Excellion Capital successfully completed a series of transactions delivering material funds to the Miller Group, an established oil and gas company based in the United States.

The Miller group owns a portfolio comprising producing and non-producing oil and gas assets located in Texas, Nevada and Louisiana. The asset base comprises conventional as well as shale properties in well-known and highly prolific US basins. Led by its Chairman, Bill Miller, the company has a strong management team with a proven, long-standing track record as well as genuine oil finder pedigree.

The net proceeds raised will be used to finance the repurchase of several legacy loans from the Washington State Bank, and to provide additional working capital to the Miller Group.

Excellion Capital successfully originated and arranged a structured $4.1 million loan transaction between a publicly listed, Switzerland-based investment fund as borrower, and a private investment firm as lender.

Excellion Capital was separately also appointed to act as calculation agent in connection with this loan.

Excellion Capital is pleased to announce the successful capital raising that was recently concluded by auxmoney, Germany’s #1 online marketplace for peer-to-peer loans.
The Excellion group of companies has been a meaningful shareholder in auxmoney GmbH since 2007 and actively involved in the company’s growth and development to date. Since 2008, Excellion Advisors has advised auxmoney on a series of capital raisings and other strategic initiatives.
As a key shareholder of auxmoney, the Excellion group welcomes the investment by Index Ventures and Union Square Ventures (as further described below).

Press release issued by auxmoney today:

auxmoney, Germany’s leading online marketplace for peer-to-peer loans, secures $12 million investment from Index Ventures and Union Square Ventures
auxmoney, Germany’s leading online marketplace where private consumers can borrow directly from private investors, secures an investment of $12 million from Index Ventures (other investments include Skype and Dropbox) and Union Square Ventures (other investments include Twitter and Lending Club, the highly successful P2P lending platform in the US). This funding puts auxmoney in a unique position to further capitalise on its market leading position in Germany’s P2P landscape and continue on its rapid expansion course.

Founded by Raffael Johnen, Philipp Kriependorf and Philip Kamp in 2007, auxmoney is a web-based marketplace allowing private borrowers to secure personal loans funded by private investors. auxmoney eliminates the high cost and complexity of traditional bank lending by offering a transparent marketplace where investors and borrowers can interact directly with each other.

Since inception auxmoney has facilitated over 11,000 loans worth €45 million to private borrowers, over 50% of which were issued in the last 12 months. The company’s growth is fuelled by investors seeking attractive and predictable returns on their capital as well as borrowers looking for better rates or alternatives to traditional bank loans.

To further accelerate its growth, auxmoney recently enhanced its loan marketplace to offer a better experience for both investors and borrowers. As well as upgrading the site’s user interface, the company abolished all entry fees which were previously payable by loan applicants and launched an Investor Cockpit to deliver a fully transparent and convenient lending experience to all investors on auxmoney’s platform.

Raffael Johnen, co-founder and CEO of auxmoney said:
“We are delighted to welcome Index Ventures and Union Square Ventures, two prominent and highly experienced partners, on board. Both are intimately familiar with online marketplaces such as ours and ideally qualified within global financial services. As financial markets are undergoing structural changes, our strong financial backing supports our ambitious expansion plans and puts us in an ideal position to further capitalise on the growing demand for crowdlending in Germany.”

auxmoney intends to use the funding to further enhance its product offering and significantly expand its 30-strong team in Duesseldorf.

Raffael Johnen explains: “We are about to witness a major shift in consumer behaviour towards peer-to-peer lending. auxmoney is at the forefront of this development. With our new partners on board, we are ready to turn crowdlending into a recognised, exciting and integral part of Germany’s consumer finance landscape.”

Neil Rimer, co-founder and Partner of Index Ventures, said:
“We are excited to be partnering with this outstanding financial services firm offering a strong value proposition: great returns for investors, low cost and unbureaucratic loans for borrowers. auxmoney has already done a terrific job of building awareness and attracting a large customer base in Germany. On the back of auxmoney’s recent platform upgrades, which further improve the company’s services to both borrowers and investors, we expect auxmoney to become a vital alternative to traditional bank loans in Germany.“

John Buttrick, Partner at Union Square Ventures, commented:
“We are thrilled to invest in auxmoney. The company is led by an impressive and experienced management team who have developed a highly scalable platform that will continue to benefit from the challenges faced by the banks. Union Square Ventures made prior investments in Lending Club (US) in 2011 and Funding Circle (UK) in 2012. We believe loan marketplaces such as auxmoney, Lending Club and Funding Circle are a more efficient business model for both borrowers and investors. We look forward to auxmoney becoming a leading Internet company in Europe’s financial services space.”

