TIDMOCI
RNS Number : 8788P
Oakley Capital Investments Limited
23 June 2022
23 June 2022
Oakley Capital Investments Limited
Oakley Capital Investments Limited(1) ("OCI") is pleased to
announce that Oakley Capital Fund III(2) ("Fund III") has reached
an agreement to sell its stake in Facile.it, Italy's largest online
price comparison platform.
OCI's share of proceeds will be c.GBP53 million and the sale
represents a c.23% premium to the 31 March 2022 carrying value, an
uplift of c.6 pence per share to the Company's NAV.
Note that the above figure only relates to OCI's share of
proceeds from the sale of Facile.it.
OCI's liquid resources available for future deployment
(including this transaction) are estimated to be c.GBP200
million.
Further details on the transaction can be found in the below
announcement from Oakley Capital(3.)
Oakley Capital agrees sale of Facile.it
Oakley Capital ("Oakley") is pleased to announce that Oakley
Capital Fund III ("Fund III") has reached an agreement to sell its
stake in Facile.it ("Facile"), Italy's largest online price
comparison platform, to Silver Lake.
Fund III invested in Facile in 2018, alongside EQT Private
Equity. During the course of the investment the business has
continued to pioneer the Online Price Comparison market in Italy,
developing innovative products that save its users hundreds of
millions of euros every year. Over time, Facile has expanded its
diversified product offering and unique omnichannel distribution
proposition that underpin its long-term growth trajectory, allowing
it to benefit from the continued market digitalisation and
e-commerce penetration.
Today, Facile.it reaches a base of over four million unique
monthly users via an end-to-end seamless experience across its
website, 39 stores, and over three thousand agents, and has grown
its EBITDA by more than 20% on average over the last four
years.
Facile CEO, Tobias Stuber, commented:
"On behalf of the Facile management team and all employees, I
would like to thank our investors EQT and Oakley Capital for the
successful, collaborative, and highly productive partnership over
the past four years on our journey towards capitalising further on
our position as a landmark destination for Italy's household
spending. Thanks to the support of our investors, we are in an even
better position today for the next phase of our growth with our new
partner Silver Lake."
Oakley Capital Managing Partner, Peter Dubens, commented:
"Our successful investment in Facile has built on our deep
expertise investing in digital marketplaces including price
comparison websites. We would like to thank Tobias and his team for
their hard work in growing the business over the last four years,
delivering vertical diversification and significant customer
growth."
- ends -
For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Steven Tredget
Greenbrook Communications Limited
+44 20 7952 2000
Rob White / Michael Russell
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Chris Clarke / Darren Vickers / Owen Matthews
Notes:
LEI Number: 213800KW6MZUK12CQ815
(1) About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment
vehicle that aims to provide shareholders with consistent long-term
capital growth in excess of the FTSE All-Share Index by providing
liquid access to private equity returns through investment in the
Oakley Funds.
A video introduction to OCI is available at
https://oakleycapitalinvestments.com/videos/
The contents of the OCI website are not incorporated into, and
do not form part of, this announcement.
(2) The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II, Oakley Capital Private Equity
III, Oakley Capital IV, Oakley Capital V and Oakley Capital Origin
Fund are unlisted lower-mid to mid-market private equity funds that
aim to provide investors with significant long-term capital
appreciation. The investment strategy of the Funds is to focus on
buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement.
(3) Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the
repeated ability to source attractive growth assets at attractive
prices. To do this it relies on its sector and regional expertise,
its ability to tackle transaction complexity and its deal
generating entrepreneur network.
Important information
Specialist Fund Segment securities are not admitted to the
Official List of the Financial Conduct Authority. Therefore, the
Company has not been required to satisfy the eligibility criteria
for admission to listing on the Official List and is not required
to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional,
professional, professionally advised and knowledgeable investors
who understand, or who have been advised of, the potential risk
from investing in companies admitted to the Specialist Fund
Segment.
This announcement may include "forward-looking statements".
These forward-looking statements are statements regarding the
Company's objectives, intentions, beliefs or current expectations
with respect to, amongst other things, the Company's financial
position, business strategy, results of operations, liquidity,
prospects and growth. Forward-looking statements are subject to
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Accordingly
the Company's actual future financial results, operational
performance and achievements may differ materially from those
expressed in, or implied by, the statements. Given these
uncertainties, prospective investors are cautioned not to place any
undue reliance on such forward-looking statements, which speak only
as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the Company's expectations with regard to
them or any change in events, conditions or circumstances on which
any such statements are based unless required to do so by the
Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or
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