TowerBrook Capital Partners, L.P. agrees to sale of InfoPro Communications to Apax Partners SA

LONDON, June 7 2007 - TowerBrook Capital Partners, L.P. ("TowerBrook") has today agreed to sell InfoPro Communications SAS ("InfoPro"), the leading French professional information group through its subsidiary ETAI SAS (together the "Group"), to funds managed by Apax Partners SA ("Apax"), together with the management team. Closing of the sale is expected once competition clearances have been obtained.

Apax will be the majority shareholder, with the management team retaining a 44% stake in the group.

With the support of TowerBrook since 2001 and under the leadership of Christophe Czajka, CEO and founder of InfoPro, the Group has achieved growth averaging more than 30% a year over the last five years. InfoPro built its growth strategy around a multi-media approach, building its presence in the automotive and industry markets through a mix of data bases, multimedia products, trade exhibitions and trade publications. TowerBrook funded the Group over time with its own equity and minimal leverage. The Group currently employs 380 people, with subsidiaries in Spain, Italy, the US and China and is expected to generate revenues of €70m this year.

Karim Saddi, Managing Director of TowerBrook said: "Over the past six years, InfoPro has developed dramatically as a business as well as delivering excellent returns to our investors. This transaction will enable us to realise the substantial improvement in the value of our investment while allowing Christophe Czajka and his management team to find a new shareholding structure that will support their future ambitions for this company."

Back