expectations_redefined

Monitor Clipper Partners Announces First European Transaction

July 12, 1999 -- Monitor Clipper Partners today announce that they have bought Technal, the French subsidiary of Alcan. This complex, cross border transaction involves Technal and their operations across four European countries. This is Monitor Clipper Partners first European acquisition; they now intend to proactively pursue further opportunities in the European market over the coming months.

Monitor Clipper Partners is based both in London and in Boston, Massachusetts, and was founded by a group of professionals from Monitor Company Inc., a fast-growing international management consultancy and also from The Clipper Group, a private equity firm previously based in New York. Monitor Clipper Partners expects that Monitor Company will be a major source of investment ideas and will provide support to develop growth strategies for acquired companies.

The Monitor Clipper Partners fund closed in June 1998 with a total of $625 million. This fund will now be invested on a leveraged basis in companies whose value can be enhanced through a combination a financial and strategic resources. Monitor Clipper Partners will apply its wide ranging managerial, financial, and strategic and business consulting expertise and resources to assist management teams to build the value of the companies which Monitor Clipper Partners invests in.

Technal is the French market leader in the design and manufacturing of aluminum building systems and has operations in France, Spain, Portugal and the UK. Technal has sales of FF 1.4 billion and approximately 1,400 employees. The company will continue to operate from its headquarters in Toulouse.

The acquisition provides Monitor Clipper Partners with the opportunity to support the management's plans to develop the company and they believe that Technal is well positioned to grow substantially.

Commenting on the transaction, Bill Young, Managing Director of Monitor Clipper Partners said: "We are delighted to have reached this agreement with Alcan to acquire Technal. This acquisition is our first in Europe and is indicative of our strategy to acquire businesses with market leading positions that we believe can benefit from our support. We will now be looking to pursue further opportunities in the European market in the near future."

Commenting on the transaction, Gerard de Saint Remy, Chief Executive of Technal said: "We are very much looking forward to working with Monitor Clipper Partners, this will provide a strong platform from which to pursue further growth for Technal."

For further information contact:
Bill Young of Monitor Clipper Partners

Related Links:
http://www.technal.fr/fr