In December 2019, Aero Services Global Group Limited ("ASG Group"), a Manchester-headquartered aerospace group, announced that it had structured a new unitranche facility to refinance its existing debt, fund the acquisition of AMF Precision Engineering and provide growth financing to support future expansion. The financing was provided by Magnetar Capital ("Magnetar") with supplemental working capital facilities provided by Close Brothers Invoice Finance.
ASG Group, which is part of A2E Industries Ltd.’s ("A2E") investment portfolio, is a leading aerospace supplier of detailed parts and machined components. The company manufactures high-precision metal components and provides tooling solutions to the aerospace industry.
Duff & Phelps’ Debt Advisory team acted as exclusive financial advisor to ASG Group in connection with the refinancing. Mayer Brown served as legal counsel to Magnetar, and Gateley Plc and Shoosmiths LLP served as legal counsel to ASG Group on the refinancing.
Paul Teuten, Managing Director at Duff & Phelps, said: "We are delighted to have arranged a flexible financing package which enables ASG Group to focus on its next phase of growth. In Magnetar they have a supportive and equally ambitious financial partner."
Simon Weston, Managing Director, ASG Group, stated: "We are very excited about working with Magnetar as our new financial partner. Magnetar’s ambition and commitment mirrors our own, and together this partnership will help further develop ASG Group’s business offer to the marketplace. Magnetar was instrumental in the purchase of our most recent investment, the Zimmerman FZ233, which will be installed into our Long Bed machining center of excellence at TGM Preston."
Amin Amiri, CEO and Founder of A2E, commented: "We commenced creating a unique aerospace group in December 2015. ASG Group, after seven acquisitions, now boasts revenues of GBP 42 million and EBITDA of GBP 6.2 million. We have ambitious plans and are delighted to have a partner in Magnetar, not just for the funding but also their desire to support the Board of ASG Group through the next stage of growth."
About A2E Industries Ltd.
A2E is a Manchester-based industrial conglomerate, founded by prolific entrepreneur Amin Amiri. Since 2001, A2E has specialized in investing in mid-market industrial/manufacturing businesses. It boasts a combined turnover of GBP 120 million and EBITDA of GBP 14 million. Since first investing in 2001, ASG Group has grown through ambitious and tailored acquisitions of seven manufacturing and engineering companies. The company is comprised of two business divisions: Aerostructures and Tooling.
Founded in 2005, Magnetar is a $12.5bn* multi-strategy alternative investment manager that seeks to achieve stable risk-adjusted returns by opportunistically employing a wide range of alternative credit and fixed income, energy and infrastructure, and systematic investing strategies. Magnetar invests across geographies, business structures, and public and private markets, leveraging the deep rigor of fundamental and quantitative analysis. The firm is headquartered in Evanston, Illinois and operates satellite offices in New York, London and Houston.
*The assets under management figure includes assets managed by Magnetar and its affiliated investment managers, including designated investments in side pockets and unfunded commitments (money committed to any fund managed by Magnetar and its affiliated investment managers as of the report date, but not yet transferred by the investors) as of October 2019.
Comprehensive support throughout mergers and acquisitions and other corporate transactions.
Private Capital Markets
Senior, subordinated and mezzanine debt and venture/private equity for a wide range of transactions.
Middle-market M&A advisory differentiated by industry expertise and superior deal execution.
Aerospace Defense and Government Services (ADG) M&A
Strategic and financial advisory for Aerospace Defense and Government Services clients worldwide.
Transaction Advisory Services
Seamless analytical advisory through the deal continuum, from transaction origination to closing.
Financial Sponsors Group
Dedicated coverage and access to M&A deal-flow for financial sponsors.
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