Equus II Incorporated Announces Investment in Family Entertainment and Leisure Sector
January 05 2006 - 4:41PM
PR Newswire (US)
HOUSTON, Jan. 5 /PRNewswire-FirstCall/ -- Equus II Incorporated
(NYSE:EQS) (the "Fund") announces an investment in Riptide
Entertainment LLC ("Riptide") by acquiring a 65% interest in
Riptide. Terms were not disclosed. Riptide is a leisure and
entertainment company engaged in developing and operating Ripley's
Believe It or Not! Museums in the United States and abroad. Riptide
focuses its activities on high volume tourist locations around the
world. Riptide also purchases interests in existing Ripley's
museums. "We are excited about the Fund's entry into the family
entertainment sector," said Anthony Moore, Co-Chairman, CEO and
President of Equus. "We believe that this investment, combined with
the Ripley's world-renowned brand, will provide Equus shareholders
with an opportunity to participate on a global basis in the rising
level of household expenditures in the fast growing family
entertainment sector. This investment is consistent with our
strategy of investing in businesses that are equipped to benefit
from 21st century growth trends." "This is a new opportunity for
Equus to participate in world-class venues, domestic and abroad,"
added Gary Forbes, Senior Vice President of Equus. "The strategic
and financial partnership we have structured with Equus will
provide Riptide with an important source of investment capital to
permit us to identify and pursue solid investments in
tourist-driven entertainment projects," commented David Gray,
President of Riptide. "To be able to leverage the knowledge of the
private equity professionals at Equus will be extremely valuable."
Equus II Incorporated is a business development company that trades
as a closed-end fund on the New York Stock Exchange, under the
symbol "EQS". Additional information on Equus II Incorporated may
be obtained from Equus' website at http://www.equuscap.com/ . This
press release may contain certain forward-looking statements
regarding future circumstances. These forward-looking statements
are based upon the Company's current expectations and assumptions
and are subject to various risks and uncertainties that could cause
actual results to differ materially from those contemplated in such
forward-looking statements including, in particular, the risks and
uncertainties described in the Company's filings with the
Securities and Exchange Commission. Actual results, events, and
performance may differ. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
to the date hereof. The Company undertakes no obligation to release
publicly any revisions to these forward-looking statements that may
be made to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events. The inclusion of
any statement in this release does not constitute an admission by
the Company or any other person that the events or circumstances
described in such statements are material. Contact: Brett Chiles
(713)-529-0900 DATASOURCE: Equus II Incorporated CONTACT: Brett
Chiles of Equus II Incorporated, +1-713-529-0900 Web site:
http://www.equuscap.com/
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