JZ Capital Ptnrs Ltd JZCP Announces Sale of Paragon Water Systems

 
TIDMJZCP TIDMJZCC TIDMJZCN 
 
JZ CAPITAL PARTNERS ANNOUNCES SALE OF PARAGON WATER SYSTEMS FOR 1.8x GROSS 
                             RETURN ON INVESTMENT 
 
      $16.2 million in gross proceeds realised, delivering an 18.4% IRR 
 
14 March 2018 
 
JZ Capital Partners Limited (LSE:JZCP.L or "JZCP"), the London listed fund that 
invests in US and European microcap companies and US real estate, is pleased to 
announce the sale of Paragon Water Systems, Inc. ("Paragon") to Culligan Water, 
the world leader in residential, office, commercial and industrial water 
treatment. 
 
Founded in 1988 and headquartered in Tampa, Florida, Paragon develops and 
produces "point-of-use" water filtration products for leading global Original 
Equipment Manufacturer ("OEM") clients, big brand suppliers to specialty and 
big box retailers, direct sales organisations and companies with national or 
international water filtration dealership networks. 
 
JZCP expects to realise approximately $16.2 million in gross proceeds 
(including escrows) from the sale, representing an increase of approximately 
$3.7 million, or 29.6% on the carrying value of Paragon of approximately $12.5 
million as of 31 January 2018. In addition to increasing JZCP's overall NAV as 
of January 31, 2018 by 0.4%, this transaction represents a gross multiple of 
invested capital ("MOIC") of approximately 1.8x and a gross internal rate of 
return ("IRR") of approximately 18.4%. 
 
David Zalaznick, JZCP's Founder and Investment Adviser, commented: "We are 
pleased with this realisation above JZCP's net asset value. One of our 
objectives is to demonstrate to shareholders and potential new investors that 
our NAV is conservatively valued. We hope to continue our realisation cycle and 
build liquidity for our previously stated goals of making new investments, 
paying down debt and buying back stock." 
 
The transaction follows the recent announcement that JZCP is to sell Bolder 
Healthcare Solutions ("BHS") to a subsidiary of Cognizant, one of the world's 
leading professional services companies, for gross proceeds of approximately 
$108.0 million, representing an increase in NAV of approximately 4.3%, as of 31 
January 2018. 
 
                                     Ends 
 
For further information: 
 
Ed Berry / Kit Dunford 
FTI Consulting 
[phone] 
 
David Zalaznick 
Jordan/Zalaznick Advisers, Inc. 
[phone] 
 
Paul Ford 
JZ Capital Partners 
[phone] 
 
About JZCP 
 
JZ Capital Partners ("JZCP") is one of the oldest closed-end investment 
companies listed on the London Stock Exchange. It seeks to provide shareholders 
with a return by investing selectively in US and European microcap companies 
and US real estate. JZCP receives investment advice from Jordan/Zalaznick 
Advisers, Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They 
have worked together for more than 35 years and are supported by teams of 
investment professionals in New York, Chicago, London and Madrid. JZAI's 
experts work with the existing management of microcap companies to help build 
better businesses, create value and deliver strong returns for investors. For 
more information please visit www.jzcp.com. 
 
 
 
END 
 

(END) Dow Jones Newswires

March 14, 2018 03:00 ET (07:00 GMT)