ICG Enterprise Trust announces realisation of Minimax

"We believe our portfolio of mid-market companies, diversified across North America and Europe and with defensive growth characteristics, gives shareholders exposure to an attractive segment of the private equity landscape," say ICG Enterprise Trust's Portfolio Managers Oliver Gardey and Colm Walsh

ICG Enterprise Trust (“ICGT”) is pleased to announce the realisation of Minimax, generating €53 million (£45m) in cash proceeds¹ to ICGT. The sale was executed in line with the last reported NAV and proceeds have been received.

ICGT originally invested in Minimax in 2018 alongside funds managed by ICG².

Minimax is a global supplier of fire protection systems and services, and was ICGT’s largest company exposure at 31 October 2024, accounting for 3.3% of the Portfolio value.

Oliver Gardey and Colm Walsh, Portfolio Managers for ICG Enterprise Trust, commented:

“As a result of the realisation of Minimax and the secondary sale reported earlier this month ICGT has announced over £100m of total proceeds in April, which will be deployed in line with our investment objectives and capital allocation policy.

These transactions underline the benefits of our active portfolio management and help validate the quality of the businesses we invest in. These characteristics underpin the long-term returns we seek to generate for our shareholders.

We believe our portfolio of mid-market companies, diversified across North America and Europe and with defensive growth characteristics, gives shareholders exposure to an attractive segment of the private equity landscape. We will continue to monitor the macro-economic environment closely and look forward to discussing our performance and outlook with shareholders in our full year results in early May.”

¹Cash proceeds received of €53m, of which ICG Enterprise Trust is reinvesting €14m alongside Management and other investors including certain ICG funds
²The original investment was through primary commitments to ICG Europe VI and ICG Europe VII as well as a direct co-investment into Minimax

Enquiries

Analyst / Investor enquiries:

Martin Li, Shareholder Relations, ICG +44 (0) 20 3545 1816
Nathan Brown, Deutsche Numis +44 (0) 20 7260 1426
David Harris, Cadarn Capital +44 (0) 20 7019 9042

Media:

Clare Glynn, Corporate Communications, ICG +44 (0) 20 3545 1395

Website:

www.icg-enterprise.co.uk

About ICG Enterprise Trust

ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term compounding growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US.

We invest in companies directly as well as through funds managed by ICG and other leading managers who focus on creating long-term value and building sustainable growth through active management and strategic change.

We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.

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ICG Enterprise Trust announces realisation of Minimax

Oliver Gardey and Colm Walsh, Portfolio Managers for ICG Enterprise Trust, commented: