European Capital Opens London Office
London (ots/PRNewswire)
European Capital Financial Services
Limited ("European Capital Financial Services") announced today the
opening of its London office. European Capital Financial Services is
an affiliate of American Capital Strategies Ltd. (Nasdaq: ACAS), a
United States-based buyout and mezzanine fund. Leading European
Capital in London are Simon Henderson, Managing Director with
responsibility for U.K. buyouts, and Nathalie Faure Beaulieu,
Managing Director and Head of Pan European Mezzanine. The office has
opened with five employees and is the second European Capital
Financial Services office. The European Capital Financial Services
Paris office opened in April, 2005. The two offices are expected to
have a total of over 20 people by year end.European Capital, S.A. SICAR, an affiliate of European Capital Financial Services, will invest in and sponsor management and employee buyouts, invest in private equity buyouts and provide capital directly to private and mid-sized public companies. European Capital intends to invest from euro 5 million (US$6 million) to euro 125 million (US$150 million) per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.
"We are happy to welcome Nathalie Faure Beaulieu and Simon Henderson to European Capital and to formally announce the opening of our London office," said Malon Wilkus, Chairman and CEO of European Capital Limited and American Capital Chairman, President and CEO. "Nathalie is leading our Pan-European mezzanine efforts and Simon our U.K. buyouts initiatives. They both bring remarkable depth and experience to European Capital and will complement the outstanding team in our Paris office."
"Opening the London office is another milestone in the development of our European presence and we're excited to have Simon and Nathalie at European Capital," said Ira Wagner, President and Senior Managing Director of European Capital and American Capital Chief Operating Officer. "European buyout and mezzanine activity totals over euro 70 billion year to date, and we are already seeing a robust transaction pipeline in London and Paris. Both offices will benefit from the backing of American Capital's infrastructure, including our Finance Team, Business Development and Marketing Team, Financial Analysis and Compliance Team (FACT), Legal Department and Operations Team, all of which are growing to accommodate the development of European Capital. In addition, European Capital has recently announced equity commitments of euro 750 million obtained through a private placement. We have outstanding people, low cost capital, and the ability to execute, including our One-Stop Buyout(TM) and one-stop financing capability, to continue expanding our middle market franchise to Europe."
"I am delighted for the opportunity to join a firm as committed to innovation and growth as European Capital," said Mr. Henderson. "The U.K. buyout market is highly competitive, and European Capital offers unique advantages, most particularly perhaps the lowest cost capital in our industry. In addition, I am convinced that our One-Stop Buyout(TM) capability is the way forward."
"The Pan-European mezzanine market has become especially challenging in the past several years," said Ms. Faure Beaulieu. "European Capital, with its permanent capital and long-term, one-stop financing capability is well equipped to confront them. I'm delighted to be here and look forward to building and growing our Pan-European mezzanine operation."
Ms. Faure Beaulieu joins European Capital from Mezzanine Management U.K., where she was a Managing Director and member of the Investment Committee for European Investments. Funds advised by Mezzanine Management companies group have to date invested over US$1 billion in 60 companies in 10 countries. Prior to joining Mezzanine Management in 1992, Ms. Faure Beaulieu worked at DG Investment Bank in London. She has transaction experience in the United Kingdom, France, Germany, Benelux, Italy and the U.S. Since 1990 Ms. Faure Beaulieu has participated in 26 mezzanine transactions worth more than euro 315 million.
Mr. Henderson joins European Capital from Barclays Private Equity, having spent the last 10 years focusing on U.K. buyouts. The Barclays buy-out business is currently investing the euro 1.65 billion Barclays Private Equity European Fund II, which closed in February 2005. While at Barclays he was integral to the buyouts of Edotech Limited, Fosbel Holdings Ltd. and London Luton Airport, all returning in excess of four times invested capital. He served as a director of Edotech, Fosbel, Luton Airport, Lasercom and CRP Group Ltd.
Joining European Capital's London office as Directors are Matthew Gordon Clark and Jerry Tebbutt. Messrs. Gordon Clark and Tebbutt were also previously at Mezzanine Management U.K., where they were Directors focusing on U.K. and European investments. Their transaction responsibilities included origination and structuring of new investments and management and exit of portfolio companies. They have served as non-executive directors on the boards of a number of mezzanine and equity portfolio companies.
ABOUT EUROPEAN CAPITAL
European Capital Financial Services Limited and its parent, European Capital Financial Services (Guernsey) Limited, are wholly-owned affiliates of American Capital. Together, they have agreed to provide investment management and advisory services, personnel, management systems and facilities to European Capital S.A. SICAR, an investment entity currently under formation under the laws of Luxembourg, and its parent, European Capital Limited, a Guernsey company. American Capital has committed to provide a majority of the initial equity capital of European Capital Limited.
Companies interested in learning more about European Capital's flexible financing should contact Simon Henderson, at + 44-(0)-87-0351-6988, or Nathalie Faure Beaulieu at + 44 (0)87 0735 4184, or Jean Eichenlaub at + 33-(0)-1-40-68-06-66, or visit the website at EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded buyout and mezzanine investment company with capital resources of approximately US$6 billion. American Capital has invested in over 170 portfolio companies. American Capital is an investor in and sponsor of 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 equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.
As of September 30, 2005, American Capital shareholders have enjoyed a total return of 407% since the Company's IPO -- an annualized return of 22%, assuming reinvestment of dividends. American Capital has paid a total of US$868 million in dividends and paid US$18.29 dividends per share since its August 1997 IPO at US$15 per share.
Performance data quoted above represents past performance of American Capital. Past performance does not guarantee future results and the investment return and principal value of an investment in American Capital will likely fluctuate. Consequently, an investor's shares, when sold, may be worth more or less than their original cost. Additionally, American Capital's current performance may be lower or higher than the performance data quoted above.
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.EuropeanCapital.com
Contact:
Nathalie Faure Beaulieu, Managing Director, + 44-(0)-87-0735-4184,
Simon Henderson, Managing Director, + 44-(0)-87-0351-6988, or Brian
Maney, Director, Corporate Communications, +1-301-951-6122, all of
European Capital Financial Services Limited