European Capital invests €123 million in ONE STOP BUYOUT™ of Avery Weigh-Tronix.

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• 11th August 2006
• Materials Handling
 

London - August 1, 2006 - European Capital S.A. SICAR announced today it has invested €123 million ($157million) in the One Stop Buyout™ of Avery Weigh-Tronix Holdings Limited, a leading designer and manufacturer of weighing equipment and solutions to industrial and food retail customers worldwide.

"We are pleased to announce the One Stop Buyout™ of Avery Weigh-Tronix, the first buyout completed by European Capital’s London office," said Ira Wagner, President of European Capital Financial Services Limited, the sub-investment manager of European Capital.

"Avery Weigh-Tronix is one of only a few global competitors in the marketplace, holding a leading share in the core stable U.K. and U.S. weighing markets and in most of the niches in which it participates," said Simon Henderson, European Capital Managing Director.    "This makes Avery an especially appealing investment opportunity for European Capital.

"Avery Weigh-Tronix has developed a strong reputation for high quality products and premier customer service together with longstanding customer relationships across a variety of industries and geographies" said Giles Cheek, European Capital Director.  "We are looking forward to working with management to build on those relationships and supporting the company through the next stage of its development"

Avery Weigh-Tronix designs and manufactures weighing products and systems and provides aftermarket services to industrial and food retail customers worldwide.   
Headquartered in Birmingham, UK the Company also provides aftermarket support services for its weighing products through one of the industry’s largest accredited service networks of over 1,000 global service technicians and over 400 distributor locations to an installed base of nearly 750,000 units.

"European Capital is precisely the investment partner we need to move forward with our growth plans.  This new partnership will add great value to Avery Weigh-Tronix in the near future and will better position us to excel in our target markets," said Avery Weigh-Tronix Chief Executive Officer Gerald Bowe.  "We are looking forward to continuing to serve our customers with world-class products that can be tailored and combined with a systems package to suit their specific requirements."

Contact:

Tory Peters
Avery Weigh-Tronix, VP,
Worldwide Marketing Communications                                               
+44 121 568 1660.

David Spencer           
Edson Evers Public Relations
+44 1785 255146

Associated Links

• Hub-4 Profile of Avery Weigh-Tronix
• Avery Weigh-Tronix Company Website