Princess Private Equity Holding Ltd NAV increases by 1.6% (0683M)
July 26 2017 - 2:00AM
UK Regulatory
TIDMPEY
RNS Number : 0683M
Princess Private Equity Holding Ltd
26 July 2017
News Release
Guernsey, 26 July 2017
NAV increases by 1.6%
-- Princess Private Equity Holding Limited's ("Princess") net
asset value increased by 1.6% to EUR 10.77 per share
-- Currency movements (-0.2%) were negative and overall
portfolio developments (+2.1%) were positive
-- Princess received distributions of EUR 5.0 million and
invested EUR 5.8 million over the reporting period
In June, Princess' NAV benefited from the quarterly revaluation
of its direct investment portfolio. The portfolio companies
Permotio International Learning ("Permotio"), Dynacast and
KinderCare Education were among the largest value drivers. Permotio
continued to execute its business plan to create a leading
international private schools group through a "buy and build"
strategy, achieving significantly higher revenue and EBITDA
compared to the previous year. Dynacast, a global manufacturer of
customized and highly engineered metal components, reported
increased EBITDA and revenues figures following its acquisition of
Signicast in March 2017. In particular, Dynacast's operations in
Asia and Europe performed well, driven by strong demand across
multiple industries. KinderCare Education reported higher student
occupancy rates during the quarter. Partners Group continues to
work closely with KinderCare Education on a number of strategic
initiatives, including an analysis of demographic trends to
identify potential sites for new center openings.
Princess received distributions of EUR 5.0 million during the
month, including a total of EUR 0.9 million from the partial sale
of shares in Black Knight Financial Services (BKFS), a provider of
integrated technology, services, data and analytics to lenders and
servicers in the mortgage industry. In December 2013, Princess
invested in the merger of two companies, Lender Processing Services
and ServiceLink, to create BKFS. The company was subsequently
restructured in June 2014 into two operating subsidiaries,
ServiceLink, which remained private and BKFS which was listed on
the New York Stock Exchange. The remaining distributions of EUR 4.1
million came predominantly from Princess' mature legacy fund
portfolio.
Princess invested a total of EUR 5.8 million during the month.
Princess provided EUR 0.9 million of follow-on equity to Partners
Group Pacific Restaurant Holdings as part of a wider financing
round to support, among others, the company's acquisition of
Consolidated Wings, a group of 17 Buffalo Wild Wings (BWW)
restaurants in Indiana. The addition of Consolidated Wings will
create the largest BWW franchise in the US. For the last twelve
months ended 30 April 2017, Partners Group Pacific Restaurant
Holdings reported growth in revenue and adjusted EBITDA of 21.1%
and 22.4% respectively. Princess provided a total of EUR 4.2
million debt financing to a European security company in support of
a private equity sponsor's acquisition of the company. European
Security Company operates within the identity and security
industry, and its solutions allow end-users to connect,
authenticate and make payment.
Further information is available in the monthly report which can
be accessed via:
http://www.princess-privateequity.net/financialreports.
Ends.
About Princess
Princess is an investment holding company founded in 1999 and
domiciled in Guernsey. It invests, inter alia, in private equity
and private debt investments. Princess is advised in its investment
activities by Partners Group, a global private markets investment
management firm with EUR 58 billion in investment programs under
management in private equity, private debt, private real estate and
private infrastructure. Princess aims to provide shareholders with
long-term capital growth and an attractive dividend yield. Princess
is traded on the London Stock Exchange (ticker symbol: PEY).
Further information: www.princess-privateequity.net.
Contacts
Princess Private Equity Holding Limited:
princess@partnersgroup.com
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
Email: george.crowe@partnersgroup.com
Media relations contact
Jenny Blinch
Phone: +41 41 784 65 26
Email: jenny.blinch@partnersgroup.com
www.partnersgroup.com
This document does not constitute an offer to sell or a
solicitation of an offer to buy or subscribe for any securities and
neither is it intended to be an investment advertisement or sales
instrument of Princess. The distribution of this document may be
restricted by law in certain jurisdictions. Persons into whose
possession this document comes must inform themselves about, and
observe any such restrictions on the distribution of this document.
In particular, this document and the information contained therein
are not for distribution or publication, neither directly nor
indirectly, in or into the United States of America, Canada,
Australia or Japan.
This document may have been prepared using financial information
contained in the books and records of the product described herein
as of the reporting date. This information is believed to be
accurate but has not been audited by any third party. This document
may describe past performance, which may not be indicative of
future results. No liability is accepted for any actions taken on
the basis of the information provided in this document. Neither the
contents of Princess' website nor the contents of any website
accessible from hyperlinks on Princess' website (or any other
website) is incorporated into, or forms part of, this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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