About auxmoney GmbH
auxmoney is an online marketplace that brings together creditworthy borrowers and savvy investors so that both can benefit financially. auxmoney eliminates the high cost and complexity of traditional bank lending by offering a transparent marketplace where its users can directly invest in and borrow from each other. With over 11,000 financed loans, www.auxmoney.com is Germany’s leading online platform for loans from private investors to private borrowers. To date, more than 20,000 investors have invested about €45 million in private loans on auxmoney’s platform to achieve above-average returns compared to other interest-bearing products.

About Index Ventures
Index Ventures is a leading venture capital firm that was founded to bring the west coast style of VC investing to Europe. Over the past 17 years, the firm has helped build a start-up ecosystem in Europe from the ground up. Index has backed companies like Skype, MySQL and Betfair, and its portfolio currently consists of more than 150 innovative companies, including SoundCloud, Dropbox, Funding Circle, TransferWise and Etsy. In the last 24 months, Index raised more than €1 billion to invest in start-ups.

About Union Square Ventures
Union Square Ventures (USV) is one of the world’s leading venture capital firm investing in internet and mobile internet businesses. Headquartered in New York City, USV backs passionate, experienced entrepreneurs focused on creating highly scalable services and significant value propositions for their end users. Over the past eight years, USV has been directly involved in the development of more than 40 companies, including Twitter, Lending Club, Tumblr, Foursquare, Kickstarter, Hailo and Zynga.

Excellion Capital is pleased to announce that Raffael Johnen, co-founder of Excellion Capital, has been appointed as CEO of auxmoney, Germany’s #1 online marketplace for peer-to-peer loans.

The Excellion group of companies has been a meaningful shareholder in auxmoney GmbH since 2007 and actively involved in the company’s growth and development to date. Since 2008, Excellion Advisors has advised auxmoney on a series of capital raisings and other strategic initiatives.

Raffael is a founding shareholder of auxmoney. He will remain a director of Excellion Capital. Included below is a press release that was issued by auxmoney today.

Translation of a press release issued by auxmoney today:

auxmoney enhances its managment team and appoints Raffael Johnen as CEO

Germany’s leading online marketplace for peer-to-peer loans has appointed Raffael Johnen with immediate effect as its new CEO.

Mr Johnen (37) is an experienced financier. For 6 years he worked for investment banking firm Rothschild, in Mergers & Acquisitions and debt advisory in Frankfurt. In 2007, he co-founded the London-based corporate finance und investments firm Excellion Capital together with Robert Stafler.

Raffael Johnen is a co-founder of auxmoney and will, going forward, focus on auxmoney’s development. Philipp Kriependorf, until now CEO of auxmoney, will continue to lead the operational side of auxmoney’s business as COO. Consequently, auxmoney now has a strengthened management team in place, which is ideally positioned to implement the company’s ambitious growth plans.

On behalf of the shareholders, Dr. Leo Rokeach said: “We are delighted to welcome Raffael Johnen in this leadership position. On the back of the strong growth of the past year, auxmoney is now at a cross-roads in its development as a company. Raffael is a highly experienced finance professional and has proven track record in building and growing businesses. As such, he is ideally placed to be auxmoney’s CEO and to execute auxmoney’s growth strategy.

Raffael Johnen commented: „I am delighted to take on this role. I am convinced that crowdlending is the consumer credit solution of the future. Together with our top notch team, we are ready to transform Germany’s consumer finance landscape and to realise the enormous potential inherent in auxmoney’s market leading platform.“

About auxmoney GmbH

auxmoney is an online marketplace that brings together creditworthy borrowers and savvy investors so that both can benefit financially. auxmoney eliminates the high cost and complexity of traditional bank lending by offering a transparent marketplace where its users can directly invest in and borrow from each other. With over 11,000 financed loans, www.auxmoney.com is Germany’s leading online platform for loans from private investors to private borrowers. To date, more than 20,000 investors have invested about €45 million in private loans on auxmoney’s platform to achieve above-average returns compared to other interest-bearing products.

