Investment

RNS Number : 3513U

EPE Special Opportunities Limited

02 December 2021

 

EPE Special Opportunities Limited

Investment

EPE Special Opportunities Limited ("ESO" or the "Company") is pleased to announce that ESO Alternative Investments LP (an undertaking of ESO, in which it is the sole investor) ("ESO AI") has committed to invest a total of €10 million into EPIC Acquisition Corp ("EAC"), a newly incorporated special purpose acquisition company ("SPAC") and EAC's sponsor, EAC Sponsor Limited (the "Sponsor").

EAC today announced its intention to raise up to €150 million and its expected admission to listing and trading on Euronext Amsterdam on or around 6 December 2021 (the "IPO").

EAC intends to leverage the experience of EPIC Investment Partners LLP ("EPIC"), TT Bond Partners ("TTB") and their respective affiliates to identify, acquire and develop an innovative company operating in the consumer sector in the European Economic Area (the "EEA") or the United Kingdom which has the potential for significant growth in Asian markets (the "Business Combination"). EAC is targeting companies with an enterprise value of between €500 million and €1 billion.

The Sponsor is jointly led by EPIC, a UK-headquartered investment, advisory and administration firm which has 20 years' experience of using publicly-listed vehicles to make private equity investments, and TTB, a Hong Kong-based investment and advisory business which has extensive local relationships across Asia and a strong track record of helping global brands access and develop in Asian markets. EPIC is the Investment Advisor to ESO.

EAC will be supported by dedicated teams within EPIC and TTB. The combined platforms of EPIC and TTB span the UK, Hong Kong, Guernsey, Ireland and India and include c.250 employees, with 30 investment and advisory professionals.

The Sponsor has been formed to provide EAC with institutional leadership and resources, combining private equity and public markets investing experience, broad and highly active deal sourcing networks in Europe and Asia, operational leadership in the consumer sector and a deep and proven understanding of how global companies can succeed in Asian markets.

EAC will also benefit from the appointment of three independent non-executive directors with outstanding operating and financial track records. Stephan Borchert and Jan Zijderveld are both experienced public markets chief executive officers (CEOs), responsible for generating a collective c.$4 billion in shareholder value in the last three years through the sale of GrandVision (of which Mr Borchert is CEO) to EssilorLuxottica and the exit of Avon Products (of which Mr Zijderveld was CEO) to Natura & Co. Prior to his role at Avon Products, Mr Zijderveld was President and CEO of Unilever Europe. They are complemented by Nisha Kumar, an experienced CFO who will be the chair of EAC's Audit Committee. Ms Kumar has deep expertise in financial leadership, operations and corporate finance across public and private companies and private equity.

In combination, the Sponsor's investing, advisory and operating track record in Europe and Asia is expected to help EAC identify and successfully complete a Business Combination with a high-quality company in the EEA or the United Kingdom attracted by the unusual combination of investment capital and a track record of Asian market access and growth.

Subsequent to the Business Combination, the Sponsor will continue to actively support the growth of EAC, both through the implementation of organic initiatives and strategic acquisitions, most notably in local Asian markets where such acquisitions offer the potential to accelerate growth. The longer-term objective of both EAC and the Sponsor is to build a business at the forefront of consumer innovation, recognised in both its home markets and in Asia.

Further information on EAC can be found on the company's website, www.epicacquisitioncorp.com .

ESO's Investment

ESO is investing in both EAC and the Sponsor, which allows it to access potentially enhanced returns versus an investment solely in the IPO, as a result of the Sponsor's ownership of Class B ordinary shares ("Founder Shares") and warrants ("Founder Warrants") in EAC.

The Board of ESO believes that the potentially enhanced returns profile, combined with the opportunity to access larger and more geographically diverse companies through a liquid investment structure, means that the investment in EAC is attractive for the Company's shareholders.

Related Party Transaction

The transaction constitutes a related party transaction under Rule 13 of the AIM Rules.

The Board of ESO considers, having consulted with Numis as the Company's nominated adviser, that the terms of the transaction are fair and reasonable in so far as the Company's shareholders are concerned.

Inside Information

This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

The person responsible for releasing this information on behalf of the Company is Amanda Robinson of Langham Hall Fund Management (Jersey) Limited.

Enquiries:

EPIC Investment Partners LLP	[phone] James Henderson
Langham Hall Fund Management (Jersey) Limited	[phone] Amanda Robinson
Cardew Group Limited	[phone] Richard Spiegelberg
Numis Securities Limited	[phone]
Nominated Advisor:	Stuart Skinner
Corporate Broker:	Charles Farquhar

 

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