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ARCHIVE 2006
Successful initial public offering (IPO) of AdEPT
Telecom on the London AIM
London/Zug, 17 February 2006: We are very pleased to announce
the flotation of AdEPT Telecom, one of our portfolio companies,
on the Alternative Investment Market (AIM) of the London Stock
Exchange. Overall a total of 5.8 m common shares at a price of
140 British Pence were placed to institutional and other investors
in the UK and Europe. The net proceeds of EUR 11 m will be used
to repay debt and to finance further acquisitions. The first days
of trading showed a healthy demand and the stock (Ticker: ADT
LN) closed at 160 British Pence, representing a 14 percent increase
over the placing price. The company is currently valued at EUR
49.6 m.
Invision invested as lead-investor in May 2003 in AdEPT Telecom
and held an 18% pre-IPO equity stake. Invision will remain one
of the largest investors in AdEPT Telecom and plans to further
support and back the company.
About AdEPT:
AdEPT is one of the UK's fastest-growing fixed-line operators
and provides fixed-line calls, line rental and broadband to business
and residential customers. Since starting activity in 2003, the
group has acquired 11 smaller companies, taking an average of
six weeks to turn each one around from breakeven to around 20%
EBITDA profitability. AdEPT almost matched its 2004-05 EUR 1.5
million operating profit in the six months to September 30, when
earnings before interest, tax, depreciation and amortisation reached
EUR 1.2 m on turnover of EUR 7 m.
For more detailed information on the company please visit its
website: www.adept-telecom.co.uk
or if you live in the UK and are interested in reducing your telephone
bill please call them directly under 0870 190 9100.
About Invision:
Invision is a leading Swiss based private equity firm investing
primarily in growth companies in Europe. Invision is dedicated
to back entrepreneurs that have the drive and ability to build
world class companies that become a dominant player in their market.
Over the last decade, Invision built up a proven experience of
investing and actively supporting more than 60 companies and an
excellent track record with numerous IPOs trade sales. The investment
activity is focused on information technology, medical technology
and innovative service business. Please visit us at our website:
www.invision.ch.
For further information please contact:
Alexander Weiss or Dr. Bernd Pfister
Phone: +41 41 729 01 01
Email: weiss@invision.ch,
pfister@invision.ch
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