Princess Private Equity Holding Ltd NAV increases by 0.2% in January (1147E)
26 Febrero 2020 - 1:00AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 1147E
Princess Private Equity Holding Ltd
26 February 2020
News Release
Guernsey, 26 February 2020
NAV increases by 0.2% in January
-- Princess Private Equity Holding Limited's (Princess) net
asset value increased by 0.2% to EUR 12.59 per share
-- Portfolio developments (+0.2%) and currency movements (+0.2%) were positive
-- Princess invested EUR 27.9 million during the month and
received distributions of EUR 10.2 million
Princess invested a total of EUR 27.9 million during the month
of January, of which EUR 6.8 million was invested in portfolio
company AMMEGA, a global leader in mission critical belting
solutions. The additional equity will be used to finance the
acquisition of Midwest Industrial Rubber (MIR), the largest
lightweight belting fabricator and value-added distributor in the
US. Founded in 1980, MIR operates in 29 locations across the US,
servicing more than 2'000 large blue-chip customers across
approximately 3'500 facilities. It covers a diverse range of
end-markets such as prepared foods, agriculture and dairy, hygiene,
industrials as well as carton and paper. MIR has long-term
relationships with its customers, evidenced by an average
relationship length of over 15 years for its top-ten customers, and
a retention rate of over 96% across its entire customer base. The
acquisition supports the expansion of AMMEGA's business in the
Americas, which is expected to grow by 1.5 times in sales, while
increasing EBITDA and net synergies, over the next five years.
EUR 11.2 million was invested in eResearch Technology, alongside
lead investors Astorg and Nordic Capital. eResearch Technology is a
provider of integrated online software application services that
enable the pharmaceutical, biotechnology and medical device
industries to collect, interpret and distribute cardiac safety and
clinical data more efficiently during clinical trials. The
investment represents an opportunity to gain exposure to a company
with a leading market position in a growing segment with high
barriers to entry, supported by market trends driven by
digitization of clinical trial tests.
EUR 9.9 million was invested in Allied Universal (fka Universal
Services of America), a US-base provider of facility and security
services. Princess was previously invested in the business from
2013 until 2015 when Partners Group sold a controlling equity stake
to Warburg Pincus. As part of the current transaction, Princess
alongside other programs managed/advised by Partners Group, will
re-invest in Allied Universal through a new vehicle managed by
Warburg Pincus. Since Partners Group's original investment in 2013,
Allied Universal has led the industry's consolidation through
dozens of complementary acquisitions. Such M&As strengthened
Allied Universal's market position in North America, while
increasing its service portfolio and expanding into new territories
such as Central and Latin America, and the UK. In addition, the
company realized considerable cost and operational synergies.
Princess received distributions of EUR 10.2 million during the
month, predominantly from the mature legacy fund portfolio.
Further information is available in the monthly report, which
can be accessed via:
http://www.princess-privateequity.net/financialreports .
Ends.
About Princess
Princess is an investment holding company founded in 1999 and
domiciled in Guernsey. It invests, inter alia, in private equity
and private debt investments. Princess is advised in its investment
activities by Partners Group, a global private markets investment
management firm with USD 94 billion in investment programs under
management in private equity, private debt, private real estate and
private infrastructure. Princess aims to provide shareholders with
long-term capital growth and an attractive dividend yield. Princess
is traded on the Main Market of the London Stock Exchange (ticker:
PEY for the Euro Quote; PEYS for the Sterling Quote).
Contacts
Princess Private Equity Holding Limited:
princess@partnersgroup.com
www.princess-privateequity.net
Registered Number: 35241
LEI: 54930038LU8RDPFFVJ57
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
Email: george.crowe@partnersgroup.com
Media relations contact
Jenny Blinch
Phone: +44 207 575 2571
Email: jenny.blinch@partnersgroup.com
www.partnersgroup.com
This document does not constitute an offer to sell or a
solicitation of an offer to buy or subscribe for any securities and
neither is it intended to be an investment advertisement or sales
instrument of Princess. The distribution of this document may be
restricted by law in certain jurisdictions. Persons into whose
possession this document comes must inform themselves about and
observe any such restrictions on the distribution of this document.
In particular, this document and the information contained therein
are not for distribution or publication, neither directly nor
indirectly, in or into the United States of America, Canada,
Australia or Japan.
This document may have been prepared using financial information
contained in the books and records of the product described herein
as of the reporting date. This information is believed to be
accurate but has not been audited by any third party. This document
may describe past performance, which may not be indicative of
future results. No liability is accepted for any actions taken on
the basis of the information provided in this document. Neither the
contents of Princess' website nor the contents of any website
accessible from hyperlinks on Princess' website (or any other
website) is incorporated into, or forms part of, this
announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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