European Capital Invests 26 Million Euro Equivalents in the Multi-Currency Unitranche Bonds Supporting the FDS Group's Refinancing and Acquisition of AGS
ST. PETER PORT, Guernsey, June 11, 2012 /PRNewswire/ -- European Capital Limited and its affiliates ("European Capital") announced today that they have completed the investment of 26 million Euro equivalents in the multi-currency (including USD, CAD$ and EUR) unitranche bonds supporting The FDS Group's refinancing and acquisition of Canadian company AGS Group, Inc. ("AGS"), which took place in November 2011 and January 2012, respectively.
The FDS Group is an international market leader in the manufacturing and distribution of high-end sealing solutions, serving oil and gas industries, power generation (including nuclear), chemical and petrochemical industries, in both emerging and developed markets throughout the world. The company has its own manufacturing facilities in the U.S., Canada, Mexico, the United Kingdom, France, Germany and China, in addition to an extensive network of licensed manufacturers. The FDS Group is majority owned by Eurazeo PME.
AGS Group, Inc. is a leading supplier of gaskets, fasteners, pipe supports and instrumentation to the fast-growing Canadian market. Established in 1979 and with locations in Edmonton, Calgary, Sarnia, Grand Prairie and Red Deer, AGS has built a solid reputation for leading edge sealing solutions and technologies to support the oil and gas industries in Alberta and throughout Canada.
"We are very pleased to invest in the multi-currency unitranche bonds underwritten by the Private Debt team of AXA Private Equity and Capzanine to support The FDS Group," said Tristan Parisot, Managing Director of European Capital Financial Services Limited ("ECFS"). "This investment perfectly illustrates European Capital's ability to provide flexible financing solutions ranging from mezzanine and unitranche to minority or majority equity investments, with multi-currency funding capabilities if needed, and follow-up commitments to growing portfolio companies."
"As a long-time trusted partner of The FDS Group, the addition of AGS to the group's portfolio is expected to generate significant growth and value," stated Stéphane Legrand, Director at ECFS. "The group generates revenues from a balanced mix of energy-related industries and through a global presence. The company also enjoys long-time relationships with leading blue chip clients serving industries with attractive growth prospects, while being led by an excellent management team that has set up impressive governance standards."
"We were glad to welcome European Capital among our unitranche bondholders," stated Rémi Toledano, President and Chief Executive Officer of The FDS Group. "We appreciate their cross-border coverage and the experience of their Energy team, which could prove useful in some of our future developments."
Since its inception, European Capital has invested €1.1 billion ($1.5 billion) in France in 28 different companies. European Capital will consider mezzanine, unitranche and equity investment opportunities from €10 million to €100 million.
ABOUT EUROPEAN CAPITAL
European Capital is an investment company for pan-European equity, mezzanine and senior debt investments with €1 billion in assets under management. European Capital is a wholly-owned affiliate of American Capital, Ltd ("American Capital"). It is managed by European Capital Financial Services (Guernsey) Limited ("ECFSG" or the "Investment Manager"), a wholly-owned affiliate of American Capital. The Investment Manager has offices in London and Paris. As of 31 March 2012 the Investment Manager had 5 investment teams with 20 investment professionals and employed 26 support staff. European Capital and its affiliates will consider senior and mezzanine debt investment opportunities from 10 million to 40 million in either euros or sterling and up to 100 million for One Stop Buyouts®. For further information, please refer to www.EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. American Capital has $101 billion in assets under management and seven offices in the U.S. and Europe. American Capital and its affiliates will consider investment opportunities up to $500 million. For further information, please refer to www.AmericanCapital.com.
Contact: European Capital Financial Services Limited + 33 1 40 68 06 66
Stéphane Legrand, Director
Olivier Meline, Investment Director
Alexandre Bruyelle, Investment Director
SOURCE European Capital Limited