DGAP-News: Ventizz Capital Partners AG: Ventizz initiates sale of technology company Exceet to Helikos
(firmenpresse) - DGAP-News: Ventizz Capital Partners AG / Key word(s): Private
Equity/Offer
Ventizz Capital Partners AG: Ventizz initiates sale of technology
company Exceet to Helikos
07.06.2011 / 08:25
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Ventizz initiates sale of technology company Exceet to Helikos
- Ventizz Capital Fund III has been developing Exceet, the Swiss
specialist in electronic security solutions, through a Buy and Build
strategy since 2006
- Planned acquisition by Helikos for EUR 110.5m in cash, ca. 3.1 million
new Helikos shares and 9 million convertible Helikos shares
- Helikos investors to vote on the purchase on 1st July 2011
- Ventizz Managing Partner Willi Mannheims: 'Exceet is an extremely
attractive growth story. The company has always posted a solid
financial performance, even during the downturn.'
Düsseldorf - 7 June 2011. Ventizz Capital Fund III, L.P. and several
minority shareholders have entered into a share price agreement with
Helikos SE, a special purpose acquisition company (SPAC) listed on the
regulated market (Prime Standard) of the Frankfurt stock exchange, to
purchase all the shares of Exceet Group AG. The purchase is still subject
to several conditions including approval by Helikos shareholders. The
proposal will be presented to Helikos shareholders at an extraordinary
general meeting on 1st July 2011.
A purchase price of EUR 110.5m cash has been agreed with Helikos for the
technology company, plus ca. 3.1 million newly-issued Helikos shares and 9
million Helikos earn-out shares. These 9 million shares shall be
convertible into Helikos public shares in three equal tranches in the event
of reaching the agreed share price thresholds of EUR 12, EUR 13 and EUR 15.
Upon the successful completion of the transaction Helikos, as new holding
company of Exceet Group AG, will be renamed and going forward will operate
as exceet Group SE on the Frankfurt Prime Standard.
Headquartered in St. Gallen, Switzerland, Exceet Group AG specialises in
customised electronic hardware and software solutions for safety-critical
applications. The company designs, develops and produces high-quality,
bespoke components and solutions for blue chip customers in the fields of
medical and healthcare, automation, financial services, security, avionics
and transportation. Its product portfolio covers complex electronic
modules, systems and solutions that are produced in relatively small and
medium quantities. Exceet's sound M&A track record makes the company a
'tech cluster' which is able to serve its clients with the entire value
chain from conception, application and process development to after sales
and lifecycle management services. In 2010, on a converted-to-euro basis,
Exceet generated sales of EUR 119.7m, an increase of over 50% (of which 20
percentage points represent organic growth) compared to the previous year,
and more than doubled earnings (EBITDA) from EUR 7.0m in 2009 to EUR 17.7m
in 2010.
Ventizz Capital Fund III, L.P. has held a stake in Exceet Group's companies
since 2006 and has contributed to the technology company's growth
significantly. According to Willi Mannheims, Managing Partner of Ventizz
Capital Partners: 'Since the beginning of our relationship with Exceet five
years ago the company has been able to establish itself as a leader in
several market segments. Exceet has posted a solid financial performance
even during the downturn of the financial crisis.' He continued: 'Exceet is
an extremely attractive growth story. We are convinced that the company
will continue to follow the path to success and as such we would like to
remain a constructive shareholder. The crucial factor for the sale is that
we have been able to broaden the shareholder base and have provided the
company with access to additional capital.'
If the planned merger is implemented and there is no Helikos share buyback,
then Ventizz Capital Fund III will hold on to 10.6% of the public shares in
Helikos following the transaction. 1.6% of the public shares will be held
by the Exceet management and 8.4% by the Helikos founders. Following the
transaction, the free float of public shares will be 79.4%. If the earn-out
shares and convertible shares of the Helikos founders are converted into
public shares then this will alter the shareholder structure.
More details on the transaction can be found at www.helikosgroup.com.
Company profiles
About Ventizz Capital Partners
Ventizz Capital Partners was set up in 2000 and has offices in St. Gallen,
Düsseldorf, Zürich and Vienna. Ventizz Capital Partners advises solely
Ventizz Private Equity funds which provide equity capital for growth in
high tech companies predominantly in the German-speaking region. Four
partners and a team of a further 15 professionals currently advise four
funds with a total capital volume of EUR 675m. The Ventizz Capital Fund IV
L.P. is the largest of the four hitherto issued funds. The fund was closed
at the end of 2007 after a mere six month fundraising process which raised
EUR 450m, making it one of the biggest private equity funds in the area of
growth capital and mid-size tech buyouts in the German-speaking region.
Ventizz funds have to date invested in 35 companies with a focus on the
areas of renewable energy, medical technology, information and
communication technology, and other industry sectors with high added value.
In addition to many trade sales, Ventizz has successfully brought three
portfolio companies (ersol, SAR, PV Crystalox Solar) to the stock market.
Website: www.ventizz.com
About Exceet Group AG
Headquartered in St. Gallen, Switzerland, Exceet Group AG is a leading
provider of embedded intelligent electronics and card-based security
technology. It offers embedded electronic products, smart card and
reader-based solutions, and embedded security solutions. The company has
production centres in Germany, the Netherlands, Austria, Switzerland and
the Czech Republic. Its customers come from the fields of medical and
healthcare, industrial automation, financial services, security, avionics,
transportation and public administration with individualised electronics
and security solutions.
Website: www.exceet.ch
About Helikos SE
Helikos is a special purpose acquisition company (SPAC) established for the
sole purpose of acquiring companies. Its intention is to identify 'Hidden
Champions' with solid fundamentals and to work together with existing
shareholders and management in order to facilitate further growth.
Helikos raised EUR 200m in February 2010 from German and international
institutional investors and has been listed since then on the Prime
Standard of the Frankfurt Stock Exchange. Helikos was founded by Wendel SA,
Paris, a European-listed family company with more than 300 years of history
and a 30-year track record of successful industrial investments; Prof. Dr.
Dr. h.c. Hermann Simon, founder and Chairman of Simon-Kucher&Partners
Strategy and Marketing Consultants, a leading global consultancy
established in 1985 in Bonn, Germany; and Roland Lienau, Managing Director
of Wendel, a member of Wendel's investment committee and former co-head of
the German Equity Capital Markets division at Deutsche Bank AG.
Website: www.helikosgroup.com
Press Contact
CNC AG
Markus Wieser
Tel.: +49. 89. 599 458 114
E-Mail: Markus.Wieser(at)cnc-communications.com
End of financial news
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127681 07.06.2011
Datum: 07.06.2011 - 08:25 Uhr
Sprache: Deutsch
News-ID 34323
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