FGI Provides $25MM Facility to Support Atar’s Acquisition of a Panasonic Carve-out

“I am thoroughly impressed with the speed and delivery everyone at FGI operates at. Not only was our deal complicated by the simultaneous acquisition of three separate trading companies with multiple asset classes, but even more so by the nuances of doing business internationally. We needed financing from a group with a proven track record of operating in Mexico, which is where FGI came in. FGI was able to structure the deal efficiently and professionally, especially operating within our accelerated timeline of less than 4 weeks. We are incredibly impressed with FGI’s exhibition of flexibility and cultural consideration. I can assure you we will be closing more deals together in short order. Thanks again!”

— Cyrus Nikou,
Founder and Managing Partner, Atar Capital

Headquartered in Los Angeles, California, Atar Capital is a dynamic global private investment firm dedicated to acquiring a wide range of lower middle market businesses exhibiting opportunities for growth, revitalization and significant value creation. They are an incredibly ambitious company focused on growth, having completed seven platform acquisitions in the last four years alone.

An exciting opportunity arose for Atar. They saw great value in acquiring three different companies operating in sophisticated commercial lighting sector namely Universal Lighting Technologies, Douglas Lighting Controls, and Componentes Universales de Matamoros, led by the Japanese parent company, Panasonic. The acquisition of these businesses would enable the creation of a group that would support the rapidly growing commercial lighting industry with a focus on more sophisticated and eco-friendly products. The timeline was tight with multiple buyer groups and Atar needed to work quickly. One particular challenge was to find a lending group who could structure a cross-border ABL facility to include Mexico which was a major component in the overall operation.

Leveraging their extensive international operational skills, FGI structured a timetable to complete the deal within the confines of Atar’s tight timeline and provide certainty of execution. FGI was able to provide Atar with a flexible ABL facility, resulting in the successful completion of the acquisition. Now officially under Atar’s control, the three corporations will be operating under one company, being renamed to Universal Douglas Lighting Americas, Inc. They are excited to capitalize on the potential of working in a new structure and look forward to continued growth.