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20 Jul 2012 09:08
To: RNS
Date: 20 July 2012
From: F&C Private Equity Trust plc
Realisation Within the Ordinary Share Pool - Bartec
On 17 July 2012 Capvis, the Swiss based mid-market private equity firm, announced the sale of its majority stake in German explosion protection equipment company, Bartec, to Charterhouse. F&C Private Equity Trust plc ('the Company') holds Bartec as a co-investment and also through its investment in Capvis Fund III. The Company invested £2.5 million in Bartec in August 2008.
The combined proceeds to the Company, expected to be received on completion in August or September, will be £7.5 million (based on current exchange rates). This is £2.7 million or 57% above our most recent valuation as at 31 March 2012. During Capvis' tenure, Bartec has almost doubled its profits and the company has enhanced its product range and extended its international footprint. This is another excellent demonstration of the resilience of the European mid-market and of our investment partners' ability to add value against a generally challenging economic background.
For more information, please contact:
Hamish Mair (Investment Manager) | 0131 718 1184 hamish.mair@fandc.com
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Gordon Hay Smith (Company Secretary) | 0131 718 1018 gordon.haysmith@fandc.com
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