Acquisition and realisation of Investments

RNS Number : 5135K

JZ Capital Partners Ltd

18 July 2011

 



JZ CAPITAL PARTNERS LIMITED

 (Registration No. 48761)

Registered Office:

2^ND FLOOR, REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT,

GUERNSEY, GY1 3NQ

___________________________

TELEPHONE:  + 44 1481 720321 

FACSIMILE:  + 44 1481 716117

E-MAIL:  [e-mail]

For immediate release - 18^th July 2011

·     SALE OF INVESTMENT IN AC TECH

·     PARTICIPATION IN THE ACQUISITION OF JUSTRITE MANUFACTURING COMPANY

JZ Capital Partners Limited ("JZCP"), the London listed private equity fund that invests in high quality US and European micro cap companies, has realised its investment in AC TECH, for $18.2 million.

After deducting escrows, JZCP received net proceeds of $18.2 million from the sale, creating a gain of $5.5 million ($0.08 per share) above the May 2011 valuation of $12.7 million.  JZCP purchased AC TECH in 2001 and earned a multiple of capital invested of 5.6x and an IRR of 34.6%. The terms of the transaction are undisclosed.

AC TECH, which is a manufacturer of sealants and chemical products for the aerospace industry that employs 70 people at sites in California, Missouri and Georgia, was purchased by 3M Company.

JZCP is also pleased to announce that it has added another co-investment to its portfolio through an investment in Justrite Manufacturing Company LLC.  Based in Des Plaines, Ill., Justrite's range of products includes safety cabinets, safety cans, spill containment systems and related accessories that are sold to end users worldwide through an extensive network of more than 1,700 North American and international distributors.

Justrite has 200 employees and annual worldwide sales of more than $50 million. JZCP co-invested with Baird Capital Partners along with Justrite's management. As of today JZCP currently has 42 investments in its portfolio.

David Zalaznick, JZCP's Founder and Investment Adviser, said: "AC TECH was part of our legacy portfolio which has almost been fully realized.  Our investment in Justrite Manufacturing complements our existing portfolio very well. We remain well positioned to take advantage of the ongoing opportunities in the micro cap market in both the US and Europe."

For further information:

Neil Doyle/ Ed Berry                                                                [phone] /7297

Financial Dynamics

David Zalaznick                                                                       [phone]

Jordan/Zalaznick Advisers, Inc.

About JZCP

JZCP is a London listed private equity fund which invests in high quality US and European micro cap companies. Our objective is to achieve a superior overall return comprised of a current yield and significant capital appreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers, Inc ("JZAI") which is led by David Zalaznick and Jay Jordan. They have worked together for 30 years and are supported by teams of investment professionals in New York, Chicago, London and Madrid. JZAI's experts work with the existing management of micro cap companies to help build better businesses, create value and deliver strong returns to our investors. JZCP also invests in mezzanine loans, first and second lien investments and other publicly traded securities. For more information please visit our website at www.jzcp.com

 

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