CVC and 3i sell stakes in sanitation service provider ADCO

06 September 2007

Frankfurt --- Private equity investors CVC Capital Partners and 3i have sold their stakes in sanitation service provider ADCO Umweltdienste Holding GmbH to the
Belgian Amcotec group of companies. ADCO is a leading provider of mobile sanitation utility and disposal equipment, represented in more than 30 countries in Europe, the U.S. and South East Asia with its internationally acclaimed TOI TOI and DIXI brands. The parties agreed not to disclose any information on the purchase price.

The ADCO Group had its origins in 1997 in the wake of a merger of the two biggest European mobile toilet providers, DIXI and TOI TOI. CVC and 3i had acquired the pioneer company DIXI in 1995 following a management buyout. After the merger with TOI TOI, the group of companies saw constant growth, with the size of the workforce doubling in tandem with sales revenues. ADCO’s core business extends to include the production, lease, regular cleaning services and disposal of mobile sanitation systems. The product spectrum ranges from mobile, single-cabin toilets and shower stalls all the way through to luxury WC facilities.

“What began with the first DIXI cabin in Germany in 1973 developed into a success story of mobility without limitations”, said Marc van Dooren, a spokesman of Amcotec, “both on construction sites and at major events: we continue to perceive rising demand for modern and simultaneously environmentally friendly mobile sanitation facilities and, therefore, substantial growth potential.”

Steve Koltes, Managing Partner of CVC Capital Partners, commented: “This investment is a good example to show how a private equity investor and an entrepreneur can collaborate successfully. In selling our stake in ADCO, we are convinced that the company continues to have major growth potential across the globe.”

“Together with CVC, we have successfully developed ADCO over a long period of time, cooperating with the management of the company in a mutual spirit of partnership,” said Dr. Stephan Krümmer, General Manager of 3i in Germany. “The entrepreneurial spirit of ADCO’s management will continue to give the company fresh impetus for growth in future. We would like to wish the company all the best and every success for its future development”.

In this transaction, CVC was advised by Clifford Chance Frankfurt (Reiner Altfuldisch and Kerstin Kopp). 3i was advised by Dechert LLP Munich (Berthold Hummel (lead), Julia Braun, Kristina Karbach).

For further information, please contact
For 3i:
Jennifer Letki  
Phone: +44 20 7975 3190   
E-Mail: jennifer.letki@3i.com  

For CVC Capital Partners:
Dr. Phoebe Kebbel
Hering Schuppener Consulting GmbH
Phone:  +49 69-921874-77
E-Mail:  pkebbel@heringschuppener.com

About 3i
3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital, venture capital and infrastructure and invest across Europe, in the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders. 

For further information, please visit: www.3iDeutschland.de and www.3i.com.
 
About CVC Capital Partners
CVC Capital Partners ("CVC") is a leading global private equity and investment advisory firm. Founded in 1981, it is independently owned by its management and operates an integrated network of 18 advisory offices manned with an experienced and longstanding team of over 150 professionals.  Offices are located across Europe, Asia and the United States.

Since 1996, CVC has raised and managed funds exceeding €19.5 billion. In July 2005 it closed its €6 billion CVC European Equity Partners IV, since supplemented by the €4 billion CVC European Equity Partners Tandem Fund which closed in January 2007. In Asia, CVC Asia Pacific currently invests from its US$2 billion CVC Asia Pacific Fund II.

CVC has been a major private equity investor for over 25 years, starting in Europe in 1981 and moving to Asia in 1998 and the US in 2007. It has always invested as one team with one set of objectives: to acquire, own and improve high quality businesses. CVC is the only large private equity group whose funds are known to have all achieved top-quartile performance. The current portfolio comprises 46 companies and includes: Formula One, the world's leading motorsport rights management business; Matas, Denmark’s leading personal care retail chain; Belgian Post, Belgium's national postal service; Flint, the world's number two maker of printing inks; Elster, the world's largest gas, water and electric meter manufacturer; Skylark, Japan’s number one food service company and family-restaurant chain; PBL Media, Australia's largest diversified media group; and DCA, Australia's leading healthcare company.

For further information, please visit: www.cvc.com.