The facility is a 58,000 sq ft, highly specified, fully fitted, Tier III data centre. The asset is leased until 2030 to a UK subsidiary of Atos (formerly: Atos Origin SA), the Euronext-listed technology company with a current market capitalisation of c. EUR 2.8 billion. The corporate entity holding the asset was acquired for £25.2 million, representing an initial yield of c. 7%.

In addition to delivering an attractive yield and a secure, long-term income stream, the asset also offers an excellent opportunity for growth due to the reversionary nature of the rental income, annual RPI increases which are subject to a minimum of 2.5%, and the fact that planning permission has been granted for a further 35,000 sq ft with electricity at a 14 MVA rating.

Excellion Capital acted as sole adviser to Gatehouse Bank in connection with this transaction. 

Excellion Capital advised Centrotherm AG, the world-leading technology and equipment provider for the photovoltaics sector, on a series of private placements of debt, successfully raising in aggregate EUR101.5 million for the issuer.

The series of transactions was executed through the issuance and placement of loan notes (Namensschuldverschreibung) and promissory notes (Schuldscheindarlehen). Due to strong demand from institutional investors, the initial loan volume was increased.

The total of EUR101.5 million of fresh debt capital was placed in 5 tranches, namely promissory notes with a duration of 5 years and 7 years (in each case, variable and fixed) and loan notes with a maturity of 15 years (fixed). In light of the challenging and volatile capital market environment at the time of issuance, these placements are exceptional achievements and a positive signal for Centrotherm.

Excellion Capital acted as exclusive financial advisor to Centrotherm on these successful transactions. 

With any questions, please contact Raffael Johnen, Managing Director at Excellion Capital.

MRE, the largest auto and transport group in Israel, has made another investment in the UK property market with the purchase of Peter House, a Landmark office property located on St Peters Square at the hub of Manchester’s central business district.

This was the final asset to be sold by a JV between Hermes and Aviva which will now be wound up. MRE have managed to secure this building with strong growth prospects at an attractive price level due to the termination of the JV.

Circa 80% of the income comes from Regus with the remainder from local operators. The building benefits from low office base rents of c. £10.50 psf and the purchase reflects a net initial yield of 7.5%.

The building offers an excellent opportunity for future performance due to already core but improving location, low capital value psf, reversionary rental levels, and asset management/development opportunities.

MRE was advised by Excellion Capital and WHR. This transaction follows closely on the heels of MRE’s purchase of Arundel Gate in Sheffield earlier this year.

Arazim Investments Limited, the real estate company listed on the Tel-Aviv Stock Exchange (together with its subsidiaries, Arazim or the Company) announce today that it received a signed letter from a leading international investment bank (the Bank) on 6 June 2011 confirming that the Bank is highly interested in providing to Arazim, subject to certain conditions, a loan facility.

In accordance with the letter, the Company expects to raise senior debt financing of c. 140 million Israeli Shekels (c. £25.05 million) net of transaction costs from the Bank, whereas the loan would be secured by a comprehensive security package comprising the vast majority of the Company‘s assets including (a) the Capella portfolio of assets; (b) shares in its material subsidiaries (including Arazim Gibraltar); and (c) a share pledge over all shares in Arazim which are held by the Company’s controlling shareholder.

Excellion Capital is acting as financial adviser to the Company in relation to the loan.

The consummation of the loan facility is conditional, amongst other things, on the Company using the loan proceeds together with funds currently held in the Company’s accounts to successfully extinguish the bondholder debt in its entirety.

The Company also announced today its proposal for a settlement offer (the Settlement), pursuant to which the Company would, subject to the consummation of the loan facility, pay to its major creditors (this being all of its bondholders as well as the Israeli tax authority) a cash amount of 250 million Israeli Shekels to repay and extinguish all of the Company’s liabilities vis-à-vis these creditors. Simultaneously the Settlement envisages the shares of Arazim being de-listed from the Tel-Aviv Stock Exchange such that the Company would, upon the Settlement becoming effective, cease to be publicly listed.

Arazim‘s  assets  are  predominantly commercial  real estate  concentrated with assets in the UK and Germany.

Greenko raises £50 million in cash through a placing on AIM,
secures additional 650 MW of wind power assets,
extends its existing partnership with GE

Paion AG, the biopharmaceutical company listed on the Frankfurt Stock Exchange, announced on 11 May 2011 a further Drawdown under the €15 million Equity Facility it entered into with a fund managed by Acqua Capital Management earlier this year.

