FGI Provides €36MM ABL Facility for Acal BFi
London, April 13, 2022 – FGI Worldwide LLC (“FGI”), a multi-jurisdictional specialty lender, is proud to announce its support of H2 Equity Partners’ (“H2”) £50 million acquisition of Acal BFi from DiscoverIE Group plc (LSE: DSCV).
FGI provided a €36MM cross-border, multi-asset, committed credit facility in support of the acquisition and for ongoing working capital needs of the Company. Westbrooke Alternative Asset Management provided the mezzanine credit facility for the transaction.
Collateral: Receivables and Inventory
Jurisdictions: Seven jurisdictions across Europe
Uses: Acquisition finance + Ongoing working capital facility
Headquartered in the UK, Acal BFi is a leading pan-European supplier of advanced technical solutions and custom services focused on enhancing electronic applications in the areas of connectivity, sensors, communications, photonics, imaging, magnetics, power supplies, embedded computing, electronic testing, and measurement. The Company offers standard off-the-shelf products as well as custom solutions for complex designs across industries that include transportation, medical, industrials, renewable energy, aerospace and defense, and security.
H2 Equity Partners, founded in 1991, is a leading Western European hands-on investment firm focusing on the United Kingdom, Ireland, and the Benelux. The investment company targets mid-sized companies with significant growth or improvement potential.
“We knew our deal required a very specific financing structure and FGI drew up a one-stop solution that was just the right fit for us.” says Katherine Ho, Investment Director at H2. “FGI navigated across seven jurisdictions simultaneously and delivered on the funding that we needed.”
Sami Altaher, President of FGI, states “This has been one of the most complex deals we have seen at FGI in a while. I am incredibly proud of how our team stepped up to the challenge and provided a creative global financing for the Company. We look forward to our continued partnership with H2 and Acal BFi!”
Alvarez & Marsal and Lincoln International served as advisors to the transaction.
“FGI accomplished a commendable financing process. It was a pleasure collaborating with them on this transaction.” says Tim Metzgen, Head of Debt Advisory at Alvarez & Marsal.
FGI (www.FGIWW.com) is a global leader in the commercial finance and services industry, equipping small and medium enterprises with the tools they need to safely grow their business. FGI’s two principal business units, FGI Finance and FGI Risk, provide clients with flexible and customized lending, as well as risk mitigation solutions designed to support international and domestic growth. Headquartered in New York City, FGI maintains a presence on six continents with clients in over sixty countries around the world.