Traxys Management to Increase its Stake in
Traxys as Part of Transaction
Global alternative asset manager The Carlyle Group (NASDAQ: CG),
together with affiliates of Louis M. Bacon, the founder, Chairman,
Chief Executive Officer and principal investment manager of Moore
Capital Management, LP, have agreed to acquire a majority interest
in the Traxys Group, a physical metals and minerals commodity
merchant, logistics and trading firm. As part of the transaction,
Traxys management will increase its investment stake in the
company.
The transaction is subject to customary closing conditions
including required regulatory approvals and is expected to close in
the third quarter of 2014. Carlyle, Mr. Bacon and Traxys management
are acquiring their stake from Pegasus Capital Advisors, Kelso
& Company and Resource Capital Funds.
Traxys is a provider of marketing, distribution and supply chain
management services to the metals and natural resources sectors.
The company also provides value-added services to commodity
producers and consumers including logistics, offtake, hedging,
financing and distribution. In addition, Traxys pursues
opportunistic, direct investments in infrastructure assets and
commodity producers that complement its core business
activities.
Alan Docter, Chairman of Traxys, stated, “This is an excellent
time for us to move Traxys forward with Carlyle and Mr. Bacon.
Based on my decades of experience in the industry, I view this as a
great opportunity and a perfect time to strengthen our capabilities
and continue to grow and invest in Traxys for the future. We are
thankful to Pegasus Capital Advisors, Kelso & Company and
Resource Capital Funds who have been great partners with us.”
Mark Kristoff, Chief Executive Officer of Traxys, said, “Traxys
is a healthy and profitable business and a leader in the global
metals and mining raw materials markets. We have a strong
management team and highly dedicated employees with extensive
expertise, and we are grateful to them for their contributions to
Traxys’ success with our existing partners. We are excited about
the future of the raw materials markets and believe we are at an
optimal stage to build for the future with two very well-respected
and experienced investors with truly global reach.”
David Stonehill, Carlyle Managing Director, said, “We are
impressed by the diverse, global capabilities of Traxys and the
growth potential of the platform. We have known Alan, Mark and the
Traxys team for several years and look forward to supporting the
team in its next phase of growth.”
Equity capital for Carlyle’s investment in Traxys will come from
Carlyle’s U.S. Equity Opportunity Fund L.P.
Morgan Stanley acted as financial advisor to Traxys in the
transaction.
About Traxys
Traxys is a leading physical commodity trader and merchant in
the metals and natural resources sectors. Its logistics, marketing,
distribution, supply chain management and trading activities are
conducted by over 300 employees, in over 20 offices worldwide, and
its annual turnover is in excess of $6 billion. Traxys is
headquartered in Luxembourg.
Web: www.Traxys.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with approximately $189 billion of assets under management
across 118 funds and 100 fund of funds vehicles as of December 31,
2013. Carlyle's purpose is to invest wisely and create value on
behalf of its investors, many of whom are public pensions. Carlyle
invests across four segments – Corporate Private Equity, Real
Assets, Global Market Strategies and Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
consumer & retail, energy, financial services, aerospace,
defense & government services, healthcare, industrial, real
estate, technology & business services, telecommunications
& media and transportation. The Carlyle Group employs more than
1,500 people in 34 offices across six continents.
Web: www.carlyle.comVideos: www.youtube.com/onecarlyleTweets: www.twitter.com/onecarlylePodcasts: www.carlyle.com/about-carlyle/market-commentary
About Louis Bacon
Louis Moore Bacon is the founder, Chairman, Chief Executive
Officer and principal investment manager of Moore Capital
Management, LP. Moore Capital, founded in March 1989, is a private
investment management firm that invests in the global financial
markets and private equity markets. Moore is headquartered in New
York, with additional offices in London and Hong Kong.
About Pegasus Capital Advisors
Pegasus Capital Advisors, L.P. is a private equity fund manager
that has been providing creative capital and strategic solutions to
companies across a variety of industries since 1995. Pegasus
partners with management teams of growth companies, with a focus on
those that benefit from the business implications of global
resource scarcity. Sectors where this trend is most pronounced are
food, water, energy, health & wellness and security.
About Kelso & Company
Kelso & Company is one of the oldest and most experienced
firms investing in private equity, with more than three decades of
investment experience. Kelso focuses on making North American
middle-market private equity investments and has raised a total of
eight private equity funds with aggregate limited partner
commitments in excess of $9.8 billion. Since 1980, the Kelso funds
have made over 110 investments across eight industry sectors in
which Kelso has a history of success. Kelso’s employees have
collectively been the largest investor in the Kelso funds, which
creates a significant alignment of interest with limited partners
and management teams.
About Resource Capital Funds
Resource Capital Funds ("RCF" or the "Funds") are private equity
funds with mandates to make investments exclusively in the mining
sector across a diversified range of hard mineral commodities and
geographic regions. The Funds are managed by RCF Management L.L.C.
which has its principal office in Denver and additional offices in
Perth, New York (Long Island) and Toronto. RCF pioneered the
concept of mining-focused private equity funds and strives to
produce superior returns to its investors, portfolio companies and
fellow equity investors. Since inception, RCF has supported 118
mining companies (and several mining-services companies) involving
projects located in 40 countries and relating to 28
commodities.
The Carlyle GroupLiz Gill,
+1-202-729-5385elizabeth.gill@carlyle.comorTraxys GroupMark
Kristoff, CEO, +1-212-918-8000mark.kristoff@traxys.com
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