European Capital Receives Proceeds Of €14 Million From Tokheim

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• Publié par: american-capital-ltd
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• Langue: English

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European Capital Receives Proceeds Of €14

Million From Tokheim

PR Newswire

ST. PETER PORT, Guernsey, July 13, 2012

ST. PETER PORT, Guernsey,

July 13, 2012

/PRNewswire/ -- European Capital

Limited ("European Capital") announced today that an affiliate has received

proceeds of €14 million from exiting its investments in Tokheim Holding and a

subsidiary.

Tokheim, based in

Paris, France

, is one of the world's leading manufacturers

and service providers of fuel dispensing and retail automation equipment. With

operations in many countries around the globe, Tokheim offers customers a

complete range of fuel dispensers and pumps, retail automation systems,

payment terminals, media devices, replacement parts and upgrade kits, and a

full range of support services, including maintenance, service station

construction and project management.

In

January 2006

, European Capital invested €14 million to support the

secondary buyout of Tokheim by Cognetas, including €7 million in the second

lien facility and €7 million in the mezzanine facility. In

July 2007

, the Company

repaid the mezzanine and convertible bonds through additional senior and

second lien facilities, and European Capital subsequently reinvested €7 million

in the second lien facility.

European Capital's exit comes as Tokheim and its majority shareholder, Motion

Equity Partners (previously known as Cognetas), have completed an all senior

refinancing of the Company, reducing its leverage and extending the maturity

of its debt until 2019. At the same time, Motion Equity Partners, together with a

new minority shareholder (FSI, Fonds Strategique d'Investissement), have

brought approximately €80 million of additional equity to support further the

strategy and continued growth of the company.

"We are very pleased to have supported Tokheim growing internationally over

the past six years," said Tristan Parisot, Managing Director of European Capital

Services. "As a unique worldwide leader in the highly attractive energy sector,

led by a strong management team, Tokheim perfectly illustrates the kind of

business we like."

Since its inception, European Capital has invested €3.4 billion in 100 companies.

European Capital will consider mezzanine, unitranche and equity investment

opportunities from €10 million to €100 million.

ABOUT EUROPEAN CAPITAL

European Capital is an investment company for pan-European equity,

mezzanine and senior debt investments with €1.2 billion in assets under

management. European Capital is a wholly-owned affiliate of American Capital,

Ltd. ("American Capital"). European Capital is managed by European Capital

Financial Services (Guernsey), a wholly-owned affiliate of American Capital, and

its subsidiary and subinvestment manager, European Capital Financial Services.

European Capital Financial Services has offices in

London

and

Paris

. As of

31

March 2012

, European Capital Financial Services had 5 investment teams with

20 investment professionals and employed 26 support staff. European Capital

and its affiliates will consider senior and mezzanine debt investment

opportunities from 10 million to 40 million in either euros or sterling and up to

100 million for One Stop Buyouts®. For further information, please refer to

www.EuropeanCapital.com.

ABOUT AMERICAN CAPITAL

American Capital is a publicly traded private equity firm and global asset

manager. American Capital, both directly and through its asset management

business, originates, underwrites and manages investments in middle market

private equity, leveraged finance, real estate and structured products.

American Capital has

$101 billion

in assets under management and seven

offices in the U.S. and Europe. American Capital and its affiliates will consider

investment opportunities up to

$500 million

. For further information, please

refer to www.AmericanCapital.com.

Contact: European Capital Financial Services Limited

+ 33-1-40-

68-06-66

Stephane Legrand, Director

Kevin Abrial, Investment Director