HgCapital Trust plc Regulatory News (HGT)

24 Jun 2005 12:24

HG Capital Trust PLC24 June 2005 The following is the text from a press release issued by HgCapital, whichmanages the investment portfolio of HgCapital Trust plc alongside those of otherclients. The trust, which participates in all of HgCapital's investments, willinvest £0.7 million in Amusement Trade Exhibitions Group. HgCapital supports Clarion Events in £13.5 million acquisition of ATE London, 24 June 2005. HgCapital, the sector-focused European mid-market privateequity investor, has invested £4.2 million in Clarion Events' £13.5 millionacquisition of Amusement Trade Exhibitions Group ("ATE"), the commercialexhibition, conference, publishing and services subsidiary of the BritishAmusement Catering Trade Association. HgCapital acquired Clarion, the UK's largest independent exhibition and eventsbusiness, in October 2004 in a £50 million management buy-out to allow thecompany to further its growth strategy. Over the last four years, the companyhas doubled in size and now has a turnover of more than £37 million. Its bestknown consumer shows include the 'Fine Art & Antiques Fair', 'House & Garden','MPH' motor show, 'Baby' and 'Caravan & Outdoor' shows; and business exhibitions'Top Drawer', 'Home & Gift' and 'Mortgage Business Expo'. The acquisition of ATE increases Clarion's portfolio to 44 business and consumerevents, and adds industry-leading events Amusement Trade ExhibitionInternational and the International Casino Exhibition, which are staged inLondon. The portfolio also includes three leading publications: Coinslot,Betting Business and Casino Review. The announcement comes less than a month after Clarion acquired joint-ownershipof the NEC's consumer events organising division. Robin Lincoln, Associate Director in HgCapital's media team, said: "Since weacquired Clarion we have been fully supportive of its growth plans and arepleased to have contributed to this acquisition, which reinforces the company'sleading position. The exhibition sector is currently one of the most attractivemarket segments and we are backing a first-rate management team. We foreseefurther acquisitions being a regular feature." Simon Kimble, Chief Executive of Clarion Events commented "ATE is a world leaderin the amusement gambling and betting industries. It has great products andpeople and operates in an exciting market. This is expected to benefit fromchanging consumer tastes and changing regulation throughout Europe. We believethat both Clarion and ATE will benefit hugely from the combination of skills andexperience." HgCapital Trust plc, an investment trust that participates in all of HgCapital'sinvestments, has invested £0.7 million. £8 million of additional debt facilities were raised from the Corporate BankingMedia Team at The Royal Bank of Scotland. - ends - For further information contact: HgCapitalRobin Lincoln +44 (0)20 7089 7941 robin.lincoln@hgcapital.net ClarionSimon Kimble +44 (0)20 7370 8139 MaitlandNeil Bennett +44 (0)20 7379 5151 nbennett@maitland.co.ukPeter Ogden pogden@maitland.co.uk This information is provided by RNS The company news service from the London Stock Exchange