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Article: European Capital Realises 53% Equity Return from Sale of Portfolio Company Avery Weigh-Tronix.
- Article from:
- PR Newswire
- Article date:
- September 26, 2008
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ST. PETER PORT, Guernsey, Sept. 26 /PRNewswire-FirstCall/ -- European Capital Limited ("European Capital") announced today that it realised a 53% annual equity rate of return from the sale of its portfolio company Avery Weigh-Tronix Holdings Limited ("Avery") to Illinois Tool Works Inc. . The European Capital proceeds exceeded the second quarter 2008 valuation of its holding by euro 2 million, or 5%.
European Capital acquired Avery in July 2006 in a One Stop Buyout(TM), investing euro 123 million in a revolving credit facility, senior term debt, subordinated debt, loan equity, preference equity and common equity. In 2007, European Capital partially exited its ...