Information  X 
Enter a valid email address

Princess Private Eq. (PEY)

  Print   

Wednesday 28 July, 2021

Princess Private Eq.

NAV increases by 4.8% in June

RNS Number : 6637G
Princess Private Equity Holding Ltd
28 July 2021
 

News Release

 

Guernsey, 28 July 2021

 

NAV increases by 4.8% in June

 

· Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 4.8%   to EUR 15.24 per share

· Portfolio developments (+4.8%) and currency movements (+0.1%) were positive

· Princess invested EUR 6.4 million and received distributions of EUR 34.2 million

 

In June, Princess' NAV increased by 4.8%, bring performance for the first half-year to +16.7%. The positive performance was driven by a number of portfolio companies. Amongst the largest value drivers was Foncia, a property management and real estate services provider in France. The company continues to strengthen its position in the French market via M&A, with close to 50 acquisitions closed in FY2021. Foncia has also hired new country heads to lead the company's expansion in the German and Belgian markets. SPi Global, a content and data solutions provider, was positively revalued. Performance has been strong across all divisions: the edtech solutions business unit has achieved strong growth on the back of robust e-learning tailwinds continuing in 2021; the data solutions business has seen robust sales momentum with several new account wins; and research content services continues to outperform budget. SPi has been rebranded to 'Straive', which reflects the company's transformation from a content services provider to a content, data, and edtech solutions player.

 

Princess received distributions of EUR 34.2 million, including proceeds of EUR 26.8 million following the exit of Cerba HealthCare, a leading player in medical diagnostics. Over its four-year period of ownership, Partners Group worked alongside Cerba's management team to enhance its operations in new markets and expand its international footprint . Further, Princess received distributions of EUR 6.1 million which stemmed from SRS Distribution, a US distributor of roofing products, supported by strong same-store-sales growth. SRS remains highly acquisitive and recently expanded its regional presence in Chicago with acquisitions of three additional distributors, bringing the number of locations to 460 across 44 states.

 

Princess invested EUR 6.4 million in Axia Women's Health, a leading women's healthcare provider in the US. Axia provides a highly integrated platform of non-clinical business and administrative support services to its network of physician practices across the US. Axia has partnered with more than 80 care centers comprising 150 locations, which offer a wide range of care, including obstetrics, gynecology, laboratory, mammography, urogynecology, fertility, and other sub-specialties. Partners Group will work closely with Axia's management team on a range of value creation initiatives such as expanding in-demand ancillary services; improving patient experience, outcomes, and engagement; and continued accretive M&A in both its existing geographical footprint and new regions.

 

Princess will hold a quarterly investor update on 17 August 2021 at 10:00 BST / 11:00 CET. During the webcast, Partners Group, the Investment Manager to Princess, will give an update on the recent developments of the Princess portfolio based on unaudited figures as of 30 June 2021. Please find the registration details on the Company's webpage or register directly here .

 

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/en/investor-relations/financial-reports/.

 

Ends.

 

About Princess

Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is managed in its investment activities by Partners Group, a global private markets investment management firm with USD 119 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

 

 

Contacts

Princess Private Equity Holding Limited:

[email protected]

www.princess-privateequity.net

 

Registered Number: 35241

 

LEI: 54930038LU8RDPFFVJ57

 

Investor relations contact

George Crowe

Phone: +44 20 7575 2771

Email: [email protected]

 

Media relations contact

Jenny Blinch

Phone: +44 207 575 2571

Email: [email protected]

www.partnersgroup.com

 

This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein are not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

 

This document may have been prepared using financial information contained in the 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 any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
STREAKXXAFAFEFA

a d v e r t i s e m e n t