Pursuant to this Drawdown, 287,092 new shares were issued to CCSV at a price of approximately €2.09 per share, representing an equity capital raising of close to €600,000 for Paion. The Company intends to use the cash inflows from the Equity Facility to fund research and development activities, for acquisitions and working capital.

Excellion Advisors LLP is acting as placement agent in connection with the Equity Facility and each Drawdown thereunder.

Following Excellion Capital’s successful execution of the $400m public takeover of Atlas Estates as Financial Advisor to the acquirer, the Izaki Group, Excellion Capital retains its #3 league table position for M&A across the European real estate for 2010 YTD. 

The transaction was the 2^nd largest M&A transaction and the largest public takeover in Eastern European real estate this year. 

Source: Bloomberg

As a result, Waterfall now owns approximately 9.4% of the issued share capital of Southern Cross. 

Excellion Capital is acting as exclusive Financial Adviser to Waterfall in connection with these transactions.

Pursuant to this Drawdown, 170.765 new shares were issued to CCSV at a price of €2.34 per share, representing an equity capital raising of close to €400,000 for Paion. The Company intends to use the cash inflows from the Equity Facility to fund research and development activities, for acquisitions and working capital.

Excellion Advisors LLP is acting as placement agent in connection with the Equity Facility and each Drawdown thereunder.

Paion AG, the biopharmaceutical company listed on the Frankfurt Stock Exchange, announced today its first Drawdown under the EUR 15 million Equity Facility it entered into with a fund managed by Acqua Capital Management earlier this year.

This de-listing follows closely on the heels of the successful £265 million (US$400 million) cash offer for Atlas Estates Ltd by the Izaki Group completed in June 2010, in connection with which Excellion Capital is acting as the Financial Advisor to the Izaki Group.

The Izaki Group’s cash offer of Atlas Estates is Europe’s largest public takeover in the real estate sector announced in 2010 thus far, and the second largest real estate M&A transaction overall this year.

A pharmaceutical company with a current market capitalisation well in excess of €200 million has entered into a €20 million equity financing facility with a North American investment firm. The facility provides the company with firm access to substantial capital on attractive and flexible terms. 

Excellion Capital is acting as sole Placement Agent in connection with this transaction.

Further announcements will be made in due course.

Excellion Capital advised and sourced a secured bridge loan for a consortium led by Daleville Investments Limited, as an affiliate of the Excellion Group. The bridge loan provides upfront project finance on attractive terms. Key to the successful completion of the transaction was an ability to act extremely quickly and ensure seamless execution within days from instruction to funding.

Click here to view City AM article

Today, a wholly-owned subsidiary of the Izaki Group announced that the cash offer for Atlas Estates Limited, the AIM-listed real estate company was successfully completed. Excellion Capital is acting as financial adviser to the Izaki Group. 

Background

• Atlas is a Guernsey-based real estate company listed on AIM and the Warsaw Stock Exchange
• Atlas owns commercial and residential real estate in Central and Eastern Europe. Its portfolio includes (amongst others) the Warsaw Hilton Hotel and Convention Centre, the Platinum Towers complex in Warsaw and several other income-generating and development assets across Poland, Romania, Hungary and Bulgaria
• The Izaki Group, a real estate development firm founded in 1948, is led by Ron Izaki, its CEO and main shareholder

Transaction Highlights

Offer stats

• Offer price of £0.90 per share in cash implying an Enterprise Value for Atlas of approx. £265 million (c. $400 million)
• Offer price represents a 11% premium to the undisturbed closing price on 13 April, the day before the first public announcement was made in connection with this takeover
• Offer price also represents a 5% discount to the closing price on 15 AprilOffer price represents a 66% discount to the company’s latest NAV per share

Pre-offer block trade and irrevocable undertakings

• Excellion Capital also advised the Izaki Group on purchase of a 7.1% stake in Atlas, which was executed successfully on 16th April, immediately prior to the announcement of the takeover offer. 
• Following this block trade, the Izaki Group (together with concert parties), owned c. 33% of Atlas
• Simultaneously, the Izaki Group also received an irrevocable undertaking to accept the Offer in respect of further c. 7% of Atlas’ shares, taking the Izaki Group’s concert party’s interests to a total of c. 40% of Atlas
• As a result of the block trade, a mandatory cash offer was made by the Izaki Group for all remaining Atlas shares under Rule 9 of the Takeover Code
• Essentially, the mandatory offer was conditional only upon the Izaki Group receiving acceptances resulting in the concert party reaching 50.01% of Atlas
• This condition was fulfilled within only three business days of the start of the acceptance period.

