PEYS Princess Private Equity Holding Limited

TIDMPEY TIDMPEYS

RNS Number : 3529N

Princess Private Equity Holding Ltd

24 September 2019

News Release

Guernsey, 24 September 2019

Princess publishes August NAV

-- Princess Private Equity Holding Limited's (Princess) net asset value decreased by 0.2% to EUR 11.67 per share

   --   Portfolio developments (-0.2%) were negative and currency movements (+0.2%) positive 

-- Princess invested EUR 7.0 million during the month and received distributions of EUR 4.1 million

Princess invested a total of EUR 7.0 million during the month of August, of which EUR 4.8 million was invested in Blue River PetCare (Blue River), a leading US-based operator of veterinary hospitals for companion animals. Founded in 2009 and headquartered in Chicago, Illinois, Blue River operates over 90 general practice hospitals in 23 states, employing over 300 veterinarians and specialists. Blue River operates in the general practice veterinary services space, a segment that has proven to be stable through economic cycles, as vet expenditures are perceived as non-discretionary in nature. The sector is highly fragmented and total consolidation represents just 13% of veterinary hospitals in the market. Going forward, Partners Group will work closely with Blue River to expand its business development team and source for small-scale acquisitions. The company will also invest in local and digital marketing efforts, as well as online scheduling to drive same-site volume through new and repeat customer growth. Additionally, the company will apply market-based pricing at the clinic level and pursue other top line and bottom line value creation opportunities for the clinics.

EUR 2.0 million was invested in Schleich GmbH (Schleich). Founded in 1935 and headquartered in Schwäbisch Gmünd, Germany, Schleich is one of Germany's largest toy manufacturers and specializes in figurines and playsets, which are sold in more than 50 countries through over 40'000 offline points of sale and online. Schleich is considered an attractive investment given its market-leading position for figurines in the DACH region, along with a strong brand name known for high quality, durability and detailing. The company has demonstrated a robust revenue CAGR of 15.9% from 2014-2018, driven by expansion into playsets in Germany and growth in international markets, and has visible growth opportunities across geographic lines, sales channels and product categories. Following the acquisition, Partners Group will work closely with Schleich's management team on driving international expansion across key markets such as the UK, France, and the US, by increasing brand awareness, pushing e-commerce and defining clear channel strategies.

Princess received distributions of EUR 4.1 million during the month, of which EUR 1.8 million stemmed from the ongoing sale of shares in Ceridian HCM, following the company's listing on the New York Stock Exchange in April 2018.

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 EUR 80 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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