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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Acp Capital | LSE:APL | London | Ordinary Share | GB00B0T9K295 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.375 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0138Y ACP Capital Limited 08 June 2007 8 June 2007 ACP Capital commits to underwrite Euro149.5 million of senior debt for IFR's acquisition of Homann Commitment marks launch of senior debt underwriting business ACP Capital Limited ("ACP Capital" or the "Company": APL.LN), the merchant bank and asset manager focused on European small and medium sized enterprise ("SME") markets, today announces the launch of its senior debt underwriting business through its commitment to underwrite a senior debt bridge of up to Euro149.5 million alongside a mezzanine commitment of Euro66m by ACP Mezzanine Limited ("ACP Mezzanine": ACPM.LN) for the acquisition by IFR Capital Plc ("IFR": IFR.LN) of Homann Chilled Food GmbH ("Homann"). This transaction represents a component of the integrated finance package the Company provides alongside ACP Mezzanine. The facility demonstrates the power of ACP Capital's SME-focused integrated financing strategy as well as the support ACP Capital is able to provide to underpin the acquisition strategy and growth of IFR, an AIM-listed investment company focused on consolidation opportunities in the European retail food sector. ACP Capital created IFR in October 2006 alongside Heiner Kamps, the German retail food entrepreneur. The Company owns approximately 21% of IFR. ACP Capital also earns a management fee from IFR that from December 2007 will be set at a percentage of IFR's enterprise value. The creation of a senior debt financing platform is an important step in the development of ACP Capital's debt underwriting business. The new financing platform is expected to generate recurring upfront fees, commitment fees and interest income for the Company. It is one of three financing platforms operated by ACP Capital created to provide European SMEs with an integrated finance package. The other two financing platforms are equity and mezzanine finance. In order to further the growth of these businesses, a head of ACP Capital's financing business has been identified and will be announced shortly. Homann is an established and renowned food manufacturer located in Germany's Dissen/Westphalia region and is a market leader in chilled salads and convenience products, both in the food retailing and discount distribution channels. Founded in 1876, Homann has evolved from being a traditional producer of meat and sausages into a supplier of chilled food. Homann is IFR's third acquisition following the purchases of Nordsee GmbH ("Nordsee"), Europe's largest fish restaurant chain and premier non-burger fast food chain in Germany and Austria, and Bastians GmbH ("Bastians"), a premium bakery brand. The acquisition is closely aligned with IFR's objective of creating a leading, vertically-integrated food business with a view to acquiring potentially synergistic businesses to spur its further growth. IFR expects to create significant cross-selling and administrative synergies from owning and operating both Homann and Nordsee. Enquiries: Simon Atkinson, Collins Stewart Europe Limited (Nominated Advisor to the Company) +44 (0) 20 7523 8350 Rob Bailhache & Nick Henderson, Financial Dynamics +44 (0) 20 7269 7200 (Media Relations) For further information on ACP Capital, please visit www.acpcapital.com. About ACP Capital ACP Capital Limited (LSE AIM: APL) is a Jersey-incorporated specialist integrated finance and asset management company focusing on both the asset-backed and non asset-backed sectors in the European small and mid-sized enterprise (SME) market. The company's shares were admitted to trading on AIM in January 2006, raising approximately #50m before costs, followed by a further #15m share placing in December 2006. In March 2007, the company completed a further #150m capital raising in order to finance its intended development plans, including the development of additional funding lines, managed vehicles and strategic platforms to originate loans and assets in Germany, the UK, France and Italy. As an integrated finance specialist, ACP Capital offers a combination of equity, mezzanine and senior debt to companies in niche markets, such as the German 'Mittelstand' (privately-owned SMEs), and for asset-backed transactions in sectors like real estate and infrastructure. The company intends to put in place levered loan and non-investment grade funding vehicles in order to complement its current product base with a view to providing financing solutions across the capital structure. As an asset manager, ACP Capital manages a series of investment vehicles that can provide the required funding for its integrated finance capabilities. ACP Capital intends to launch at least two managed vehicles each year in specific sectors in its target markets. These managed vehicles are intended to take advantage of the planned flow of asset opportunities from the expansion of the company's funding capabilities and strategic platforms. ACP Capital intends to receive management and performance-related fees from these vehicles in addition to any share price increase as a strategic equity investor. To date, ACP Capital has launched two such vehicles, ACP Mezzanine Limited and IFR Capital plc. On 8 March 2007 ACP Capital announced that it had raised a committed leverage facility of #125 million with Deutsche Bank for ACP Senior High Yield, a soon-to-be-launched managed vehicle focusing on the acquisition of European senior debt assets originated primarily through ACP Capital's SME-focused integrated finance business, and through the primary and secondary markets. ACP Capital's Board includes the highly regarded retail entrepreneur, Heiner Kamps, the Director General of the international real estate investment and development company Jesta Group, Francois Georges, the Managing Director of the full service real estate private equity firm Presidio Partners LLC, Alan Braxton, an Italian certified barrister and Director of Investimente e Sviluppo S.p.a., Daniele Discepolo, Derek Vago, Eric Youngblood, Nikolaj Larsen and two other Non-Executive Directors. About IFR Capital IFR Capital plc (LSE AIM: IFR) is an acquisition platform targeting small and medium-sized businesses in the continental European food industry across three sub-sectors: retail (mainly shops/ restaurants), industry (wholesale and production), and distribution. Founded in October 2006 by ACP Capital and food retail entrepreneur Heiner Kamps, IFR was admitted to trading on AIM in November 2006 after raising approximately Euro135 million pre costs. IFR is currently considering various opportunities in the European food sector with a view to acquiring potentially synergistic businesses that would help propagate the company's further growth. Further opportunities include the ongoing expansion of IFR's new premium bakery brand, Bastians, to major European cities. Further details of these opportunities will be announced as they become available. Ultimately, IFR's intended long-term strategy is to create a leading, vertically-integrated food business with turnover of at least Euro1.5 billion by 2009 and an EBITDA margin of approximately 10%. IFR benefits from the operational management of Heiner Kamps as well as the broad financing experience and capabilities of ACP Capital. About ACP Mezzanine ACP Mezzanine Limited (LSE AIM: ACPM) is a Jersey-incorporated company that listed on AIM in July 2006 after raising Euro100 million. Its strategy is to pursue opportunities as a mezzanine lender, originating, structuring and underwriting the majority of its investments. ACP Mezzanine's investment strategy is implemented and managed by ACP Capital through an Investment Management Agreement. ACP Mezzanine's strategy is different from that followed by a number of participants in the mezzanine financing market, which focus on acquiring assets directly from third parties through a syndication process. ACP Mezzanine lends primarily across Europe, with origination arising through a direct integrated finance approach alongside ACP Capital's strategic platforms and managed vehicles, and, to a lesser extent, purchases of assets in the secondary market if the expected risk adjusted returns are attractive. It is expected that the integrated finance approach will account for at least two thirds of ACP Mezzanine's investments over time. ACP Mezzanine's Board includes Derek Vago, Christophe Tanghe, Wolfgang Mellinghof and two other Non-Executive Directors. This information is provided by RNS The company news service from the London Stock Exchange END MSCEANKXEFDXEFE
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