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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:6882O ACP Mezzanine Ltd 28 December 2006 28 December 2006 ACP Mezzanine Limited ("ACP Mezzanine" or "The Company") - Underwrites Euro100m debt package for Nordsee GmbH ("Nordsee") ACP Mezzanine, a closed-ended limited liability investment company incorporated in Jersey, which is focused primarily on mezzanine lending in the Continental European small and mid-cap sector, announces that the Company has underwritten a debt package for Nordsee, Europe's largest fish speciality restaurant chain. The transaction, totalling Euro100m, represents the Company's first underwriting transaction since its listing in July 2006 and demonstrates ACP Mezzanine's ability to rapidly and competitively take advantage of an integrated finance strategy alongside ACP Capital Limited. ACP Capital Limited will also participate in the debt package. The debt package contains Euro80m of senior debt and in addition, ACP Mezzanine will extend the maturity of its current junior and senior mezzanine tranches of Euro10m each to the end of June 2007. The debt package is linked to IFR Capital's announced acquisition of Kamps Food Retail Investments S.A. ("KFRI"), the owner of Nordsee. Jeff Bennett, Chief Investment Officer for ACP Mezzanine said: "This transaction takes ACP Mezzanine to a new level and proves its abilities to provide full integrated finance by using its balance sheet in an effective way. Furthermore, the Nordsee financing is a good example of how ACP Capital can originate attractive investment opportunities for ACP Mezzanine." For further information: Redleaf Communications Rob Bain +44 20 7822 0200 ACP Mezzanine Limited Jeff Bennett +44 20 7082 3930 Notes to Editors: ACP Mezzanine Limited ACP Mezzanine Limited is a Jersey-incorporated company which listed on AIM in July 2006 and whose strategy is to pursue a primary strategy as a mezzanine lender, originating, structuring and underwriting the majority of its mezzanine investments. ACP Mezzanine's investment strategy is implemented and managed by a subsidiary of 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 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, Jeff Bennett, Christophe Tanghe and 2 other Non-Executive Directors. In addition, Wolfgang Mellinghof is expected to be appointed to the Board in the near future. Kamps Food Retail Investments S.A./Nordsee GmbH KFRI was founded in 2005 by Heiner Kamps and subsequently acquired Nordsee, Europe's largest fish-restaurant chain and the number one non-burger fast food chain in Germany and Austria. Heiner Kamps and ACP Capital are significant shareholders in KFRI. As at 30 April 2006, Nordsee operated 414 outlets throughout Germany, Austria, Switzerland, Slovenia and the Czech Republic, primary located in pedestrian areas, shopping malls, train stations, and airports - 374 stores; and - 40 franchised stores. - It has a unique brand enjoying 90% brand recognition in the markets in which it operates - 90 million yearly customers. The business focuses on three types of shops: - 184 Sea-Buffet Stores, accounting for c. 48% of sales for FY2005 (Year end September) offering in-store consumption meals and take-away snacks; - 212 Restaurants, accounting for c. 43% of sales for FY2005, offering in-store consumption meals and take away snacks; and - 18 Snack Shops, accounting for c. 2% of sales for FY2005, mainly offering take-away snacks. In Austria Nordsee operates the largest wholesaler specialising in fresh fish distribution (Cerny & Nordsee AG) - Accounting for c. 7% of sales for FY2005. IFR Capital Plc IFR Capital Plc ("IFRC"), which was admitted to the AIM list of the London Stock exchange in a circa Euro135m flotation in November 2006, has been established to act as an acquisition platform intending to target small and mid-sized businesses in the continental European food industry, within three sub-sectors: retail (mainly shops/restaurants), industry (wholesale and production) and distribution. IFRC will firstly focus on the retail and industry segments as the Directors of the Company believe that these areas offer an initial opportunity for achieving synergies and shareholder returns. The Directors believe that the distribution segment of the industry is to be relevant but only once IFRC has reached a certain scale. The Directors believe there is a unique consolidation opportunity in the food retail sector in Continental Europe, and especially Germany, and anticipate a need for cross border consolidation with an increasing focus on brands and chains. At the same time, the Directors believe that the succession problems for many small and mid sized companies may lead to a number of potential acquisition opportunities. The Directors believe that Heiner Kamps with his track record will be viewed positively as an entrepreneur within the food industry, especially as the Directors believe that there is a hesitant view both among owners and managers of small and medium-sized enterprises towards private equity investment companies. As such, the Directors believe that IFRC has an opportunity to approach various targets in Germany 'off the market'. ACP Capital Limited ACP Capital is a Jersey-incorporated niche integrated finance provider specialising in the European SME market whose shares were admitted to trading on AIM in January 2006. As an integrated finance specialist, ACP Capital can offer a combination of equity, mezzanine and senior debt to companies in niche markets, such as the German "Mittelstand" (small and middle-sized privately-owned companies), and for asset backed transactions, for example, in the real estate and infrastructure sectors. 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 2 managed vehicles each year in specific sectors in its target markets. ACP Capital's strategy is to develop strong synergies between its broad funding capabilities and its various managed vehicles, providing optimal financing solutions to its clients while securing a strong flow of recurring revenue for its core business. ACP Capital's CEO is Derek Vago, who is assisted on the Board by Heiner Kamps, Francois Georges and Alan Braxton (as well as 2 other Non-Executive Directors). In addition, Nikolaj Larsen (Head of Strategic Investments) and Eric Youngblood (CFO) have recently been appointed to the Board. A further key team member is Jeff Bennett, who is the Group's Chief Investment Officer for ACP Mezzanine. For more information please see www.acpcapital.com Ends. This information is provided by RNS The company news service from the London Stock Exchange END MSCUBRNRNNRUUAA
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