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Siteco announces agreement to be acquired by Barclays Private Equity from J.P. Morgan Partners, LLC, as advised by CCMP Capital Advisors, LLCJuly 23, 2007 — Siteco Beteiligungsverwaltungs GmbH (including Siteco Beleuchtungstechnik GmbH and subsidiaries, together “Siteco”) has reached an agreement for Barclays Private Equity to acquire the company from J.P. Morgan Partners, LLC (“JPMorgan Partners”). Siteco is a market leading European lighting fixtures group providing technical indoor and outdoor lighting solutions in the premium and medium product segments. The transaction is expected to close in the third quarter subject to customary regulatory review. Affiliates of JPMorgan Partners acquired Siteco in October 2002. Since that time, Siteco has embarked on several initiatives, including a substantial rationalization of its cost structure and improvements in capacity utilization and operating flexibility. Siteco has grown sales and EBITDA by compound annual growth rates of 4% and 23%, respectively, since 2003 and has expanded its global footprint with new operations in China, Malaysia and Eastern European markets. Commenting on the announcement, Andreas Schütte, CEO of Siteco, said, "All of us at Siteco are delighted to begin working together with Barclays Private Equity to further develop Siteco as the leading European technical lighting fixtures company.” Stephen Welton, Senior Member of CCMP Capital Advisors, LLC, which manages investments made by JPMorgan Partners, added, “Andreas Schütte and his team have done a tremendous job successfully transforming Siteco and we believe the business is well positioned for the future.” Michael H. Bork, Managing Director of Barclays Private Equity Deutschland,, said, “We look forward to working together with Siteco. Siteco is excellently positioned in its sector and, together with Barclays Private Equity, will take an active part in shaping consolidation within the sector. The positive business performance of Siteco will support us in achieving this goal." CCMP Capital was advised by Rothschild and Milbank Tweed Hadley McCloy LLP. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Barclays Private Equity. ### Inquiries: Siteco: Claudia Vokinger Tel: 49 (0) 8669 33 237 JPMorgan Partners: c/o CCMP Capital Advisors, LLC Allison Cole Tel: (212) 600 9657 Barclays Private Equity: Margret Riedlsperger IRA WÜLFING KOMMUNIKATION Tel.: +49 (0)89 2000 30-39 Fax: +49 (0)89 2000 30-40 E-mail: margret.riedlsperger@wuelfing-kommunikation.de About Siteco: Siteco is a leading European lighting fixtures group, headquartered in Traunreut, Germany. Siteco has a rich technical and engineering knowledge base with which it has achieved a leading market position in Europe for technical lighting solutions in the premium and medium product segments. The company focuses on technical indoor (e.g. trunking systems, downlights and floor-standing uplights) and outdoor lighting fixtures (e.g. road luminaires, floodlights and decorative luminaires). About JPMorgan Partners: J.P. Morgan Partners, LLC ("JPMP") is a private equity division of JPMorgan Chase & Co. (NYSE: JPM), one of the largest financial institutions in the United States. JPMP has invested over $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare and technology companies since its inception in 1984. As of August 1, 2006, the investment professionals of JPMP formed entities independent of JPMorgan Chase. The buyout and growth equity professionals formed CCMP Capital Advisors, LLC, which focuses exclusively on buyout and growth equity investments primarily in five targeted industry sectors in the U.S. and Europe. The venture team formed Panorama Capital, LLC, and continues to focus on technology and life sciences investments. CCMP Capital and Panorama continue to manage the JPMP investments pursuant to a management agreement with JPMorgan Chase & Co. JPMP is a registered investment adviser with the Securities and Exchange Commission. About CCMP Capital: The investment team of CCMP Capital Advisors, LLC has invested approximately $12 billion in over 380 buyout and growth equity transactions since 1984. The foundation of CCMP Capital's investment approach is to leverage the combined strengths of its deep industry expertise and proprietary global network of relationships by focusing on five targeted industries: Consumer, Retail and Services; Energy; Healthcare Infrastructure; Industrials; and Media and Telecom. Through active management and its powerful value creation model, CCMP Capital's team has established a reputation as a world-class investment partner. Prior to forming CCMP Capital, the firm's principals led the buyout and growth equity investment business of J.P. Morgan Partners, LLC, a private equity division of JPMorgan Chase & Co. CCMP Capital follows the successful investment strategy its principals developed and implemented as members of JPMorgan Partners. Selected investments include: BOC Edwards, Grupo Corporativo ONO, Nowaco, SafetyKleen Europe, Aramark Corporation, Generac Power Systems, Hanley Wood, Quiznos Sub and Warner Chilcott. CCMP Capital is a registered investment adviser with the Securities and Exchange Commission. About Barclays Private Equity: Founded in the UK in 1979, Barclays Private Equity is one of Europe's leading mid-market financiers, with 46 investment professionals in eight offices around the world. Over the last 28 years it has invested equity in more than 400 transactions, mainly mid-market buy-outs, with a value of over €9 billion. Its portfolio currently includes more than 80 companies. Since 1998 Barclays Private Equity has had a presence in Germany. The team in the Munich office currently numbers nine. In recent years it has handled numerous transactions, among them a series of successful sales of companies as f.ex. Minimax, Jack Wolfskin, Schneider and ETIMEX. Barclays Private Equity is part of Barclays Capital, the investment banking arm of the Barclays Group, and is thus part of one of the world's largest banking groups. Back to Press Releases |
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The historical information presented may reflect the activities of the professionals of CCMP Capital Advisors, LLC (together with its affiliates, “CCMP Capital”) while they were members of J.P. Morgan Partners, LLC ("JPMP"), a private equity division of JPMorgan Chase & Co. prior to CCMP Capital's commencing operations. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2008 CCMP CAPITAL ADVISORS, LLC. All rights reserved. |
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