Princess Private Equity Holding Ltd NAV increases by 1.1% (1490G)
25 May 2017 - 1:02AM
UK Regulatory
TIDMPEY
RNS Number : 1490G
Princess Private Equity Holding Ltd
24 May 2017
News Release
Guernsey, 24 May 2017
NAV increases by 1.1%
-- Princess Private Equity Holding Limited's ("Princess") net
asset value increased by 1.1% to EUR 10.88 per share
-- Currency movements (-0.2%) were slightly negative while
overall portfolio developments (+1.4%) were positive
-- Princess received distributions of EUR 17.5 million and
invested EUR 11.3 million over the reporting period
Princess received a total of EUR 17.5 million during the month,
including proceeds of EUR 9.7 million from private equity direct
investment Hofmann Menue Manufaktur ("Hofmann"), a leading German
producer and supplier of customized cooked and frozen food products
to small and medium sized business canteens and social
organizations. The proceeds were funded from the combination of a
new term loan and balance sheet cash and returned approximately
0.6x initial invested capital. Since the acquisition in January
2014, Hofmann has reported solid financial results while generating
strong cash flows. The company's management continues to pursue
further sales efficiency gains through digitalization and enhanced
customer relationship management initiatives. Hofmann has also
initiated steps to further strengthen the control of operational
and production costs by focusing on process enhancements along with
identifying make-or-buy opportunities. Distributions of EUR 5.4
million stemmed from Princess' mature legacy fund portfolio.
Princess invested a total of EUR 11.3 million during the month,
of which EUR 10.9 million was allocated to Cerba HealthCare
("Cerba"), a European medical laboratory services operator. The
company is a leading operator of clinical pathology laboratories,
with a number one position in France and strong market positions in
Belgium and Luxembourg. The company is characterized by its
successful M&A track record, outstanding financial performance
and the presence of strong opportunities for both organic and
external growth. Cerba has proven expertise in acquiring and
integrating bolt-on acquisition targets in the highly fragmented
French market. Partners Group will support the numerous growth
opportunities of the business. These include the continuation of
Cerba's highly successful M&A strategy within the French market
and internationally, as well as the acceleration of organic growth
and development in other segments.
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 over EUR 54 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 London Stock Exchange
(ticker symbol: PEY). Further information:
www.princess-privateequity.net.
Contacts
Princess Private Equity Holding Limited:
princess@partnersgroup.com
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
Email: george.crowe@partnersgroup.com
Media relations contact
Jenny Blinch
Phone: +41 41 784 65 26
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 company news service from the London Stock Exchange
END
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