16 April 2025
ICG Enterprise Trust announces realisation of Minimax
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.
Disclaimer
This report may contain forward looking statements. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.
