European Capital Invests 22 Million Euro in Global Design Technologies
Geschrieben am 01-10-2007 |
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 that it has invested 22 million euro in Global Design Technologies ("GDT"), the leading world provider of swaged permanent fittings for the aerospace industry. The investment was led by the Paris office of European Capital Financial Services Limited ("European Capital Services"), the sub-investment manager of European Capital. European Capital's investment supports the buyout of GDT by Bridgepoint Capital SAS ("Bridgepoint") and takes the form of the purchase of a second lien facility.
"We are delighted to be investing in Bridgepoint's buyout of GDT, a world leading supplier of aerospace components," said Jean Eichenlaub, Managing Director of European Capital Services Paris branch. "This is the first time that European Capital Services' Paris office has worked with Bridgepoint, a pre-eminent European private equity sponsor. We look forward to a long and mutually rewarding partnership."
"GDT is the market leading supplier of swaged permanent fittings for the aerospace industry, an attractive market secured by strong intellectual property protections, extensive certification requirements, and sole sourcing preferences," said Jacques Pancrazi, European Capital Services Paris branch Director. "At the same time, GDT has responded to the cyclicality of the aerospace industry by successfully diversifying into the US power market."
"The Company has longstanding relationships with its major customers resulting from its consistent high quality and customer satisfaction," said Alexandre Bruyelle, European Capital Services Paris branch Manager. "Anticipated synergies between the French and U.S. entities such as consolidation of purchasing, capacity sharing and lean manufacturing, are likely to improve already excellent margins while selective acquisition opportunities promise to further increase value."
Founded in 2005 when Deutsch Metal Components of the US and Permaswage of France were combined, GDT is the world's leading manufacturer of swaged permanent fitting systems for rigid tubing and pipes used on aircraft for the transport of hydraulic fluids, fuel, oxygen and pneumatic air. GDT designs, manufactures and sells swaged permanent fittings, the tooling required to install the fittings and other related products. The Company also sells permanent fittings and tooling to US utilities for distribution bars, cabling and grounding applications in power sub-stations. GDT sells directly and through distributors. Its major customers include Airbus, the US Government, Lockheed Martin and Boeing as well as four out of the top five U.S. utility companies. Headquartered in Paris, France, the Company has manufacturing facilities in Gardena, CA, and Les Clayes-sous-Bois, France. It has more than 600 employees.
ABOUT EUROPEAN CAPITAL
European Capital is a publicly traded company for pan-European equity, mezzanine and senior debt investments with capital resources of approximately 2.3 billion euro (US$3.2 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 10 million euro and 500 million euro per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.
European Capital has invested over 1.7 billion euro (US$2.4 billion) in the last twelve months, 1.4 billion euro (US$1.9 billion) year to date and 425 million euro (US$601 million) quarter to date. For more information about European Capital's portfolio, go to http://www.ECAS.com/our_portfolio/portfolio.html .
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 or Simon Henderson at + 44-(0)20-7539-7000 in London, Robert von Finckenstein at +49-(0)69-7171-2970 in Frankfurt, or Luis Felipe Castellanos at +34-91-745-99-63 in Madrid, or visit the website at http://www.EuropeanCapital.com .
ABOUT AMERICAN CAPITAL
American Capital Strategies Ltd. (Nasdaq: ACAS) is an affiliate of European Capital and the only alternative asset management company that is a member of the S&P 500. With US$16 billion in assets under management(1), including in externally managed funds, American Capital is the largest U.S. publicly traded private equity fund and one of 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 5 million euro to 500 million euro per company in Europe.
ABOUT BRIDGEPOINT CAPITAL
Bridgepoint is a leading European private equity manager with a 25-year track record of investing in European companies valued up to 1 billion euro through a network of offices in the UK, France, Germany, Italy, the Nordic region, Poland and Spain. In the last ten years, Bridgepoint has completed more than 150 transactions with a total value of 18 billion euro. Bridgepoint's portfolio companies in France include Alain Afflelou, a French and Spanish optical retailer; Groupe Moniteur, the leading French provider of services and information to the construction, public works and architectural industries; and Moliflor, a casino operator.
(1) Assets Under Management is an estimate of internally and externally managed assets as of August 31, 2007 and does not include any fair value adjustments subsequent to June 30, 2007.
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 http://www.americancapital.com
ots Originaltext: European Capital Im Internet recherchierbar: http://www.presseportal.de
Contact: Jean Eichenlaub, Managing Director, Jacques Pancrazi, Director, Alexandre Bruyelle, Manager, or Marie Bal, Communication Manager, all of European Capital Limited, +33-(0)1-40-68-06-66
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