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Article: Industri Kapital boosts fundraising effort with partial exit.
- Article from:
- Financial News
- Article date:
- July 23, 2003
CopyrightCOPYRIGHT 2003 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Caroline Meehan
Industri Kapital, the Nordic-based private equity firm, has cheered potential investors by returning money via a [euro]135m ($154m) recapitalisation on Fives-Lille, a French engineering company.Jean-Baptiste Wautier, a managing director of the French team, said the recapitalisation had not been planned when the firm took Fives-Lille private in June 2001. The company had a market cap of [euro]235m at the time.
He said the substantial debt reduction had generated a return for investors, and took the pressure off Industri Kapital to exit in the near future. The company would probably work towards an exit in three years time, he ...