18 Dec OpCapita nominated for Private Equity International Award
London, 18 December 2014: OpCapita, the European private equity partnership, is delighted to announce it has been shortlisted for Private Equity International’s Special Situations Firm of the Year Award 2014.
OpCapita has been nominated for the prestigious award, which will be announced in March 2015, in recognition of its outstanding achievements over the past year. These include OpCapita’s successful flotation of Game Digital; and the acquisitions of NKD, the German discount clothing retailer, and La Sirena Alimentacion Congelada, the leading frozen food retailer in Spain.
The acquisition of NKD in November 2013 was the first investment made by OpCapita Consumer Opportunities Fund, which is dedicated to investing in the European retail and consumer sectors. The Fund has secured the backing of high quality European and US institutional investors.
OpCapita acquired Game Retail, the specialist video games retailer, out of administration in April 2012 and has delivered a successful turnaround of the business. In June 2014, Game Digital listed on the London Stock Exchange at a price of 200p per share. The company’s shares closed on Wednesday 17 December 2014 at 346.75p, up 73% since flotation, giving Game Digital a market capitalisation of just under £600 million – more than ten times what OpCapita paid for the business in April 2012.
The London Stock Exchange also recently announced that Game Digital will enter the FTSE 250, effective after the market close on 19 December 2014. The video games retailer delivered a pre-tax profit of £7.3 million for the year to 26 July 2014, on revenue up by 31 per cent to £861.8 million.
In November 2014, OpCapita acquired La Sirena from its previous owners, a group of managers backed by a consortium of banks that acquired their stake from 3i. La Sirena operates 237 stores in Spain and holds market-leading positions in Catalonia and Madrid.
This was OpCapita’s second investment in the Spanish market, following the 2012 acquisition of Game Iberia which later merged with Game Retail in the UK to form Game Digital.
In November 2013, OpCapita announced its acquisition of NKD. The acquisition saw OpCapita inject new capital into the business as part of an initial investment of €20 million. OpCapita invested further capital following the closing of its new equity fund. OpCapita financed the buyout of NKD without bank debt. The added liquidity helped NKD complete its restructuring programme and drive its growth plans.
To vote for OpCapita, please access the Private Equity International 2014 Awards site via the following link.