Goldsmith Agio
Helms Announces the Sale of
the Assets of FLEX
Holdings
US, LLC
Minneapolis, Minnesota —
April 2, 2007: Goldsmith Agio Helms is
pleased to announce the sale of the assets of FLEX Holdings
US, LLC (“FLEX” or the “Company”), a portfolio company of
GSO Capital Partners (“GSO”), to
AXA
Private Equity
(“AXA”). FLEX is a German-based manufacturer of highly-engineered,
professional-grade power tools used primarily for specific niche applications
in the metal-working, stone, and concrete markets. The sale of FLEX
represents Goldsmith Agio Helms’ 12th trans-Atlantic assignment completed since January
2006.
TRANSACTION
HIGHLIGHTS
Multiple potential investors
expressed strong interest in FLEX, which has built a premier brand
through decades of innovation and a highly-focused, customer-centric
product development strategy. AXA prevailed
in part because of its strong focus
on partnering with quality management
teams
of middle-market European businesses with considerable growth potentential. AXA will partner with
FLEX’s management team to continue the Company’s success story. “In
AXA Private Equity we have found a strong partner, who
secures the management succession and will support our internationally
based growth target through its broad and well-established global network”, said Joerg Hempfing,
Managing Director of FLEX Group.
Steve Beck, Managing Director with Goldsmith
Agio Helms, concurred, “Significant growth opportunities lie ahead
for FLEX, particularly in the North American and Eastern European
markets. AXA is an ideal partner based on their demonstrated
success in taking privately held companies to the next stage by
devoting the talent and resources to grow the brand.”
Chris Haskett, Vice President at Goldsmith
Agio Helms, added, “FLEX is an extremely well-run company that
possesses numerous strategic attributes. The Company’s
industry-leading branded products, dedication to innovation, and
broad distribution network provide a strong platform for growth,
particularly given the opportunities for expansion into
under-penetrated geographic markets.”
Mike McFadden, Managing Director with
Goldsmith Agio Helms, commented, “The sale of FLEX to AXA is another
example of Goldsmith Agio Helms’ growing international M&A
presence. This transaction represents our firm’s 12th trans-Atlantic
assignment completed in the past 15 months and reflects the unique
value Agio International brings to our clients.” Agio
International is an exclusive equity partnership of Europe’s leading
middle-market investment banks and is headed by Goldsmith Agio
Helms.
THE
COMPANY
FLEX (www.flex-tools.com),
headquartered in Steinheim, Germany, is a leading manufacturer of
highly-engineered hand-held power tools, including grinders,
polishers, drills, saws, and other equipment used primarily for
specific niche applications in the professional metal-working,
stone, and concrete markets. Since its founding in 1923 near
Stuttgart, Germany, the home of the power tool industry, FLEX has
distinguished itself as the “Gold Standard” among professional
craftsmen through its innovative product offering of
highly-engineered specialty tools, as well as by its technical
leadership and service, which are backed by decades of engineering,
materials, process, and application
experience.
THE
SELLER
GSO
Capital Partners LP is an investment advisor managing over
$7.5 billion in various hedge fund and Collateralized Loan
Obligation ("CLO") vehicles. GSO has approximately 115 employees
with offices in New York, London, Houston and Los
Angeles.
THE
BUYER
AXA
Private Equity (www.axa-im.com) is a principal
investment firm headquartered in Paris, France. Founded in 1996, as a subsidiary of AXA
Investment Managers S.A., AXA Private Equity specializes in
leveraged buyouts (small-cap and mid-cap), venture capital, expansion
capital, and emerging market investments. With offices in Paris,
Frankfurt, London and New York, AXA manages and/or advises private
equity funds with combined assets in excess of
€10 billion for some of the world’s
leading
investors.
ABOUT
GOLDSMITH AGIO
HELMS
Goldsmith Agio
Helms (www.agio.com) is one of the nation's leading independent
investment banking firms providing sophisticated corporate finance advisory services to middle-market businesses. The firm's
services include mergers and acquisitions,
private placements of debt and equity, distressed advisory
and restructuring, and financial advisory and opinion services. The
firm operates internationally from its offices in Minneapolis, New
York, Chicago, Los Angeles, and
London.
If you would like more information about this transaction, contact Steve Beck (sbeck@agio.com) at
612-339-0500.
Minneapolis • 225 South Sixth Street • 46th
Floor • Minneapolis, MN 55402 •
612 339 0500
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8575
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Angeles, CA 90067 • 310 551
4111
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