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European Capital Invests 22 Million Euro in Global Design Technologies
ST. PETER PORT, Guernsey, October 1 /PRNewswire/ --
ECAS S.a.r.l, an indirect wholly-owned subsidiary of European Capital
Limited (LSE: ECAS) ("European Capital") announced today that it has invested
22 million euro in Global Design Technologies ("GDT"), the leading world
provider of swaged permanent fittings for the aerospace industry. The
investment was led by the Paris office of European Capital Financial Services
Limited ("European Capital Services"), the sub-investment manager of European
Capital. European Capital's investment supports the buyout of GDT by
Bridgepoint Capital SAS ("Bridgepoint") and takes the form of the purchase of
a second lien facility.
"We are delighted to be investing in Bridgepoint's buyout of GDT, a world
leading supplier of aerospace components," said Jean Eichenlaub, Managing
Director of European Capital Services Paris branch. "This is the first time
that European Capital Services' Paris office has worked with Bridgepoint, a
pre-eminent European private equity sponsor. We look forward to a long and
mutually rewarding partnership."
"GDT is the market leading supplier of swaged permanent fittings for the
aerospace industry, an attractive market secured by strong intellectual
property protections, extensive certification requirements, and sole sourcing
preferences," said Jacques Pancrazi, European Capital Services Paris branch
Director. "At the same time, GDT has responded to the cyclicality of the
aerospace industry by successfully diversifying into the US power market."
"The Company has longstanding relationships with its major customers
resulting from its consistent high quality and customer satisfaction," said
Alexandre Bruyelle, European Capital Services Paris branch Manager.
"Anticipated synergies between the French and U.S. entities such as
consolidation of purchasing, capacity sharing and lean manufacturing, are
likely to improve already excellent margins while selective acquisition
opportunities promise to further increase value."
Founded in 2005 when Deutsch Metal Components of the US and Permaswage of
France were combined, GDT is the world's leading manufacturer of swaged
permanent fitting systems for rigid tubing and pipes used on aircraft for the
transport of hydraulic fluids, fuel, oxygen and pneumatic air. GDT designs,
manufactures and sells swaged permanent fittings, the tooling required to
install the fittings and other related products. The Company also sells
permanent fittings and tooling to US utilities for distribution bars, cabling
and grounding applications in power sub-stations. GDT sells directly and
through distributors. Its major customers include Airbus, the US Government,
Lockheed Martin and Boeing as well as four out of the top five U.S. utility
companies. Headquartered in Paris, France, the Company has manufacturing
facilities in Gardena, CA, and Les Clayes-sous-Bois, France. It has more than
600 employees.
ABOUT EUROPEAN CAPITAL
European Capital is a publicly traded company for pan-European equity,
mezzanine and senior debt investments with capital resources of approximately
2.3 billion euro (US$3.2 billion). European Capital invests in and sponsors
management and employee buyouts, invests in private equity buyouts and
provides capital directly to private and public companies headquartered
predominantly in Europe. European Capital generally invests between 10
million euro and 500 million euro per transaction in equity, mezzanine debt
and senior debt to fund growth, acquisitions and recapitalizations.
European Capital has invested over 1.7 billion euro (US$2.4 billion) in
the last twelve months, 1.4 billion euro (US$1.9 billion) year to date and
425 million euro (US$601 million) quarter to date. For more information about
European Capital's portfolio, go to
http://www.ECAS.com/our_portfolio/portfolio.html .
Companies interested in learning more about European Capital's flexible
financing should contact Jean Eichenlaub at + 33-(0)1-40-68-06-66 in Paris,
Nathalie Faure Beaulieu or Simon Henderson at + 44-(0)20-7539-7000 in London,
Robert von Finckenstein at +49-(0)69-7171-2970 in Frankfurt, or Luis Felipe
Castellanos at +34-91-745-99-63 in Madrid, or visit the website at
http://www.EuropeanCapital.com .
ABOUT AMERICAN CAPITAL
American Capital Strategies Ltd. (Nasdaq: ACAS) is an affiliate of
European Capital and the only alternative asset management company that is a
member of the S&P 500. With US$16 billion in assets under management(1),
including in externally managed funds, American Capital is the largest U.S.
publicly traded private equity fund and one of the largest publicly traded
alternative asset managers. American Capital, both directly and through its
global asset management business, is an investor in management and employee
buyouts, private equity buyouts, and early stage and mature private and
public companies. American Capital provides senior debt, mezzanine debt and
equity to fund growth, acquisitions, recapitalizations and securitizations.
American Capital and its affiliates invest from US$5 million to US$800
million per company in North America and 5 million euro to 500 million euro
per company in Europe.
ABOUT BRIDGEPOINT CAPITAL
Bridgepoint is a leading European private equity manager with a 25-year
track record of investing in European companies valued up to 1 billion euro
through a network of offices in the UK, France, Germany, Italy, the Nordic
region, Poland and Spain. In the last ten years, Bridgepoint has completed
more than 150 transactions with a total value of 18 billion euro.
Bridgepoint's portfolio companies in France include Alain Afflelou, a French
and Spanish optical retailer; Groupe Moniteur, the leading French provider of
services and information to the construction, public works and architectural
industries; and Moliflor, a casino operator.
(1) Assets Under Management is an estimate of internally and externally
managed assets as of August 31, 2007 and does not include any fair value
adjustments subsequent to June 30, 2007.
This press release contains forward-looking statements. The statements
regarding expected results of European Capital and/or American Capital 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 European Capital and/or American Capital has made
investments.
Web site: http://www.EuropeanCapital.com
http://www.americancapital.com






