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Candover Investments (CDI)

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Wednesday 17 May, 2006

Candover Investments

Candover acquires EurotaxGlass's Group

For immediate release 17th May 2006

Candover acquires EurotaxGlass's Group, a leading provider of automotive data 
and intelligence services, for an enterprise value of €480 million

Candover*, a leading European buyout specialist, announces that it has signed
an agreement to acquire EurotaxGlass's (ETG), an HM Capital Partners LLC
(formerly Hicks, Muse, Tate & Furst Incorporated) company for an enterprise
value of €480 million, which includes an undisclosed cash element. This is the
second investment to be made from the €3.5 billion Candover 2005 Fund, which
had its final closing in November 2005.

ETG was formed by HM Capital following the acquisitions of Glass's Information
Systems Ltd in 1998 and Eurotax AG in 2000. The company collects a wide variety
of automotive data including new car pricing, used car valuations, technical
specifications, repair and maintenance part lists and pricing, and technical
reference materials for more than 500,000 vehicle variants from 1,000
manufacturers. ETG distils this data into commercially valuable analysis which
is sold in 28 countries across Europe to more than 150,000 customers. The
company is headquartered in Freienbach, Switzerland.

Candover is backing an experienced management team led by Kevin Gaskell, CEO.
Since joining ETG in 2001, Kevin and his team have integrated and restructured
the business to deliver consistent profit growth during a period of significant
market change. The business is now uniquely positioned to deliver growth in its
core European markets; the UK, Germany, Switzerland and Austria, offering new
products for existing clients as well as rolling out across new European

Equity funding will be provided by the Candover 2005 Fund and management, with
debt and mezzanine financing arranged and underwritten by Bank of Scotland.

Kevin Gaskell, CEO of ETG, commented:

"Continuing to meet the expectations of an increasingly sophisticated customer
base will remain our priority, and the rolling out of new, high value digital
solutions will be a key part of this strategy. Candover has a depth of
understanding of both the automotive and the intelligence sectors and their
backing will be critical as we enter the next phase of our development. ETG has
identified significant growth opportunities across existing and new territories
and we are now well placed to continue to build on our strong position in

Commenting on the transaction, Charlie Green, Managing Director of Candover,

"ETG fits Candover's investment criteria well; we seek to back strong
management teams operating in sectors with attractive market dynamics and high
barriers to entry. ETG occupies a unique position as the only provider of
comprehensive automotive intelligence on a pan-European basis, and it has a
strong management team with an excellent track record of operational
improvement. The business is well invested and cash generative and capable of
delivering strong organic growth. We are very excited to be backing Kevin and
his team and look forward to working closely with them."

The Candover team was led by Charlie Green and Marek Gumienny, Managing
Directors, and Simon Holden and Emma Wilkinson, Investment Managers.

HM Capital and management were advised by JPMorgan. Candover was advised by
Goldman Sachs International and LongAcre Partners (advisory),
PricewaterhouseCoopers (accountancy), Deloitte (tax) and Clifford Chance


*Candover means Candover Investments plc and / or one or more of its
subsidiaries, including Candover Partners Limited as General Partner of the
Candover 1994, 1997 and 2001 Funds and as Manager of the Candover 2005 Fund.

For further information, please contact:

For Candover:

Charlie Green / Simon Holden +44 (0) 207 489 9848

Tulchan Communications

Julie Foster / Peter Hewer +44 (0) 20 7353 4200

For EurotaxGlass:

Peter Cox / Peter Haynes at Automotive PR Tel: +44 (0) 207 494 8050

Mob: +44 (0) 7980 548794

Email: [email protected]

Notes to Editors

Candover is a leading provider of private equity for large European buyouts.
Founded in 1980, Candover has invested in 127 transactions with a value in
excess of €37 billion. Investment in deals by Candover is provided in two
forms, from Candover Investments plc, a publicly quoted investment trust, and
from funds managed by Candover Partners Limited, a wholly owned subsidiary.

Candover has previous expertise in the data, solutions and business
intelligence market following investments in Bureau van Dijk Electronic
Publishing and Wood Mackenzie as well as experience of the automotive sector
via its investments in Camden Motors and Thule. This will be Candover's second
investment of an international business headquartered in Switzerland, having
invested in Swissport in 2002, the leading global ground-handling service
provider, and successfully exited in 2005.

The Candover Group has three offices in London, Paris and Düsseldorf, and a
local advisor in Madrid. Candover Partners is authorised and regulated by the
Financial Services Authority in the UK.

Candover Partners Limited 20 Old Bailey London EC4M 7LN Telephone +44 (0)20
7489 9848 Fax +44 (0)20 7248 5483

e-mail [email protected] .com Authorised and regulated by the
Financial Services Authority.


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