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News Release from: Avery Weigh-Tronix
Edited by the Manufacturingtalk Editorial
Team on 04 August 2006
Avery Weigh-Tronix Holdings bought by
SICAR
European Capital SICAR has invested EUR 123 million (US$157million) in a 'one stop' buyout of Avery Weigh-Tronix Holdings, a leading designer and manufacturer of weighing equipment.
European Capital SICAR has invested EUR 123 million (US$157million) in the 'One Stop Buyout' of Avery Weigh-Tronix Holdings, a leading designer and manufacturer of weighing equipment and systems to industrial and food retail customers worldwide "We are pleased to announce the 'One Stop Buyout' of Avery Weigh-Tronix, the first buyout completed by European Capital's London office," said Ira Wagner, president of European Capital Financial Services, the sub-investment manager of European Capital
This article was originally published on Manufacturingtalk on 25 Jul 2007 at 8.00am (UK)
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"Avery Weigh-Tronix is one of only a few global competitors in the marketplace, holding a leading share in the core stable UK and US weighing markets and in most of the niches in which it participates," said Simon Henderson, European Capital managing director.
"This makes Avery an especially appealing investment opportunity for European Capital." Giles Cheek, European Capital director, said: "Avery Weigh-Tronix has developed a strong reputation for high quality products and premier customer service together with longstanding customer relationships across a variety of industries and geographies.
We are looking forward to working with management to build on those relationships and supporting the company through the next stage of its development." Avery Weigh-Tronix designs and manufactures weighing products and systems and provides aftermarket services to industrial and food retail customers worldwide.
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Headquartered in Birmingham, UK, the Company also provides aftermarket support services for its weighing products through one of the industry's largest accredited service networks of over 1,000 global service technicians and over 400 distributor locations to an installed base of nearly 750,000 units.
"European Capital is precisely the investment partner we need to move forward with our growth plans.
This new partnership will add great value to Avery Weigh-Tronix in the near future and will better position us to excel in our target markets," said Avery Weigh-Tronix chief executive officer Gerald Bowe.
"We are looking forward to continuing to serve our customers with world-class products that can be tailored and combined with a systems package to suit their specific requirements." * About Avery Weigh-Tronix - Avery Weigh-Tronix and its predecessors have operated since 1731 under several of the weight products and systems industry's most respected brand names, including Avery Weigh-Tronix, Salter Brecknell, Dillon, Avery Berkel and Berkel.
Today, Avery Weigh-Tronix's industrial products include weighbridges, platform or deck scales, load cells, weigh bars, indicators and supporting software that serve customers in a variety of end markets, including logistics and transportation, food processing, waste management, agriculture and general manufacturing.
Avery Weigh-Tronix's food retail products consist of assorted types of PC-based, analog, checkout and printing scales, slicers and supporting software that are used by major supermarket chains and grocery, convenience and specialty food stores.
* About European Capital - European Capital has invested EUR 831 million (US$1 billion) in 27 companies since its formation in August of 2005.
It is a buyout and mezzanine fund with capital resources of EUR 1.1 billion (US$1.3 billion).
European Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts and provides capital directly to private and mid-sized public companies.
European Capital invests from EUR 5 million to EUR 125 million per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.
The Company delighted with the progress made by both the Paris and London offices of European Capital.
The Avery transaction is the third 'One Stop Buyout' for European Capital, again demonstrating our ability to invest throughout the entire capital structure of a buyout transaction.
Companies interested in learning more about European Capital's flexible financing should contact Simon Henderson or Nathalie Faure Beaulieu at www.EuropeanCapital.com.
* About American Capital - American Capital Strategies (Nasdaq: ACAS), an affiliate of European Capital, is a publicly traded buyout and mezzanine fund with capital resources of approximately US$8.4 billion.
American Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts, provides capital directly to early stage and mature private and small public companies and through its asset management business is a manager of debt and equity investments in private companies.
American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations.
American Capital invests up to US$350 million per company.
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