REG - Oakley Capital Inv. - Oakley Capital agrees sale of Facile.it

Oakley Capital InvestmentsAnnouncement

23/06/2022 07:00

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RNS Number : 8788P  Oakley Capital Investments Limited  23 June 2022

23 June 2022

Oakley Capital Investments Limited

 

Oakley Capital Investments Limited(1) ("OCI") is pleased to announce that
Oakley Capital Fund III(2) ("Fund III") has reached an agreement to sell its
stake in Facile.it, Italy's largest online price comparison platform.

OCI's share of proceeds will be c.£53 million and the sale represents a c.23%
premium to the 31 March 2022 carrying value, an uplift of c.6 pence per share
to the Company's NAV.

Note that the above figure only relates to OCI's share of proceeds from the
sale of Facile.it.

OCI's liquid resources available for future deployment (including this
transaction) are estimated to be c.£200 million.

Further details on the transaction can be found in the below announcement from
Oakley Capital(3.)

 

Oakley Capital agrees sale of Facile.it

Oakley Capital ("Oakley") is pleased to announce that Oakley Capital Fund III
("Fund III") has reached an agreement to sell its stake in Facile.it
("Facile"), Italy's largest online price comparison platform, to Silver Lake.

Fund III invested in Facile in 2018, alongside EQT Private Equity. During the
course of the investment the business has continued to pioneer the Online
Price Comparison market in Italy, developing innovative products that save its
users hundreds of millions of euros every year. Over time, Facile has expanded
its diversified product offering and unique omnichannel distribution
proposition that underpin its long-term growth trajectory, allowing it to
benefit from the continued market digitalisation and e-commerce penetration.

Today, Facile.it reaches a base of over four million unique monthly users via
an end-to-end seamless experience across its website, 39 stores, and over
three thousand agents, and has grown its EBITDA by more than 20% on average
over the last four years.

 

Facile CEO, Tobias Stuber, commented:

"On behalf of the Facile management team and all employees, I would like to
thank our investors EQT and Oakley Capital for the successful, collaborative,
and highly productive partnership over the past four years on our journey
towards capitalising further on our position as a landmark destination for
Italy's household spending. Thanks to the support of our investors, we are in
an even better position today for the next phase of our growth with our new
partner Silver Lake."

Oakley Capital Managing Partner, Peter Dubens, commented:

"Our successful investment in Facile has built on our deep expertise investing
in digital marketplaces including price comparison websites. We would like to
thank Tobias and his team for their hard work in growing the business over the
last four years, delivering vertical diversification and significant customer
growth."

- ends -

 

For further information please contact:

 

Oakley Capital Limited

+44 20 7766 6900

Steven Tredget

 

Greenbrook Communications Limited

+44 20 7952 2000

Rob White / Michael Russell

 

Liberum Capital Limited (Financial Adviser & Broker)

+44 20 3100 2000

Chris Clarke / Darren Vickers / Owen Matthews

 

Notes:

LEI Number: 213800KW6MZUK12CQ815

(1 )About Oakley Capital Investments Limited ("OCI")

OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims
to provide shareholders with consistent long-term capital growth in excess of
the FTSE All-Share Index by providing liquid access to private equity returns
through investment in the Oakley Funds.

A video introduction to OCI is available
at https://oakleycapitalinvestments.com/videos/
(https://oakleycapitalinvestments.com/videos/)

The contents of the OCI website are not incorporated into, and do not form
part of, this announcement.

(2) The Oakley Funds

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital
Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV,
Oakley Capital V and Oakley Capital Origin Fund are unlisted lower-mid to
mid-market private equity funds that aim to provide investors with significant
long-term capital appreciation. The investment strategy of the Funds is to
focus on buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement.

(3) Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability
to source attractive growth assets at attractive prices. To do this it relies
on its sector and regional expertise, its ability to tackle transaction
complexity and its deal generating entrepreneur network.

Important information

Specialist Fund Segment securities are not admitted to the Official List of
the Financial Conduct Authority. Therefore, the Company has not been required
to satisfy the eligibility criteria for admission to listing on the Official
List and is not required to comply with the Financial Conduct Authority's
Listing Rules.

The Specialist Fund Segment is intended for institutional, professional,
professionally advised and knowledgeable investors who understand, or who have
been advised of, the potential risk from investing in companies admitted to
the Specialist Fund Segment.

This announcement may include "forward-looking statements". These
forward-looking statements are statements regarding the Company's objectives,
intentions, beliefs or current expectations with respect to, amongst other
things, the Company's financial position, business strategy, results of
operations, liquidity, prospects and growth. Forward-looking statements are
subject to risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future.  Accordingly the
Company's actual future financial results, operational performance and
achievements may differ materially from those expressed in, or implied by, the
statements. Given these uncertainties, prospective investors are cautioned not
to place any undue reliance on such forward-looking statements, which speak
only as at the date of this announcement. The Company expressly disclaims any
obligation or undertaking to update or revise any forward-looking statements
contained herein to reflect actual results or any change in the Company's
expectations with regard to them or any change in events, conditions or
circumstances on which any such statements are based unless required to do so
by the Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or other
applicable laws, regulations or rules.

 

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