JZ Capital Partners (JZCP), a London listed fund that invests in US and European micro-cap companies and US real estate, has realised two of its investments, Southern Petroleum Laboratories (SPL) and Metpar, for a combined USD11.5 million.
JZCP received proceeds of USD8.4 million from the sale of SPL, a provider of oil and gas measurement and laboratory services, which is approximately the company’s carrying value.
JZCP also received warrants for approximately USD0.5 million on day one value in the new buyer as well as a dividend of USD1.3 million from SPL in July 2015.
JZCP received proceeds of USD3.1 million from the refinancing of Metpar, a manufacturer of restroom partitions, which is a significant uplift to the company’s carrying value of USD0.8 million.
JZCP received proceeds of USD3.1 million over the lifetime of the Metpar investment in addition to the USD3.1 million recently received.
David Zalaznick, JZCP’s founder and investment adviser, says: “We are pleased with the outcomes of both of these sales, particularly with SPL given the challenging energy market, and wish the companies the best of luck for the future.”