Guernsey, 26 September 2016
NAV increases by 2.1%
· Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") increases by 2.1% to EUR 9.99 per share
· Overall portfolio developments (+2.3%) were positive while currency movements were neutral
· Princess received distributions of EUR 13.4 million from exited investments and invested EUR 3.6 million
Portfolio companies VAT Group AG and Action were the two largest value drivers. Following its IPO in April 2016 at CHF 45.00 per share, VAT Group AG's share price continued to develop positively, closing the month at CHF 74.70 per share (+15.3% for August).
Princess received proceeds of EUR 5.3 million following the repayment of Partners Group's mezzanine debt financing to Essmann, a manufacturer of light domes, continuous roof lights, smoke and heat extractors as well as ventilation equipment. Founded in 1948 and based in Germany, the company employs approximately 900 people and also offers engineering consulting, maintenance and repair services to its clients. Since Partners Group invested in the company in May 2007, the investment has returned a multiple of 2.37x cost. The remaining proceeds of EUR 8.1 million came predominantly from the legacy third party fund portfolio.
Princess invested a total of EUR 3.6 million during the month, of which EUR 3.5 million was allocated to Polyconcept, a global supplier of promotional products. The company's key markets are North America and Europe where it provides a wide range of custom decorated goods such as drink-ware, electronics, stationery and premium apparel. Founded in 1973, Polyconcept has established a leading market position within the highly fragmented promotional products market. The company's revenues are well-diversified across customers, suppliers, price points and geographies. Looking ahead, the management team will continue to expand the business globally, building on their track record of success and tapping into new opportunities for growth.
Further information is available in the monthly report which can be accessed via: http://www.princess-privateequity.net/financialreports.
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 over EUR 49 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.
Princess Private Equity Holding Limited:
Registered Number: 35241
Investor relations contact
Phone: +44 (0)20 7575 2771
Email: [email protected]
Media relations contact
Phone: +41 41 784 65 26
Email: [email protected]
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