JZCP Jz Capital Partners Limited

 
TIDMJZCP TIDMJZCN 
 
JZ CAPITAL PARTNERS LIMITED (the "Company" or "JZCP") 
 
 (a closed-ended investment company incorporated with limited liability under 
              the laws of Guernsey with registered number 48761) 
 
                           LEI 549300TZCK08Q16HHU44 
 
             Disposal of Interest in Industrial Services Solutions 
                      and Associated Rollover Investment 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET 
ABUSE REGULATION (EU) NO. 596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE 
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). 
 
14 December 2022 
 
JZ Capital Partners Limited, the London listed fund that has investments in US 
and European microcap companies and US real estate, is pleased to announce it 
has agreed to sell its interest in Industrial Services Solutions ("ISS"), one 
of the Company's US micro-cap portfolio companies, to Wynnchurch Capital (the 
"Disposal"). 
 
It is expected that, in connection with the Disposal, JZCP will receive (a) 
initial proceeds of approximately US$22.5 million payable upon closing, and (b) 
up to a further approximately US$8.3 million which will be payable post-closing 
pursuant to a standard escrow arrangement that is subject to customary final 
closing adjustments. The Company intends to use the proceeds it receives in 
connection with the Disposal towards the implementation of the aims of the 
Company's investment policy and for general corporate purposes. 
 
The Company also notes that Edgewater Growth Capital Partners L.P. (including 
its parallel and affiliated funds and investment vehicles) ("Edgewater"), one 
of the Company's major shareholders, and the Fund A Entities (as defined 
below), of which David W. Zalaznick and John (Jay) W. Jordan II (the "JZAI 
Founders") are the senior personnel of the general partner, the manager and the 
senior investment team, are participating in the Disposal on the same terms as 
the Company in respect of their respective ownership interests. For the 
purposes of this announcement, the "Fund A Entities" means Fund A, L.P. 
together with its parallel Funds (Fund A Parallel Fund I L.P., Fund A Parallel 
Fund II L.P., and Fund A Parallel Fund III L.P.). 
 
In addition to the Disposal, JZCP will continue to maintain an interest in ISS 
to be held through a new investment vehicle, Industrial Service Solutions WC 
L.P., together with Edgewater and the Fund A Entities who will also continue to 
maintain an interest through the same vehicle on a pari passu basis (the 
"Rollover Investment" and, together with the Disposal, the "Transaction"). The 
value attributable to JZCP's share in the Rollover Investment is approximately 
US$21.1 million. Signing and completion of the Transaction is to occur 
simultaneously on the date of this Announcement. 
 
ISS is a provider of aftermarket maintenance, repair, and field services for 
critical process equipment throughout the US. 
 
The total value attributable to the Transaction, taking into account the 
proceeds of the Disposal and the value of the Rollover Investment, amounts to 
US$52.0 million, which represents 54.2 per cent. of the net asset value 
attributable to JZCP's interest in ISS of US$95.9 million as at 31 August 2022. 
The Company's realisation of its investment in ISS is however being undertaken 
in furtherance of the Company's investment policy and with the partial 
realisation derisking its investment in the context of that policy. 
 
Market Abuse Regulation 
 
The information contained within this announcement is considered by the Company 
to constitute inside information as stipulated under MAR. Upon the publication 
of this announcement, this inside information is now considered to be in the 
public domain. 
 
The person responsible for arranging the release of this announcement on behalf 
of the Company is David Macfarlane, Chairman of JZCP. 
 
______________________________________________________________________________________ 
 
For further information: 
 
Kit Dunford / Ed Berry                  +44 (0)7717 417 038 / +44 (0)7703 
FTI Consulting                          330 199 
 
David Zalaznick                         +1 (212) 485 9410 
Jordan/Zalaznick Advisers, Inc. 
 
Hannah Hayward                          +44 (0) 1481 745417 
Northern Trust International Fund 
Administration Services (Guernsey) 
Limited 
 
Important Notice 
 
This announcement includes statements that are, or may be deemed to be, 
"forward-looking statements". These forward-looking statements can be 
identified by the use of forward-looking terminology, including the terms 
"believes", "estimates", "anticipates", "expects", "intends", "may", "will" or 
"should" or, in each case, their negative or other variations or comparable 
terminology. These forward-looking statements relate to matters that are not 
historical facts. By their nature, forward-looking statements involve risks and 
uncertainties because they relate to events and depend on circumstances that 
may or may not occur in the future. Forward-looking statements are not 
guarantees of future performance. The Company's actual investment performance, 
results of operations, financial condition, liquidity, policies and the 
development of its strategies may differ materially from the impression created 
by the forward-looking statements contained in this announcement. In addition, 
even if the investment performance, result of operations, financial condition, 
liquidity and policies of the Company and development of its strategies, are 
consistent with the forward-looking statements contained in this announcement, 
those results or developments may not be indicative of results or developments 
in subsequent periods. These forward-looking statements speak only as at the 
date of this announcement. Subject to their legal and regulatory obligations, 
each of the Company, Jordan/Zalaznick Advisers, Inc. and their respective 
affiliates expressly disclaims any obligations to update, review or revise any 
forward-looking statement contained herein whether to reflect any change in 
expectations with regard thereto or any change in events, conditions or 
circumstances on which any statement is based or as a result of new 
information, future developments or otherwise. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

December 14, 2022 12:15 ET (17:15 GMT)

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