JZ Capital has announced that its has sold two of its investments, Southern Petroleum Laboratories and Metpar, for a combined $11.5 million.
JZCP received proceeds of $8.4 million from the sale of Southern Petroleum Laboratories , a leader in oil & gas measurement and laboratory services, which is approximately the company’s carrying value. JZCP also received warrants for approximately $0.5 million on day one value in the new buyer as well as a dividend of $1.3 million from Southern Petroleum Laboratories in July 2015.
JZCP received proceeds of $3.1 million from the refinancing of Metpar, a manufacturer of restroom partitions, which is a significant uplift to the company’s carrying value of $0.8 million. JZCP received proceeds of $3.1 million over the lifetime of the Metpar investment in addition to the $3.1 million recently received.
JZCP : JZ Capital sell Southern Petroleum Labs and Metpar