ACP Mezzanine Limited announces that Wolfgang Mellinghoff has joined its board as a Non Executive Director
14 March 2007
ACP Mezzanine Limited (“ACP Mezzanine” or “the Company”), a closed-ended limited liability investment company, which is focused on mezzanine lending in Europe in the small- to mid-cap sector, is pleased to announce that Mr. Wolfgang Mellinghoff has become a Non Executive Director.
As a Non Executive Director, Mr. Wolfgang will use his 20 years of experience as an owner and/or CEO of a variety of German and Austrian “Mittelstand” companies (small and middle sized privately owned companies) to enhance ACP Mezzanine’s origination strategy.
The Company’s investment manager (through a subsidiary) is ACP Capital Limited (AIM: APL), which is currently undergoing a capital raising of circa £150 million, expected to close on 19 March, and which subsequently intends to move to a listing on the main board of the London Stock Exchange.
Derek Vago, CEO of ACP Capital Limited, remarked “We are very pleased to welcome Wolfgang to ACP Mezzanine’s board. His Mittelstand contacts and experience will be a big advantage for ACP Mezzanine as it continues to expand its direct lending capabilities.”.
Enquiries to:
| ACP Capital Limited: | +44 (0)20 7082 3917 |
| Collins Stewart Europe Limited (Nominated Advisor to the Company), Simon Atkinson: |
+44 (0)20 7523 8350 |
"Notes to Editors"
ACP Mezzanine
ACP Mezzanine pursues a primary strategy as a mezzanine lender, originating, structuring and underwriting the majority of its mezzanine investments. ACP Mezzanine’s investment strategy is implemented and managed by ACP Capital Limited, through a subsidiary. ACP Mezzanine’s strategy is different from that followed by a number of participants in the Mezzanine financing market, which focus on acquiring assets directly from third parties though a syndication process.
ACP Mezzanine invests in assets located primarily across Europe originated through a direct integrated finance approach alongside ACP Capital’s Strategic Platforms and Vehicles, and, to a lesser extent, purchases assets in the secondary market if expected risk adjusted returns are attractive. It is intended that the integrated finance approach will account for at least two thirds of ACP Mezzanine’s investments.
ACP Mezzanine’s partnership with ACP Capital has the objective of delivering a complete financing solution for prospective borrowers. Pursuant to this strategy, ACP Capital Limited would provide senior debt and, in some cases, equity funding, while ACPM would provide the mezzanine financing. ACPM intends to pursue this strategy with ACP Capital Limited in niche markets where ACP Capital considers there to be an integrated finance opportunity, such as the German “Mittelstand” (small and middle-sized privately-owned companies).
ACP Capital Ltd ("ACP")
ACP Capital is a Jersey-incorporated specialized integrated finance and asset management company focusing on both the asset-backed and non asset-backed sectors in the European small and mid-sized enterprise (SME) market. The company’s shares were admitted to trading on AiM in January 2006, raising approximately £50m before costs, followed by a further £15m share placing in December 2006. In February 2007, the company announced its intention to pursue a further capital raise in the region of £150m in 2007 in order to finance its intended development plans, including the development of additional funding lines, managed vehicles and strategic platforms (as announced 6 February 2007).
As an integrated finance specialist, ACP Capital offers a combination of equity, mezzanine and senior debt to companies in niche markets, such as the German "Mittelstand" (small and middlesized privately-owned companies), and for asset backed transactions, for example, in the real estate and infrastructure sectors. The company intends to put in place levered loan and noninvestment grade funding vehicles in order to complement its current product base with a view to providing financing solutions across the capital structure.
As an asset manager, ACP Capital manages a series of investment vehicles that can provide the required funding for its integrated finance capabilities. ACP Capital intends to launch at least 2 managed vehicles each year in specific sectors in its target markets. These managed vehicles are intended to take advantage of the planned flow of asset opportunities from the expansion of the company’s funding capabilities and strategic platforms. ACP Capital intends to receive management and performance related fees from these vehicles in addition to any share price increase as a strategic equity investor. To date, ACP Capital has launched 2 such vehicles, ACP Mezzanine and IFR Capital.