ICG Enterprise Trust Icg Enterprise Trust Plc: Portfolio Update - Icg Enterprise Trust Makes Two New Direct Investments
November 25 2022 - 2:00AM
UK Regulatory
TIDMICGT
ICG Enterprise Trust plc
25 November 2022
Portfolio Update
ICG Enterprise Trust makes two new direct investments
ICG Enterprise Trust plc (ICGT) is pleased to announce that it
has recently made two new direct co-investments:
Gateway Services: direct co-investment alongside ICG
ICGT has made an investment in Gateway Services (Gateway). This
follows a number of successful investments by ICGT in the pet care
sector, which has benefited from significant secular growth trends
over the last decade.
Gateway is a market leader in its sub-sector, operating a
network of pet crematoria and pet cemeteries across over 150
locations in 40 US states and four Canadian provinces. The Company
has a diverse customer base with a focus on veterinary clinics and
pet hospitals. Gateway intends to continue its strategy of
acquiring and partnering with other companies in the sector across
the US and Canada.
In aggregate, on a look-through basis, ICGT is expected to
invest approximately $9.0m (GBP7.9m) in Gateway. This figure
relates to ICGT's look-through position in the overall investment
into Gateway and is stated before any closing adjustments.
Vistage Worldwide: direct co-investment alongside Gridiron
ICGT has made a $5.0m (GBP4.2m) follow-on co-investment
alongside Gridiron Capital Fund V in Vistage Worldwide (Vistage).
This is a follow-on to our co-investment in Vistage in August 2022
taking our total co-investment in Vistage to $10.0m (GBP8.3m).
Headquartered in San Diego, California, Vistage is the world's
largest executive coaching organisation for small and medium sized
businesses, operating for over 65 years with over 28,000 members.
Vistage provides a bundled subscription that includes peer advisory
meetings, one-on-one coaching, access to speakers and events, and
online content.
At 31 July 2022, four companies managed by Gridiron were amongst
ICGT's 30 largest company exposures and collectively accounted for
4.5% of the Portfolio value: Leaf Home Solutions (6th largest
exposure), AML RightSource (10th largest exposure), Class Valuation
(24th largest exposure) and Travel Nurse Across America (30th
largest exposure).
Enquiries
Analyst / Investor enquiries: +44 (0) 20 3545 2000
Oliver Gardey, Head of Private Equity Fund Investments, ICG
Colm Walsh, Managing Director, ICG
Chris Hunt, Head of Shareholder Relations, ICG
Livia Bridgman Baker, Shareholder Relations, ICG
Media:
Clare Glynn, Corporate Communications, ICG: +44 (0) 20 3545
1395
Website:
www.icg-enterprise.co.uk
About ICG Enterprise Trust
ICG Enterprise Trust is a leading listed private equity investor
focused on creating long-term growth by delivering consistently
strong returns through selectively investing in profitable private
companies, primarily in Europe and the US.
As a listed private equity investor, our purpose is to provide
shareholders with access to the attractive long-term returns
generated by investing in private companies, with the added benefit
of daily liquidity.
We invest in companies directly and through funds managed by ICG
and other leading private equity managers who focus on creating
long-term value and building sustainable growth through active
management and strategic change.
We have a long track record of delivering strong returns through
a flexible mandate and highly selective approach that strikes the
right balance between concentration and diversification, risk and
reward.
Disclaimer
This report may contain forward looking statements. These
written materials are not an offer of securities for sale in the
United States. Securities may not be offered or sold in the United
States absent registration under the US Securities Act of 1933, as
amended, or an exemption therefrom. The issuer has not and does not
intend to register any securities under the US Securities Act of
1933, as amended, and does not intend to offer any securities to
the public in the United States. No money, securities or other
consideration from any person inside the United States is being
solicited and, if sent in response to the information contained in
these written materials, will not be accepted.
Although this investment does not amount to price sensitive
material information, ICG Enterprise Trust is making this
information public on an illustrative basis to aid with market
understanding of our portfolio. Similar announcements may be made
in respect of future non-material investments.
(END) Dow Jones Newswires
November 25, 2022 02:00 ET (07:00 GMT)
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