Sale of Milestone Aviation

RNS Number : 8183U

JZ Capital Partners Ltd

21 October 2014

 



JZ CAPITAL PARTNERS ANNOUNCES SALE OF MILESTONE AVIATION GROUP

21 October 2014

JZ Capital Partners Limited ("JZCP"), the London and Channel Islands listed private equity fund which invests in high quality US and European micro-cap companies, is pleased to announce an agreement to sell its equity interest in Milestone Aviation Group Ltd. ("Milestone Aviation") to GE Capital Aviation Services.

JZCP first invested in Milestone Aviation in September 2010, investing a total of US$15.1 million to date. JZCP is expected to receive a total of US$40 million from the sale, representing an estimated multiple of equity Invested of 2.8x and an IRR of 36%.

Milestone Aviation is the world's largest helicopter leasing company headquartered in Dublin, Ireland. The company is focused on leasing helicopters to the oil and gas, and mining industries, as well as to emergency and search and rescue services. It has a fleet of more than 168 helicopters worth US$2.8 billion, which are leased to 31 operators in 25 countries.

JZCP is also pleased to announce that it has purchased 21% of Paragon Water Systems ("Paragon") for US$9.2 million, a platform investment in our water vertical's new filtration strategy. Paragon designs and manufactures portable water filtration systems for use in homes and commercial locations.

For further information:

Ed Berry / Kit Dunford                                                                         [phone]

FTI Consulting

About JZCP

JZCP is a London and Channel Islands listed private equity fund which invests in high quality US and European micro-cap companies. Its 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 for investors. JZCP also invests in mezzanine loans, first and second lien investments and other publicly traded securities. For more information please visit www.jzcp.com.

 

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