European Capital Invests 29 Million Euro in Buyout of Soflog-Telis
12/09/2007 20:56
PR Newswire
ST. PETER PORT, Guernsey, September 12 /PRNewswire/ --
European Capital S.A. SICAR, a wholly-owned subsidiary of European
Capital Limited (LSE: ECAS) ("European Capital") announced today that it,
together with ECAS S.a.r.l. and ECAS II S.a.r.l., has invested 29 million
euro in the buyout of Soflog-Telis, a leading provider of logistics services
to major industrial customers in France. The investment was led by the Paris
office of European Capital Financial Services Limited ("European Capital
Services"), the sub-investment manager of European Capital, and takes the
form of equity and senior and junior mezzanine debt. Following the
investment, European Capital and the Soflog-Telis' management team led by
Bruno de Chaisemartin, former Chairman, are the majority shareholders of
Soflog-Telis with a combined 55% ownership. 3i maintains its current 45%
stake in Soflog-Telis.
"We are very proud to support Soflog-Telis. The Company has successfully
implemented a unique business model in the industrial logistics sector in
France and has a large offering of business services for the industrial
supply chain," said Jean Eichenlaub, Managing Director of European Capital
Services.
"Bruno de Chaisemartin is a highly successful manager with a deep
knowledge of the logistics outsourcing sectors. Soflog-Telis' attractive
business model is centered on its operational flexibility and national
network, which provides effective and rapid response to industrial demand
fluctuations as companies are increasingly willing to outsource their
industrial logistics," said Tristan Parisot, Director of European Capital
Services. "This majority buyout alongside Soflog-Telis CEO Bruno de
Chaisemartin and his management team will enable Soflog-Telis to remain
independent while providing the group the resources to pursue its growth
strategy."
Founded in 1952, Soflog-Telis is the leading provider of outsourced
industrial logistics to over 2,100 customers, among them many blue chip
industrial companies operating within a diversity of end-markets, including
aerospace, naval, energy, telecom, medical, automotive and transportation.
Soflog-Telis provides a comprehensive range of logistics services which allow
customers to focus on their core-business while outsourcing and lowering
logistics costs. The Company's services include upstream operations,
production line operations and downstream operations. Soflog grew at
approximately 10% annually between 2003 and 2006 when it acquired Groupe
Telis, another fast-growing supplier of logistics services. This build-up
doubled the size of the group which now reaches 158 million euro revenues.
Soflog-Telis is based in Asnieres, near Paris, and has 52 leased sites
nationwide, 6 sites situated within client facilities, and more than 1,800
employees.
"European Capital stands out with its flexibility, speed and dedication
to working closely with management teams," said Bruno de Chaisemartin, new
CEO of Soflog-Telis. "The Company has enjoyed a solid organic growth over the
last 5 years and I am very excited to pursue this adventure with the existing
team. The growth potential of Soflog-Telis is strongly supported by the
outsourcing trend in France and its ability to provide quality, customized
logistics solutions at a local level is a significant advantage."
"Soflog-Telis now aims to extend its offer of services to its industrial
customers by offering new added-value services, such as specific packaging,
outsourced control, and reverse logistics offer," continued Mr. de
Chaisemartin. "Soflog-Telis offers its customers innovative and customized
solutions with high level quality and closed follow-up. This strategy will
enable the group to increase its presence in aerospace, medical, energy and
railway sectors."
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$3.2 billion). European Capital invests in and sponsors
management and employee buyouts, invests in private equity buyouts and
provides capital directly to private and public companies headquartered
predominantly in Europe. European Capital generally invests between 15
million euro and 500 million euro per transaction in equity, mezzanine debt
and senior debt to fund growth, acquisitions and recapitalizations.
European Capital has invested over 1.7 billion euro (US$ 2.3 billion) in
the last twelve months, 1.3 billion euro (US$ 1.7 billion) year to date and
304 million euro (US$ 419 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? 500. With US$17 billion in assets under management(1),
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.
(1) Assets Under Management is an estimate of internally and externally
managed assets as of July 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
Jean Eichenlaub, Managing Director, Tristan Parisot, Director, or Marie Bal, Communication Manager, all of European Capital Services, +33-0-1-40-68-06-66