JZ makes two sales – JZ Capital Partners Limited has realised two of its US micro-cap investments, Nielsen-Kellerman and K2 Towers, for a total gross value of $39.9 million, representing a cumulative $13.4 million uplift to JZCP’s net asset value as of 31 August 2017.
K2 Towers
K2 was founded in 2009 and specialises in acquiring and maintaining wireless communication towers, with portfolios stretching throughout the United States and Puerto Rico.
JZCP expects to receive total proceeds of $31.3 million from the sale of K2 to a strategic buyer, representing an overall gross multiple of invested capital of 1.5x and a gross internal rate of return of 17.6% in just over two years.
Nielsen Kellerman
Established in 1978, NK is a designer, manufacturer and distributer of rugged, waterproof environmental and sports performance instruments for active lifestyles and technical applications.
Having first invested in NK in December 2010, JZCP received proceeds of $8.6 million from the sale, representing a realised gross multiple of invested capital of 3.3x and a realised gross IRR of 19.2%.
David Zalaznick, JZCP’s Founder and Investment Adviser, commented: “We are pleased with the successful outcome of both investments. The combined uplift of $13.4 million in these two realisations demonstrates the soundness of the NAV and our ability to achieve realisations above the current valuations in the NAV.”
JZCP : JZ makes two sales