ICG Enterprise Trust announces realisation of Froneri, its largest portfolio company

Cash proceeds of €41 million have been received

ICG Enterprise Trust (“ICGT”) is pleased to announce the realisation of Froneri. ICGT initially invested alongside PAI Partners in 2013 and reinvested in 2019. The investment in Froneri has delivered a strong return to ICGT, and cash proceeds from this realisation of €41 million have been received.

Froneri is a manufacturer and distributor of ice cream products and was ICGT’s largest company exposure at 31 July 2025, representing 2.7% of the Portfolio.

At 31 July 2025, ICGT had Total Available Liquidity of £187 million and a gearing ratio of 5%. Pro forma for this announcement, ICGT would have Total Available Liquidity of £223 million and a gearing ratio of 3%.

Enquiries

Analyst / Investor enquiries:

Martin Li, Shareholder Relations, ICG: +44 (0) 20 3545 1816
Nathan Brown, Deutsche Numis: +44 (0) 20 7260 1426
David Harris, Cadarn Capital: +44 (0) 20 7019 9042

Media:

Clare Glynn, Corporate Communications, ICG: +44 (0) 20 3545 1395

Website:

www.icg-enterprise.co.uk

About ICG Enterprise Trust

ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term compounding growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US.

We invest in companies directly as well as through funds managed by ICG and other leading managers who focus on creating long-term value and building sustainable growth through active management and strategic change.

We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.

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ICG Enterprise Trust announces realisation of Froneri, its largest portfolio company

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Media:

Website:

About ICG Enterprise Trust

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