Airopack Technology Group AG
Airopack Technology Group AG: Strategic Partnership with funds affiliated with Apollo Global Management
EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Alliance Airopack Technology Group AG Strategic Partnership with funds affiliated with Apollo Global Management
Funds managed by affiliates of Apollo (the “Apollo Funds”) have committed to support the long-term growth of the Airopack(R) business through a mix of debt and equity investments totalling up to a maximum of EUR120 million, through a maximum of EUR80 million secured debt financing and a EUR40 million equity investment (the “Transaction”). The investment will primarily be used to finance capital expenditures, working capital, and, to a lesser extent, the buy-out ATG’s joint venture partner in Airolux AG (the “Buy-out”). Both ATG and the Apollo Funds believe that together they can accelerate the growth potential of Airopack by improving the time to market, reducing costs, and enhancing the organizational footprint. The Apollo Funds’ equity investment will be made through an ATG ordinary share capital increase at an issue price of CHF 11.22, subject to certain adjustments, and subject to the requisite approvals by ATG’s shareholders in a general meeting to be scheduled in Q1 2016. As part of the Transaction, the shareholders will also be asked to approve conditional share capital in order to grant the Apollo Funds warrants entitling them to purchase at nominal value 10% of the shares outstanding in ATG, calculated post completion of the capital increase. Q-Invest B.V., ATG’s largest shareholder, has committed to vote in favour of the Transaction. The Transaction is subject to the execution of the Buy-out, on which discussions with ATG’s joint venture partner have been initiated, and other customary closing conditions. ATG currently intends to continue its cooperation with its joint venture partner on the supply of PET preforms and container parts. The company will communicate further details on the Transaction as soon as reasonably practicable Commenting on the announcement, Quint Kelders, CEO of ATG stated: “We are extremely excited to be entering into a partnership with Apollo to enable Airopack(R) to achieve its unique growth potential. Apollo is a strong partner that will provide us with additional investments and strategic support which is required to meet today’s and future expectations of our customers. Together with Apollo we can further revolutionize the packaging industry by making dispensers cleaner, safer and cheaper.” Robert Seminara, Senior Partner for Apollo Private Equity, commented: “Given our deep heritage of investing in leading packaging companies, we are very excited to be partnering with Quint and the rest of the management team to expand Airopack’s global footprint.” Ralf Ackermann, Partner in Apollo Credit, added: “We are very pleased to enter into this transaction with ATG which draws upon Apollo’s deep expertise across the firm’s integrated platform and enables Quint and his team to build on Airopack’s success.” ATG have retained Greenhill & Co. as sole financial adviser for the transaction and are additionally being advised by Citadel International and OXEYE Advisors as well as Heron Legal, Froriep and Bryan Cave concerning Dutch, Swiss and English law respectively. For more information: Press inquiries: About Apollo Global Management Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Shanghai and Hong Kong. Apollo had assets under management of approximately $162 billion as of September 30, 2015 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has consideration knowledge and resources. For more information about Apollo, please visit www.agm.com.
End of ad hoc announcement 2015-12-17 News transmitted by EQS Schweiz AG. www.eqs.com – news archive: http://switzerland.eqs.com/de/News The issuer is responsible for the contents of the release. |
Language: | English | |
Company: | Airopack Technology Group AG | |
Zugerstrasse 76b | ||
6340 Baar | ||
Switzerland | ||
Phone: | +41 417663500 | |
Fax: | +41 417663509 | |
E-mail: | frans.vandervorst@airopackgroup.com | |
Internet: | www.airopackgroup.com | |
ISIN: | CH0242606942 | |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart; Open Market in Frankfurt ; SIX | |
End of News | EQS Group News Service |