Equus II Incorporated Announces Merger of Container-Care International and Global Intermodal Systems
September 15 2004 - 5:35PM
PR Newswire (US)
Equus II Incorporated Announces Merger of Container-Care
International and Global Intermodal Systems HOUSTON, Sept. 15
/PRNewswire-FirstCall/ -- Equus II Incorporated (NYSE:EQS) ("Equus"
or the "Fund") is pleased to announce the merger of Container-Care
International, one of its portfolio companies, with Global
Intermodal Systems. The combined entity of almost 1000 employees
will have 30 facilities and offices located throughout the United
States, Mexico and Costa Rica and will be one of the world's
largest providers of depot and related shipping container services.
The new company offers a wide array of services including container
and chassis depot services, mobile repair, transportation,
stevedoring and custom bonded warehouse services. It is also one of
the largest re-sellers of intermodal equipment in North America. In
connection with the merger, Equus converted its existing
investments in Container-Care and CCI-ANI Finance, LLC, including
notes receivable, preferred stock, and common stock, into notes
receivable and common stock representing approximately 28% of the
equity of the combined company. As of June 30, 2004, the Equus
investments in Container-Care and CCI-ANI Finance, LLC represented
approximately 2.5% of the Fund's net assets. Any change in the
investment's value to Equus from the transaction is not expected to
be material in relation to the Fund's current net asset value, but
the expected synergies from the merger may result in increases in
the value of the Fund's investment in the future. Equus II is a
business development company and seeks to generate current
distributions of net investment income and long-term capital gains
by making equity-oriented investments in small to medium-sized
privately owned companies. The current portfolio consists of
investments in 14 businesses in various industries and 2 venture
capital funds. Information on Equus II Incorporated and other Equus
entities may be obtained on the Internet. Our home page address is
http://www.equuscap.com/ . "Safe Harbor" Statement Under the
Private Securities Litigation Reform Act of 1995: This press
release contains certain forward-looking statements which involve
known and unknown risks, uncertainties or other factors not under
the Company's control which may cause the actual results,
performance or achievement of the Company to be materially
different from the results, performance or other expectations
implied by these forward-looking statements. These factors include,
but are not limited to, those disclosed in the Company's periodic
filings with the Securities and Exchange Commission. CONTACT: Hank
Nicodemus (713) 529-0900 DATASOURCE: Equus II Incorporated CONTACT:
Hank Nicodemus of Equus II Incorporated, +1-713-529-0900 Web site:
http://www.equuscap.com/
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