Unique offer structure: first-ever dual-regulated offer for a company listed in the UK and Poland

• Since Atlas is listed on AIM and WSE, the offer was structured to comply with UK, Guernsey and Polish law
• Offer structured carefully as a single offer across jurisdictions and announced simultaneously in the UK and Poland on the same terms and conditions
• Unique offer structure designed by Excellion Capital after close consultation with the UK Takeover Panel and the Polish Financial Supervisory Commission
• Structured as a mandatory offer (under Rule 9 of the Takeover Code) in the UK, and as a voluntary offer in Poland, principally to reconcile meaningful differences between the applicable regulatory requirements in the UK, Guernsey and Poland

Advisers to the Izaki Group

• Financial Adviser: Excellion Capital
• Polish Adviser: Citigroup Poland (DMBH)
• Legal Advisers (English law): Simmons & Simmons
• Legal Advisers (Polish law): Wardynski & Partners
• Executing broker for the block trade: Merrill Lynch

Click here to view City AM article

The board of directors of Atlas Estates Limited announce today the publication of a circular to the Company’s shareholders containing the Board’s recommendation of the offer by a member of the Izaki Group as announced on 16 April 2010.

As part of the rationale for recommending the Offer, the Board of Atlas Estates stated the following:

"The Board regards the Offer Price as being fair in the context of the risks facing the Group, despite the fact that it is at a considerable discount to the underlying NAV per Share as stated in the 2009 Audited Accounts and the more recent results to 31 March 2010…"

"The Board also recognises that certain Shareholders who, acknowledging the risks involved(including the possibility of it becoming more difficult to sell Ordinary Shares in the future,particularly if the Company does not maintain its listing on either AIM and/or the WSE) may share the Board’s view regarding the potentially greater value of the Group in the longer term and choose to retain their Ordinary Shares. For this reason, the Chairman, who is the only Shareholder on the Board, does not intend to accept the Offer."

In addition, the Board recommended the offer stating:

"The Directors continue to believe in the long-term prospects of the Company, which could be rewarding as and when the CEE property markets and credit environments improve. However, having evaluated the various factors relevant to the Offer and considered the inherent uncertainties and associated risks in the near future of the Company, the Directors consider the Offer Price to be fair.

Accordingly, the Directors, who have been so advised by Fairfax, consider the terms of the Offer to be fair and reasonable and the Directors unanimously recommend that Shareholders accept the Offer."

Click here to view the Company’s full press release

Fragiolig Holdings Limited ("Fragiolig") announced today that its Offer for Atlas Estates Ltd ("Atlas") has become wholly unconditional. 

Fragiolig, a wholly owned subsidiary of the Izaki Group, had received valid acceptances in respect of a total of 10,828,132 Atlas Shares, representing approximately 23.1 per cent. of the issued share capital of Atlas. In combination with the Atlas Shares already owned by Fragiolig and parties acting in concert with it, Fragiolig, together with parties acting in concert with it, now owns, or has received acceptances in respect of, in aggregate, 26,241,210 Atlas Shares, representing approximately 56.0 per cent. of the issued share capital of Atlas.

The Offer will remain open for acceptance until 21 June 2010.

Excellion Capital advises the Izaki Group and Fragiolig on the public take-over offer for Atlas Estates.

This facility strengthens Paion’s financial position, substantially extending its cash reach well into 2012. This provides Paion with firm access to new capital and meaningful optionality at attractive and flexible terms. Paion also intends to use the cash raised under this agreement to fund research and development and for acquisitions of new development candidates.

Transaction Highlights

• This transaction gives Paion the right, but not obligation, to draw down up to €15 million in fresh equity at times of its choosing over the next 3 years
• The timing and the amounts of any draw downs are, subject to certain limited restrictions, at Paion’s sole discretion 
• All new shares to be issued will be priced at a 5% discount to the volume-weighted average share price of Paion shares over the 5-day period following a draw-down request from Paion
• Importantly, Paion also has the right to determine, for every tranche, a floor price below which Paion will not be obliged to issue any shares

“The flexibility of the facility is an essential advantage giving us the right to request funds on demand to reach our strategic goals”, commented Bernhard Hofer, Paion’s CFO.

