Partners Grp E Regulatory News (PEY)

6 Mar 2008 14:09

Princess Private Equity Holding Ltd06 March 2008 Guernsey, 6 March 2008 Princess partnership Pegasus sells Cannondale Bicycle Corporation The Princess Private Equity Holding Limited ("Princess") partnership PegasusPartners II has successfully sold the Cannondale Bicycle Corporation("Cannondale"), the leading designer, developer and manufacturer of high-endbicycles. Widely regarded as the bicycle industry's leading innovator,Cannondale have won numerous design awards during the holding period of Pegasus.In 2003 Pegasus bought Cannondale out of bankruptcy for about USD 58 million andhelped Cannondale return to its core business of making bicycles, resulting in a30-40% growth of its top lines over the period. The sale also includes SugoiPerformance Apparel whose products are used worldwide by runners, cyclists,tri-athletes and fitness enthusiasts who demand the best sporting apparelavailable. The total value of the transaction will be USD 190-200 million,subject to Cannondale's earnings results for the year ending on 30 June 2008. Sandra Pajarola, Head of Partnership Investment at Princess's investment advisorPartners Group, comments: "The successful sale of Cannondale Bicycledemonstrates the return potential of private equity investments even indifficult times. Unlike the challenges that are now apparent in completingbillion dollar plus buyout transactions, there still are attractive exitopportunities in the middle market, as Pegasus Partners illustrates. This againconfirms the importance of a broad investment approach, which investors canprofit from through Princess's diversified portfolio." About Princess: Princess is an investment holding company founded in 1999 and domiciled inGuernsey that invests in private equity and private debt investments. TheCompany is advised in its investment activities by Partners Group, a globalalternative asset management firm listed on the SWX Swiss Exchange (tickersymbol: PGHN) with over CHF 24 billion assets under management in privateequity, private debt, private real estate, listed alternative strategies, hedgefunds and alternative beta strategies. Princess aims to provide shareholderswith long-term capital growth and an attractive dividend yield. Princess istraded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the LondonStock Exchange (ticker symbol: PEY). Further information:www.princess-privateequity.net Contacts: Princess Private Equity Holding Limited: Ken Ball General Manager Phone: +44 1481 730 946 princess@princess-privateequity.net www.princess-privateequity.net Media enquiries and Partners Group: Tamara Krebs Communications Tel.: +41 41 768 85 26 tamara.krebs@partnersgroup.net www.partnersgroup.net This document does not constitute an offer to sell or a solicitation of an offerto buy or subscribe for any securities and neither is it intended to be aninvestment advertisement or sales instrument of Princess Private Equity HoldingLimited. The distribution of this document may be restricted by law in certainjurisdictions. Persons into whose possession this document comes must informthemselves about, and observe any such restrictions on the distribution of thisdocument. In particular, this document and the information contained therein isnot for distribution or publication, neither directly nor indirectly, in or intothe United States of America, Canada, Australia or Japan. This document may have been prepared using financial information contained inthe 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 anythird party. This document may describe past performance, which may not beindicative of future results. The product does not accept any liability foractions taken on the basis of the information provided in this document. Issued and approved by Partners Group (UK) Ltd., authorised and regulated by theFinancial Services Authority in the United Kingdom. This information is provided by RNS The company news service from the London Stock Exchange