UNQUOTE

CVC to buy Mister Minit

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CVC Capital Partners today announces the intention to sign an agreement to acquire Mister Minit, the world's largest shoe repair and key cutting services chain from UBS Capital for an undisclosed sum. The transaction is being financed by funds managed by CVC and is subject to regulatory approvals. CVC was advised by Ernst & Young and Clifford Chance. Debt facilities were provided by Rabobank International.

Mister Minit, which is headquartered in Erembodegem in Belgium, has approximately 2,060 worldwide stores – the majority of these are based in Europe, but it also has a presence in Asia (primarily Japan), Australia and New Zealand. In the financial year ending March 2004, Mister Minit generated sales and franchise fees of €271.7million, EBITA of EUR 16.7m and EBITDA of EUR 27.2m.

The Minit Group’s other business lines include Minit Colors, a leading photo development and printing chain; the watch repair specialists Montre Service in France and In-Time in the UK, as well as two retail brands in Canada focusing on personalisation services (Things Engraved) and knife retailing (House of Knives).

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