APL Acp Capital

RNS Number:6882O
ACP Mezzanine Ltd
28 December 2006


28 December 2006

ACP Mezzanine Limited ("ACP Mezzanine" or "The Company") - Underwrites Euro100m 
debt package for Nordsee GmbH ("Nordsee")


ACP Mezzanine, a closed-ended limited liability investment company incorporated
in Jersey, which is focused primarily on mezzanine lending in the Continental
European small and mid-cap sector, announces that the Company has underwritten a
debt package for Nordsee, Europe's largest fish speciality restaurant chain. The
transaction, totalling Euro100m, represents the Company's first underwriting
transaction since its listing in July 2006 and demonstrates ACP Mezzanine's
ability to rapidly and competitively take advantage of an integrated finance
strategy alongside ACP Capital Limited. ACP Capital Limited will also
participate in the debt package.

The debt package contains Euro80m of senior debt and in addition, ACP Mezzanine
will extend the maturity of its current junior and senior mezzanine tranches of
Euro10m each to the end of June 2007. The debt package is linked to IFR Capital's
announced acquisition of Kamps Food Retail Investments S.A. ("KFRI"), the owner
of Nordsee.

Jeff Bennett, Chief Investment Officer for ACP Mezzanine said:

"This transaction takes ACP Mezzanine to a new level and proves its abilities to
provide full integrated finance by using its balance sheet in an effective way.
Furthermore, the Nordsee financing is a good example of how ACP Capital can
originate attractive investment opportunities for ACP Mezzanine."


For further information:

Redleaf Communications
Rob Bain                                             +44 20 7822 0200

ACP Mezzanine Limited
Jeff Bennett                                         +44 20 7082 3930


Notes to Editors:

ACP Mezzanine Limited

ACP Mezzanine Limited is a Jersey-incorporated company which listed on AIM in
July 2006 and whose strategy is to pursue 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 a
subsidiary of ACP Capital through an Investment Management Agreement. 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 through a syndication process.

ACP Mezzanine lends primarily across Europe, with origination arising through a
direct integrated finance approach alongside ACP Capital's strategic platforms
and managed vehicles, and, to a lesser extent, purchases assets in the secondary
market if the expected risk adjusted returns are attractive. It is expected that
the integrated finance approach will account for at least two thirds of ACP
Mezzanine's investments over time.

ACP Mezzanine's Board includes Derek Vago, Jeff Bennett, Christophe Tanghe and 2
other Non-Executive Directors. In addition, Wolfgang Mellinghof is expected to
be appointed to the Board in the near future.


Kamps Food Retail Investments S.A./Nordsee GmbH

KFRI was founded in 2005 by Heiner Kamps and subsequently acquired Nordsee,
Europe's largest fish-restaurant chain and the number one non-burger fast food
chain in Germany and Austria.  Heiner Kamps and ACP Capital are significant
shareholders in KFRI.

As at 30 April 2006, Nordsee operated 414 outlets throughout Germany, Austria,
Switzerland, Slovenia and the Czech Republic, primary located in pedestrian
areas, shopping malls, train stations, and airports

     -    374 stores; and

     -    40 franchised stores.

     -    It has a unique brand enjoying 90% brand recognition in the markets in
          which it operates

     -    90 million yearly customers.

The business focuses on three types of shops:

     -    184 Sea-Buffet Stores, accounting for c. 48% of sales for FY2005 (Year
          end September) offering in-store consumption meals and take-away 
          snacks;

     -    212 Restaurants, accounting for c. 43% of sales for FY2005, offering 
          in-store consumption meals and take away snacks; and

     -    18 Snack Shops, accounting for c. 2% of sales for FY2005, mainly 
          offering take-away snacks.

In Austria Nordsee operates the largest wholesaler specialising in fresh fish
distribution (Cerny & Nordsee AG)

     -    Accounting for c. 7% of sales for FY2005.


IFR Capital Plc

IFR Capital Plc ("IFRC"), which was admitted to the AIM list of the London Stock
exchange in a circa Euro135m flotation in November 2006, has been established to
act as an acquisition platform intending to target small and mid-sized
businesses in the continental European food industry, within three sub-sectors:
retail (mainly shops/restaurants), industry (wholesale and production) and
distribution. IFRC will firstly focus on the retail and industry segments as the
Directors of the Company believe that these areas offer an initial opportunity
for achieving synergies and shareholder returns. The Directors believe that the
distribution segment of the industry is to be relevant but only once IFRC has
reached a certain scale.

The Directors believe there is a unique consolidation opportunity in the food
retail sector in Continental Europe, and especially Germany, and anticipate a
need for cross border consolidation with an increasing focus on brands and
chains. At the same time, the Directors believe that the succession problems for
many small and mid sized companies may lead to a number of potential acquisition
opportunities. The Directors believe that Heiner Kamps with his track record
will be viewed positively as an entrepreneur within the food industry,
especially as the Directors believe that there is a hesitant view both among
owners and managers of small and medium-sized enterprises towards private equity
investment companies. As such, the Directors believe that IFRC has an
opportunity to approach various targets in Germany 'off the market'.


ACP Capital Limited

ACP Capital is a Jersey-incorporated niche integrated finance provider
specialising in the European SME market whose shares were admitted to trading on
AIM in January 2006. As an integrated finance specialist, ACP Capital can offer
a combination of equity, mezzanine and senior debt to companies in niche
markets, such as the German "Mittelstand" (small and middle-sized
privately-owned companies), and for asset backed transactions, for example, in
the real estate and infrastructure sectors.

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.

ACP Capital's strategy is to develop strong synergies between its broad funding
capabilities and its various managed vehicles, providing optimal financing
solutions to its clients while securing a strong flow of recurring revenue for
its core business.

ACP Capital's CEO is Derek Vago, who is assisted on the Board by Heiner Kamps,
Francois Georges and Alan Braxton (as well as 2 other Non-Executive Directors).
In addition, Nikolaj Larsen (Head of Strategic Investments) and Eric Youngblood
(CFO) have recently been appointed to the Board. A further key team member is
Jeff Bennett, who is the Group's Chief Investment Officer for ACP Mezzanine.

For more information please see www.acpcapital.com


                                     Ends.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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