European Capital Receives Proceeds Of €14 Million From Tokheim

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ST. PETER PORT, Guernsey, July 13, 2012 /PRNewswire/ -- European Capital Limited ("European Capital") announced today that an affiliate has received proceeds of €14 million from exiting its investments in Tokheim Holding and a subsidiary.

Tokheim, based in Paris, France, is one of the world's leading manufacturers and service providers of fuel dispensing and retail automation equipment. With operations in many countries around the globe, Tokheim offers customers a complete range of fuel dispensers and pumps, retail automation systems, payment terminals, media devices, replacement parts and upgrade kits, and a full range of support services, including maintenance, service station construction and project management.

In January 2006, European Capital invested €14 million to support the secondary buyout of Tokheim by Cognetas, including €7 million in the second lien facility and €7 million in the mezzanine facility. In July 2007, the Company repaid the mezzanine and convertible bonds through additional senior and second lien facilities, and European Capital subsequently reinvested €7 million in the second lien facility.

European Capital's exit comes as Tokheim and its majority shareholder, Motion Equity Partners (previously known as Cognetas), have completed an all senior refinancing of the Company, reducing its leverage and extending the maturity of its debt until 2019. At the same time, Motion Equity Partners, together with a new minority shareholder (FSI, Fonds Strategique d'Investissement), have brought approximately €80 million of additional equity to support further the strategy and continued growth of the company.

"We are very pleased to have supported Tokheim growing internationally over the past six years," said Tristan Parisot, Managing Director of European Capital Services. "As a unique worldwide leader in the highly attractive energy sector, led by a strong management team, Tokheim perfectly illustrates the kind of business we like."

Since its inception, European Capital has invested €3.4 billion in 100 companies. European Capital will consider mezzanine, unitranche and equity investment opportunities from €10 million to €100 million.

ABOUT EUROPEAN CAPITAL

European Capital is an investment company for pan-European equity, mezzanine and senior debt investments with €1.2 billion in assets under management. European Capital is a wholly-owned affiliate of American Capital, Ltd. ("American Capital"). European Capital is managed by European Capital Financial Services (Guernsey), a wholly-owned affiliate of American Capital, and its subsidiary and sub‑investment manager, European Capital Financial Services. European Capital Financial Services has offices in London and Paris. As of 31 March 2012, European Capital Financial Services had 5 investment teams with 20 investment professionals and employed 26 support staff. European Capital and its affiliates will consider senior and mezzanine debt investment opportunities from 10 million to 40 million in either euros or sterling and up to 100 million for One Stop Buyouts®. For further information, please refer to www.EuropeanCapital.com.

ABOUT AMERICAN CAPITAL

American Capital is a publicly traded private equity firm and global asset manager.  American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products.  American Capital has $101 billion in assets under management and seven offices in the U.S. and Europe.  American Capital and its affiliates will consider investment opportunities up to $500 million.  For further information, please refer to www.AmericanCapital.com.

SOURCE European Capital Limited