IFR Ifr Capital

RNS Number:0142Y
ACP Mezzanine Ltd
08 June 2007


ACP Mezzanine Limited (AIM: ACPM)

8 June 2007

ACP Mezzanine enters into a commitment to underwrite Euro66 million debt facility
for IFR Capital's acquisition of Homann

ACP Mezzanine Limited ("ACP Mezzanine" or the "Company": ACPM.LN), the
sub-investment grade lender focused on European small and medium sized
enterprises ("SMEs"), today announces it has committed to underwrite Euro66 million
of mezzanine debt for the acquisition by IFR Capital plc ("IFR": IFR.LN) of
Homann Chilled Food GmbH ("Homann"), alongside a senior debt commitment of
Euro149.5 million from ACP Capital Limited ("ACP Capital": APL.LN), as part of an
integrated finance package.

As a result, the Company is on track to meet its performance objectives for the
first half of 2007. The Company is well placed to initiate a secondary equity
offering, which will be launched in the fourth quarter of this year.

Homann is an established and renowned food manufacturer located in Germany's
Dissen/Westphalia region and is a market leader in chilled salads and
convenience products, both in the food retailing and discount distribution
channels. Founded in 1876, Homann has evolved from being a traditional producer
of meat and sausages into a supplier of chilled food.

This participation by ACP Mezzanine follows the announcement on 1 June 2007 of
the acquisition of Homann by IFR, an AIM-listed investment company focused on
consolidation opportunities in the European retail food sector. Homann is IFR's
third acquisition and is closely aligned with IFR's long-term objective of
creating a leading, vertically-integrated food business with a view to acquiring
potentially synergistic businesses to spur its further growth.

ACP Mezzanine has the ability to originate, structure and underwrite the
majority of its own lending book with a view to securing ongoing streams of
income, and acts as the preferred counterparty for mezzanine lending to ACP
Capital's managed vehicles, such as IFR. As part of its stated strategy, ACP
Mezzanine can underwrite up to Euro75 million in a given transaction prior to
syndication, refinancing or sell-down.

This commitment represents the second transaction where ACP Mezzanine and ACP
Capital have both achieved their strategic ambitions of providing a total
funding solution to clients. In December 2006, ACP Mezzanine and ACP Capital
agreed to underwrite a Euro100 million debt package for Nordsee GmbH ("Nordsee"),
Europe's largest fish restaurant chain and premier non-burger fast food chain in
Germany and Austria.


Enquiries:

Simon Atkinson, Collins Stewart Europe Limited
(Nominated Advisor to the Company)                      +44 (0) 20 7523 8350

Rob Bailhache & Nick Henderson, Financial Dynamics      +44 (0) 20 7269 7200
(Media Relations)


For further information on ACP Mezzanine, please visit www.acpcapital.com.


About ACP Mezzanine

ACP Mezzanine Limited (LSE AIM: ACPM) is a Jersey-incorporated company that
listed on AIM in July 2006 after raising Euro100 million. Its strategy is to pursue
opportunities as a mezzanine lender, originating, structuring and underwriting
the majority of its investments. ACP Mezzanine's investment strategy is
implemented and managed by ACP Capital through an Investment Management
Agreement. ACP Mezzanine's strategy is different from that followed by a number
of participants in the mezzanine financing market, which focus on acquiring
assets directly from third parties through a syndication process.

ACP Mezzanine lends primarily across Europe, with origination arising through a
direct integrated finance approach alongside ACP Capital's strategic platforms
and managed vehicles, and, to a lesser extent, purchases of assets in the
secondary market if the expected risk adjusted returns are attractive. It is
expected that the integrated finance approach will account for at least two
thirds of ACP Mezzanine's investments over time.

ACP Mezzanine's Board includes Derek Vago, Christophe Tanghe, Wolfgang
Mellinghof and two other Non-Executive Directors.


About ACP Capital

ACP Capital Limited (LSE AIM: APL) is a Jersey-incorporated specialist
integrated finance and asset management company focusing on both the
asset-backed and non asset-backed sectors in the European small and mid-sized
enterprise (SME) market. The company's shares were admitted to trading on AIM in
January 2006, raising approximately #50m before costs, followed by a further
#15m share placing in December 2006. In March 2007, the company completed a
further #150m capital raising in order to finance its intended development
plans, including the development of additional funding lines, managed vehicles
and strategic platforms to originate loans and assets in Germany, the UK, France
and Italy.

As an integrated finance specialist, ACP Capital offers a combination of equity,
mezzanine and senior debt to companies in niche markets, such as the German
'Mittelstand' (privately-owned SMEs), and for asset-backed transactions in
sectors like real estate and infrastructure. The company intends to put in place
levered loan and non-investment grade funding vehicles in order to complement
its current product base with a view to providing financing solutions across the
capital structure.

As an asset manager, ACP Capital manages a series of investment vehicles that
can provide the required funding for its integrated finance capabilities. ACP
Capital intends to launch at least two managed vehicles each year in specific
sectors in its target markets. These managed vehicles are intended to take
advantage of the planned flow of asset opportunities from the expansion of the
company's funding capabilities and strategic platforms. ACP Capital intends to
receive management and performance-related fees from these vehicles in addition
to any share price increase as a strategic equity investor. To date, ACP Capital
has launched two such vehicles, ACP Mezzanine Limited and IFR Capital plc. On 8
March 2007 ACP Capital announced that it had raised a committed leverage
facility of #125 million with Deutsche Bank for ACP Senior High Yield, a
soon-to-be-launched managed vehicle focusing on the acquisition of European
senior debt assets originated primarily through ACP Capital's SME-focused
integrated finance business, and through the primary and secondary markets.

ACP Capital's Board includes the highly regarded retail entrepreneur, Heiner
Kamps, the Director General of the international real estate investment and
development company Jesta Group, Francois Georges, the Managing Director of the
full service real estate private equity firm Presidio Partners LLC, Alan
Braxton, an Italian certified barrister and Director of Investimente e Sviluppo
S.p.a., Daniele Discepolo, Derek Vago, Eric Youngblood, Nikolaj Larsen and two
other Non-Executive Directors.


About IFR Capital

IFR Capital plc (LSE AIM: IFR) is an acquisition platform targeting small and
medium-sized businesses in the continental European food industry across three
sub-sectors: retail (mainly shops/ restaurants), industry (wholesale and
production), and distribution.

Founded in October 2006 by ACP Capital and food retail entrepreneur Heiner
Kamps, IFR was admitted to trading on AIM in November 2006 after raising
approximately Euro135 million pre costs.

IFR is currently considering various opportunities in the European food sector
with a view to acquiring potentially synergistic businesses that would help
propagate the company's further growth. Further opportunities include the
ongoing expansion of IFR's new premium bakery brand, Bastians, to major European
cities. Further details of these opportunities will be announced as they become
available.

Ultimately, IFR's intended long-term strategy is to create a leading,
vertically-integrated food business with turnover of at least Euro1.5 billion by
2009 and an EBITDA margin of approximately 10%. IFR benefits from the
operational management of Heiner Kamps as well as the broad financing experience
and capabilities of ACP Capital.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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