles.
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, Nathalie Faure Beaulieu at + 44 (0)20 7539
7000 in London, 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
www.EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
With $21 billion in capital resources under management1,
American Capital is the only private equity fund and the largest
alternative asset management company in the S&P 500. 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 €5 million to €500 million per company in
Europe.
ABOUT GROUPE UNIPEX
Groupe Unipex specializes in the development, manufacture, and
distribution of active ingredients and specialty chemicals for
world-class producers in the cosmetics, pharmaceutical,
specialty chemical, consumer and nutrition industries. Groupe
Unipex is also active in the areas of cosmetovigilance and
consumer testing through its cosmetics evaluation services. Its
distribution and marketing network serves more than 50 countries
in North America, Europe and Asia and boasts over 150 employees
in five offices in North America and Europe. Additional
information regarding Groupe Unipex is available at
www.unipex.com.
ABOUT AXA PRIVATE EQUITY
AXA Private Equity offers investors a broad selection of high
performance funds for every market segment: Buyout, Expansion
Capital, Venture Capital, Co-investments, Infrastructure,
Mezzanine, Primary, Early Secondary and Secondary Funds of
Funds. The firm manages and/or advises on more than $22 billion
of funds on behalf of leading international investors. In 2005,
European Capital has invested in mezzanine and equity alongside
AXA Private Equity in the Spotless Group (Eau Ecarlate), the
French market leader in laundry and home cleaning products and
three add-on acquisitions.
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.
1Capital resources under management is an estimate of internally
and externally managed assets and available capital resources as
of May 31, 2008 and does not include any fair value adjustments
subsequent to March 31, 2008. |
