Paris, 7 July 2015 – Altamir is pleased to announce the initial public offering of one of its directly owned portfolio companies, Capio, a leading provider of private healthcare services in Europe. Capio's shares were admitted to trading on the Nasdaq Stockholm exchange on 30 June (ticker: CAPIO).
The SEK 2,334m (approx. €250m) transaction is made up of a SEK 750m (approx. €80m) capital increase and the sale of shares by existing shareholders for SEK 1,584m (approx. €170m). On the basis of an IPO price of €48.5 per share, Capio's market capitalisation represents SEK 6,846m (approx. €740m).
The funds raised will enable Capio to repay part of its debt and finance new investments. These include modernising treatment methods and facilities as well as expanding service offerings in both its historical and new markets.
Altamir sold part of its holding for approximately €9m and holds a 3.3% share in the company's capital post-IPO (excluding the over-allotment option), against 5.5% previously. The sale was based on a valuation equivalent to 1.3 times the last valuation recorded at December 31, 2014.
1 September (post-trading): NAV as of 30 June 2015 and first-half results
4 November (post-trading): NAV as of 30 September 2015
Altamir (Euronext Paris-B, ticker: LTA) is a listed private equity company with more than €550m in assets under management. The company was created twenty years ago as a means for any investor to access private equity, one of the best performing asset classes over the long term.
Altamir invests via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms in their respective markets.
Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation: TMT, Retail & Consumer, Healthcare, Business & Financial Services; 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
Tel: +33 1 53 65 01 74
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