JZ Capital Ptnrs Ltd JZ Capital Realises Two U.S. Micro-Cap Investments
October 31 2017 - 2:00AM
UK Regulatory
TIDMJZCP TIDMJZCC TIDMJZCN
JZ Capital Partners Ltd
JZ CAPITAL REALISES TWO U.S. MICRO-CAP INVESTMENTS FOR A TOTAL GROSS VALUE OF
$39.9 MILLION
Realisations represent a cumulative $13.4 million uplift to NAV
31 October 2017
JZ Capital Partners Limited (LSE:JZCP.L "JZCP" or the "Company"), the London
listed fund that invests in US and European micro-cap companies and US real
estate, has realised two of its US micro-cap investments, Nielsen-Kellerman
("NK") and K2 Towers ("K2"), for a total gross value of $39.9 million,
representing a cumulative $13.4 million uplift to JZCP's net asset value
("NAV") as of 31 August 2017.
K2 Towers
K2 was founded in 2009 and specialises in acquiring and maintaining wireless
communication towers, with portfolios stretching throughout the United States
and Puerto Rico.
JZCP expects to receive total proceeds of $31.3 million from the sale of K2 to
a strategic buyer, representing an overall gross multiple of invested capital
of 1.5x and a gross internal rate of return of 17.6% in just over two years.
Nielsen Kellerman
Established in 1978, NK is a designer, manufacturer and distributer of rugged,
waterproof environmental and sports performance instruments for active
lifestyles and technical applications.
Having first invested in NK in December 2010, JZCP received proceeds of $8.6
million from the sale, representing a realised gross multiple of invested
capital of 3.3x and a realised gross IRR of 19.2%.
David Zalaznick, JZCP's Founder and Investment Adviser, commented: "We are
pleased with the successful outcome of both investments. The combined uplift of
$13.4 million in these two realisations demonstrates the soundness of the
Company's NAV and our ability to achieve realisations above the current
valuations in the NAV."
Ends
For further information:
Ed Berry / Kit Dunford +44 (0) 20 3727 1143
FTI Consulting
David Zalaznick +1 212 485 9410
Jordan/Zalaznick Advisers, Inc.
Rebecca Booth +44 (0) 1481 745189
JZ Capital Partners
About JZCP
JZ Capital Partners ("JZCP") is one of the oldest closed-end investment
companies listed on the London Stock Exchange. It seeks to provide shareholders
with a return by investing selectively in US and European microcap companies
and US real estate. JZCP receives investment advice from Jordan/Zalaznick
Advisers, Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They
have worked together for more than 35 years and are supported by teams of
investment professionals in New York, Chicago, London and Madrid. JZAI's
experts work with the existing management of micro-cap companies to help build
better businesses, create value and deliver strong returns for investors. For
more information please visit www.jzcp.com.
END
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