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ICAPE Group, a global technology distributor of printed circuit boards (PCBs) and custom electronic parts, announces the acquisition of a stake in the company by Luxembourg-domiciled Farringdon European Opportunities following the off-market sale, by its Chairman and Founder, Mr. Thierry Ballenghien, of a block of 150,000 shares, marking a new phase in its development.
ICAPE Group announces that the Farringdon European Opportunities fund has acquired a stake in its capital. Farringdon European Opportunities is a long-only fund focused on European companies where it believes the market is materially misvaluing long-term fundamentals — a view shared by ICAPE's Founder and Chairman, Mr. Thierry Ballenghien.
The transaction serves two purposes: it increases the liquidity of ICAPE's stock, and it introduces a well-respected, long-term investor with a strong track record to the shareholder register. Both are expected to be beneficial to the company and its shareholders over time. It also marks a new phase in the Group’s development and in its growth ambition.
The deal was structured as an off-market sale of 150,000 shares by Mr. Ballenghien via his family holding company, Balwen Holding, representing 1.85% of ICAPE's share capital.
Following this transaction, Mr. Ballenghien holds 49.1% of ICAPE's share capital (compared to 50.96% previously), falling below the 50% ownership threshold. He retains control of the company with 55.88% of voting rights held directly and through Balwen Holding (compared to 57.43% previously), as well as a dominant position within the group of parties to the shareholders' agreement in effect since 12 April 2022.
