European Capital Invests Euro 35 Million in Eau Ecarlate, Leading Supplier of Branded Fabric Care Products in French Market
Paris (ots/PRNewswire)
European Capital, S.A. SICAR announced today it has invested euro 35 million in Eau Ecarlate, the leading supplier of branded fabric care products to the French retail market. European Capital's investment takes the form of mezzanine bonds and equity and supports Axa Private Equity's buyout of Eau Ecarlate. Eau Ecarlate management is investing in the equity.
"We are delighted to announce our Paris office's first mezzanine
investment, quickly following its first buyout investment," said Ira
Wagner, President of European Capital Financial Services Limited
("European Capital Services"), the investment sub-manager of European
Capital. "Eau Ecarlate is a 150 year old brand with strong
recognition and a loyal customer base, and we are pleased to be
supporting Axa's buyout."European Capital has invested approximately euro 148 million in seven companies since its formation in August of this year.
"Eau Ecarlate is the clear category leader in the linen care products and eye glass cleaner markets in France, in addition to having established a strong track record of acquiring and relaunching brands," said European Capital Services Managing Director Jean Eichenlaub. "The Company has experienced strong organic growth coupled with gains from product innovation as well as brand acquisitions, and is a solid investment."
"European Capital is supporting Eau Ecarlate's strong, experienced and well recognized management team," said European Capital Services Vice President Stephane Legrand. "Under its leadership, Eau Ecarlate has prospered, grown and continued to build its historic brand as well as produced outstanding financial performance."
The Eau Ecarlate brand was established more than 150 years ago and is widely recognized as the leading laundry aid brand in France. The Company's products include Eau Ecarlate linen care products, Vigor surface cleaners, Vu eye glasses cleaner, Javel Dose bleach products, Allume Vite fire lighters, and Septifos toilette and septic system cleaner, all highly recognized brands. Eau Ecarlate sells to every major supermarket and hypermarket in France. The Company has seen revenues increase at nearly 18%, annualized, over the last ten years.
"European Capital proved to be the right mezzanine partner for this transaction," said Philippe Poletti, Axa Private Equity Director. "We appreciate their ability to quickly understand our investment thesis and then quickly get to closing."
ABOUT EUROPEAN CAPITAL
European Capital is a buyout and mezzanine fund with capital resources of euro 750 million. European Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts and provides capital directly to private and mid-sized public companies. European Capital invests from euro 5 million to euro 125 million per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.
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, Simon Henderson at + 44(0)87-0351-6988 or Nathalie Faure Beaulieu at + 44(0)87-0735-4184 in London, or visit our website at http://www.EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
American Capital Strategies Ltd. (Nasdaq: ACAS), an affiliate of European Capital, is a publicly traded buyout and mezzanine fund with capital resources of approximately US$7 billion. American Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts, provides capital directly to private and small public companies and through its asset management business is a manager of debt and equity investments in private companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions and recapitalizations.
This press release contains forward-looking statements. The statements regarding expected results of American Capital Strategies 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 American Capital has made investments.
Web site: http://www.americancapital.com http://www.EuropeanCapital.com
Contact:
Jean Eichenlaub, Managing Director, +33(0)1-40-68-06-66, or Stephane
Legrand, Vice President, +33(0)1-40-68-06-66, both of European
Capital Services; or Brian Maney, Director, Corporate Communications,
of American Capital Strategies Ltd., +1-301-951-6122