9th Feb 2015 07:00
JZ CAPITAL PARTNERS LTD - NIC AcquisitionJZ CAPITAL PARTNERS LTD - NIC Acquisition
PR Newswire
London, February 5
JZCAPITAL PARTNERS ACQUIRES NATIONAL INSPECTION AND CONSULTANTS, LLC ~ New acquisition expands JZCP's Industrial Services Solutions ("ISS") segment ~ 9 February 2015 JZ Capital Partners, Ltd. ("JZCP"), the London listed private equity fund thatinvests in high quality US and European microcap companies and US real estate,along side its long-term investment partner The Edgewater Funds("Edgewater"),has acquired National Inspection and Consultants, LLC ("NIC"). The final purchase price is still to be finalised but is expected to be between$9-10 million. JZCP owns 37.4% of the combined entity on a fully-diluted basis. Headquartered in Fort Myers, Florida, NIC provides teams of experienced,certified inspectors, and project managers for assignments primarily in theU.S. nuclear power sector. The Company offers non-destructive testing, qualitycontrol inspection, quality programs consulting, technical and professionalstaffing training, erosion/corrosion monitoring services and employee concernsprogram consulting. NIC represents the third investment for ISS' Speciality Field Services Group("SFSG"). Led by Jim Rogers, a GE veteran who has extensive industryexperience, ISS is generating annual sales and EBITDA in excess of $265 millionand $40 million, respectively. David Zalaznick, JZCP's Founder and Investment Adviser, commented: "NIC addsanother high quality company to our already strong ISS platform and is anatural fit for SFSG, enhancing its industrial field service capabilities inthe U.S. nuclear power sector. Over the past few years, ISS has evolved into a substantial platform with asignificant growth trajectory. The acquisition of NIC builds on this strongmomentum and adds to the strength of our overall US investment portfolio. The agreement follows JZCP's recently announced real estate acquisitions in NewYork and Miami, where it has made three investments alongside its long-termreal estate partner, RedSky Capital, LLC." Ends For further information: Ed Berry / Kit Dunford +44 (0) 20 3727 1143FTI Consulting David Zalaznick +1 212 485 9410Jordan/Zalaznick Advisers, Inc. Andrew Maiden +44 (0) 1481 745368JZ Capital Partners About JZCP JZCP is a London listed private equity fund which invests in high quality USand European microcap companies and US real estate. Its objective is to achievea superior overall return comprised of a current yield and significant capitalappreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have workedtogether for 30 years and are supported by teams of investment professionals inNew York, Chicago, London and Madrid. JZAI's experts work with the existingmanagement of microcap companies to help build better businesses, create valueand deliver strong returns for investors. JZCP also invests in mezzanine loans,first and second lien investments and other publicly traded securities. Formore information please visit www.jzcp.com.
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