São Paulo, June 9, 2014 - GP Investments, Ltd., with its head office at 129, Front Street, Penthouse, Hamilton HM 12, Bermuda ("GP Investments") hereby announces the sale of equity investment in Sascar Participações S.A. ("Sascar" or the "Company") held by GP Capital Partners V, L.P. Fund ("GPCPV"), to Compagnie Financiere du Groupe Michelin "Senard et Cie", a company that holds all industrial and commercial companies and research activities of Groupe Michelin outside France. The deal comprises 100% of Sascar's shares, with other shareholders and co-investors being parties to the purchase and sale agreement, which is subject to certain precedent conditions including the approval of the Brazilian Antitrust Agency (Conselho Administrativo de Defesa Economica - CADE).
Founded 15 years ago, Sascar is Brazil's leading fleet management and cargo tracking services firm. The transaction value was based on an enterprise value of R$1.6 billion (around US$ 714 million) for Sascar. Alongside BRZ Investimentos' fund, GPCPV owns 56% of Sascar's total capital. GPCPV will receive approximately US$260 million for its 46% stake in the company.
GPCPV's total investment in Sascar will generate a cash-on-cash multiple of 2.6x and an estimated IRR of 33% in U.S. Dollars terms in about three years (or 3.5x cash-on-cash multiple and 45% IRR in Brazilian Reais). The transaction value is subject to the adjustments set forth in the definitive agreements.
Under GP Investments' leadership, Sascar has become the largest player in Brazil's fleet management and cargo tracking industry. GPCPV acquired control of Sascar in March 2011 and led the execution of a strategy aimed at the Company's development through organic and M&A growth, technological innovation and the implementation of a results oriented and meritocratic organizational culture. Mr. Marcio Tabatchnik Trigueiro, a partner at GP Investments, was appointed CEO of Sascar upon its acquisition by GPCPV and led its team throughout this successful trajectory, delivering consistent improvements in both operational and financial metrics. As of the end of 2013, more than 230,000 vehicles were being served by Sascar's fleet management and tracking services; the Company's EBITDA for fiscal 2013 was R$106 million; the CAGR from the date of GPCPV acquisition was 32% and EBITDA margin rose from 31% to 38% in the period.
Itaú BBA and Barclays advised the sellers in the transaction.
About GP Investments
GP Investments, a leader in alternative investments in Latin America, has been actively investing in the region since 1993. GP Investments has raised more than US$5 billion with a
track record of 53 completed deals across 15 different sectors. In May 2006, GP Investments concluded its initial public offering, thus becoming the first listed private equity company in Latin America. For more information see GP Investments' web-site (www.gp-
investments.com).
About Sascar
Founded 15 years ago, Sascar is Brazil's leading fleet management and tracking services firm.
The company currently serves around 20,000 companies and 21,000 self-employed truckers, covering a total of 230,000 vehicles. Sascar has also joined Telefônica | Vivo in a commercial
partnership in order to provide tracking services for light commercial vehicles.
GP Investments, Ltd. is a Bermuda-based private equity and alternative investment company. The Companyâs operations comprise private equity, real estate and direct investment activities, including the management of limited partnerships. Its segments include private equity and real estate. In the private equity business, it invests to acquire control or joint control with the original owners with the objective of lead the invested company. In real estate business, it invests primarily at the asset level, directly in projects in the residential, office and retail segments. Its investment portfolio includes Spice Private Equity Ltd., Grupo SBF, BR Properties, and 2TM Group. It invests in approximately 15 sectors, such as industry, health services, mobile resource management, retail, logistics, real estate/shopping malls, Internet and technology, hotel, telecommunication, utilities, education, entertainment/restaurants, consumer goods, human resources (HR) services, and oil and gas.
GP INVESTMENTS, LTD. 
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