“The equity facility offers Paion exceptional flexibility as well as certainty of access to capital in volatile times, where optionality as well as firm access to cash are critical and difficult to obtain”, said Raffael Johnen, Managing Director of Excellion Capital. 

Key Parties to the Transaction
Placement Agent: Excellion Capital
Legal Counsel to Paion: Sullivan & Cromwell
Legal Counsel to Acqua Capital: Allen & Overy

Today, a wholly-owned subsidiary of the Izaki Group announced a cash offer for Atlas Estates Limited, the AIM-listed real estate company. Excellion Capital is acting as financial adviser to the Izaki Group in connection with this transaction. 

Background

• Atlas is a Guernsey-based real estate company listed on AIM and the Warsaw Stock Exchange
• Atlas owns commercial and residential real estate in Central and Eastern Europe. Its portfolio includes (amongst others) the Warsaw Hilton Hotel and Convention Centre, the Platinum Towers complex in Warsaw and several other income-generating and development assets across Poland, Romania, Hungary and Bulgaria
• The Izaki Group, a real estate development firm founded in 1948, is led by Ron Izaki, its CEO and main shareholder

Transaction Highlights

Offer stats

• Offer price of £0.90 per share in cash implying an Enterprise Value for Atlas of approx. £265 million
• Offer price represents a 11% premium to the closing price on 13 April, the day before the first public announcement was made in connection with this takeover
• Offer price also represents a 5% discount to the closing price on 15 April
• Offer price represents a 66% discount to the company’s latest NAV per share

Pre-offer block trade and irrevocable undertakings

• Excellion Capital also advised the Izaki Group on today’s purchase of a 7.1% stake in Atlas, which was executed successfully today , immediately prior to the announcement of the takeover offer. 
• Following this block trade, the Izaki Group (together with concert parties), now owns c. 33% of Atlas
• Simultaneously, the Izaki Group also received an irrevocable undertaking to accept the Offer in respect of further c. 7% of Atlas’ shares, taking the Izaki Group’s concert party’s interests to a total of c. 40% of Atlas
• As a result of the block trade, a mandatory cash offer was made today by the Izaki Group for all remaining Atlas shares under Rule 9 of the Takeover Code
• The mandatory offer is conditional upon the Izaki Group receiving acceptances resulting in the concert party reaching 50.01% of Atlas

Unique offer structure: first-ever dual-regulated offer for a company listed in the UK and Poland

• Since Atlas is listed on AIM and WSE, the offer was structured to comply with UK, Guernsey and Polish law
• Offer structured carefully as a single offer across jurisdictions and announced simultaneously in the UK and Poland on the same terms and conditions
• Unique offer structure designed by Excellion Capital after close consultation with the UK Takeover Panel and the Polish Financial Supervisory Commission
• Structured as a mandatory offer (under Rule 9 of the Takeover Code) in the UK, and as a voluntary offer in Poland, principally to reconcile meaningful differences between the applicable regulatory requirements in the UK, Guernsey and Poland

Advisers to the Izaki Group

• Financial Adviser: Excellion Capital
• Polish Adviser: Citigroup Poland (DMBH)
• Legal Advisers (English law): Simmons & Simmons
• Legal Advisers (Polish law): Wardynski & Partners
• Executing broker for the block trade: Merrill Lynch

As a result of this acquisition, under Rule 9 of the City Code a mandatory cash offer is now required to be made by Fragiolig for the entire issued and to be issued share capital of Atlas not already owned by Fragiolig or by persons acting in concert with it.

Following the acquisition, Fragiolig, together with parties acting in concert with it, owned, in aggregate, 15,437,738 Atlas Shares representing approximately 32.95 per cent. of the issued share capital of Atlas.

Excellion Capital advises the Izaki Group on its public take-over offer for Atlas Estates.

In February 2010, PRS-Med Limited ("PRS"), a cutting edge infrastructure company in which Israel’s largest PE house has a major stake, entered into a strategic distribution agreement with one of India’s largest and most respected civil engineering groups. Excellion Capital acted as adviser to PRS in connection with this landmark transaction.

The agreement allows PRS to distribute its highly innovative road building and land stabilisation solution in one of the world’s largest markets, with their new partner offering decades of in-country experience in India as well as other potential key markets for PRS, including Africa and other parts of Asia. PRS’s entry into this market is well timed in the context of the Indian government’s recent announcement of a significant increase in road building activity.