Over 20% portfolio turnover for Altamir in H1 2016

Paris, 8 June 2016 – Altamir is pleased to announce the closing of four transactions that have stepped up portfolio turnover:

• The €50m¹ investment in Marlink, the commercial satellite communications business spun off by the Airbus Group, of which €18m is invested directly and the remainder via funds[1];

• The €17m1 investment in Sandaya, a French outdoor accommodation group with four- and five-star campgrounds in France and Spain;

• The €93.5m sale of Altamir's investment in Infopro Digital, France's leading provider of professional information services and Altamir's largest investment, representing a multiple of almost three times the amount originally invested;

• The €8.5m in revenue received on preference shares in Maisons du Monde, a former portfolio company, on the occasion of its recent IPO.

These transactions come in addition to those already closed during the first half of 2016:

• Three investments in the TMT sector totalling €88m1: InfoVista, worldwide provider of network performance software solutions; Melita, Malta's leading convergent telecoms network operator; Cabovisão/ONI, Portugal's second-largest cable operator and one of its principal telecoms operators, respectively.

• The partial sale of Altamir's stake in Gfi Informatique, a French IT services company, for €25.2m;

• The sale of its remaining stake in Capio for €21.4m, generating an overall exit multiple of 1.6 times the amount invested;

• The partial sale of its stake in GardaWorld for €2.6m, generating a multiple of 1.5 times the amount invested in 2012;

• The sale of its stake in Rhiag for €1.9m, generating an IRR of 60% and a multiple of 3.3 times the amount invested in 2013.

Following these transactions, closed in the first half of 2016, Altamir's portfolio turnover stands at more than 20%, with investments of around €155m and divestments of €153m.

As a result, the portfolio is now comprised of 38 companies, vs. 36 at end-2015, and has three more companies (in net terms) in the TMT sector.

About Altamir

 

Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with more than €650m in assets under management. Its objective is to provide shareholders with long term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.

Altamir's investment policy is to invest via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.

In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation (TMT, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).

Altamir derives certain tax benefits from its status as an SCR ("Société de Capital Risque"). As such, Altamir is exempt from corporate tax and the company's investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.

For more information: www.altamir.fr

 

Contact

 

Agathe Heinrich

Tel: +33 1 53 65 01 74

E-mail: [email protected]

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