Equus II Incorporated Announces Sale of Champion Window for $98.5 Million
January 25 2006 - 3:38PM
PR Newswire (US)
HOUSTON, Jan. 25 /PRNewswire-FirstCall/ -- Equus II Incorporated
(NYSE:EQS) (the "Fund") announces the sale of Champion Window
Holdings, Inc. ("Champion") to an investor group led by Kenner
Equities IV L.P. and management in a transaction valued at
approximately $98.5 million. The Fund will receive approximately
$28.1 million in cash from the sale of its common stock from an
initial investment of $1.5 million in March 1999, and has
previously received an additional $7.5 million in dividends.
Headquartered in Houston, TX, Champion is a manufacturer and
distributor of aluminum and vinyl windows for new single and
multi-family residential construction in Houston, San Antonio,
Austin and Dallas, and is one of the largest window manufacturing
companies in the southwest. "We are excited about this transaction
because of the value it creates for our shareholders," commented
Sam P. Douglass, Co-Chairman of Equus. "This deal is representative
of the Fund's investment strategy in solid, small-cap companies
with good management. Champion has been a super performer for Equus
and we believe it represents a home run for our shareholders. We
are proud to have had this opportunity to help build this quality
company." 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/ . Kenner Equities IV, L.P. is a New York
investment firm with substantial experience in the business
products industry. 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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