JACKSONVILLE, Fla.,
Jan. 7, 2016 /PRNewswire/ -- APR
Energy plc (the "Company") (LSE: APR), a global leader in
fast-track power solutions, announces today that an offer by a
consortium of investors (the "Consortium") to acquire the Company
was declared unconditionally successful on 5 January. The
Consortium comprises Fairfax Financial Holdings Limited, ACON
Equity Management and Albright Capital Management, and brings
substantial financial backing to support the Company's business
initiatives, including committing more than $200 million in fresh equity capital to reduce
debt and increase working capital.
"This is a significant milestone in the evolution of APR
Energy," said Executive Chairman John
Campion. "We are pleased to be working alongside a group
that truly understands our business and our market – and that
shares our longer-term vision. Our new investors bring significant
strategic value to our business, including global relationships, a
sophisticated understanding of international finance and extensive
experience investing in global power markets. Their significant
investment reflects a strong belief in our business, our market and
our management team, and we expect them to be great partners as we
grow the Company and continue to serve our expanding base of global
customers.
"This transaction clearly makes us stronger, and will pay down
debt, increase working capital and enable us to approach the longer
term with renewed confidence."
Chief Executive Officer Laurence
Anderson said, "With these new partners, we will have
greater flexibility to manage through the short-term variations in
our business cycle while staying focused on our longer-term growth
objectives. We also will have access to additional capital to fund
growth initiatives."
Anderson said that during the transition process, and afterward,
"Our customers, partners and suppliers can expect us to continue to
build upon our already high level of customer service, driving
operational excellence and delivering reliable, essential
electricity around the world."
About APR Energy
APR Energy is the world's leading provider of fast-track mobile
turbine power. Our fast, flexible and full-service power solutions
provide customers with rapid access to reliable electricity when
and where they need it, for as long as they need it. Combining
state-of-the-art, fuel-efficient technology with industry-leading
expertise, our scalable turnkey plants help run cities, countries
and industries around the world, in both developed and developing
markets. For more information, visit the Company's website at
www.aprenergy.com.
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SOURCE APR Energy