Signature Group HoldingsがGRSAの買収完了、第三者アルミ再生のリーダーに

Signature Group Holdings, Inc.

2015/3/2 16:40

Signature Group HoldingsがGRSAの買収完了、第三者アルミ再生のリーダーに

AsiaNet 59639 (0299)

【シャーマンオークス(米カリフォルニア州)2015年2月28日PRN=共同通信JBN】

*時価総額3倍増のために同社が過去2年間とってきた一連の行動の頂点

*取引には多くの株主が参加する革新的な一括株主割り当て発行が含まれた

*-取引は75%、4200万ドルの応募超過だった

*-自動車用アルミニウムのトレンドに市場が関心の気配

Signature Group Holdings, Inc.(QTCQX:SGRH、以下Signatureまたは同社)は28日、株式非公開会社Aleris CorporationのGlobal Recycling and Specification Alloys(GRSA)事業を5億2500万ドルで買収する取引を完了したと発表した。Signatureは今後同事業を「Real Alloy」として経営する。

Real Alloyは世界最大の独立系アルミニウム再生会社となり、アルミニウム・スクラップ、くずを自動車、航空宇宙向けの製造、食品、飲料のパッケージ、建築、建設業界向けに最終利用できる質の高いアルミニウムに変える。その顧客は自動車メーカーとそのティア1、ティア2サプライアー、それに米国、カナダ、メキシコ、欧州のアルミニウム圧延工場である。Real Alloyは規模の経済性と北米、欧州における第三者アルミニウム再生の主導的な市場シェアを享受できる。

Signatureのクレイグ・ブシャールCEOは「この取引の完了を喜んでいる。これはわれわれが望んだもののすべて-優良企業の顧客基盤を持つ高度成長業界のリーダーと経験豊かな経営チーム-である。このチームは業界ナンバーワンの会社を築き上げ、わたしは北米、欧州の24工場の従業員1600人をSignatureファミリーに歓迎する」とコメントしている。

GRSA北米ディビジョンのテリー・ホーガン(Terry Hogan)副社長が2015年2月27日付でReal Alloyの社長に任命された。GRSA欧州事業のラッセル・バー(Russell Barr)副社長が同じく2015年2月27日付で欧州Real Alloyの執行副社長に就任する。

この取引は運輸、食品、水、エネルギーを含む分野に集中する安定した戦略的投資会社になるという公表済みの戦略に沿ったものであり、Signatureにとって変革的である。この取引の結果、同社は年間売上高が5000万ドル足らずから約15億ドルに増加し、フリーキャッシュフローが大幅なプラスになると見込んでいる。

▽革新的な取引構造の詳細

Signatureの子会社が3億500万ドルの公開取引手形(B2/B3)を発行し、総額1億7500万ドルの運転資金枠組みを取り決めるとともに、Signatureは約1億8000万ドルの株式持ち分をReal Alloyに払い込んで取引と完了手数料支払いを完了させた。Signatureはこれまでに取引のために払込資本を集めたと発表していた。最終的なエクイティー・ピースは革新的な一括株主割り当て発行構造だった。割り当て発行で5500万ドルが集まり、応募総数と超過応募申し込みは約9700万ドルだった。ブシャールCEOは「基本的な株主割り当て発行でわが社の株の80%に応募があったことはたいへんうれしい。さらに株主が申し込んだ超過応募は5200万ドル以上だった。これはこの割り当て発行の最大規模より4200万ドル多い。わが社の時価総額が3倍に成長した過去2年間に対する株主からのサポートの強力な表明に感謝している」と指摘している。

▽Signature Group Holdings, Inc. について

Signatureは北米に本社を置く持ち株会社で、米国の工業、商業市場に主として集中している大規模で経営状態がよく、一貫して利益を上げている企業への投資を行っている。Signatureは大きな資本リソースを持ち、9億ドル以上の連邦純営業損失税持ち越しがある。Signatureについての詳しい情報は同社ウェブサイト(www.signaturegroupholdings.com )へ。

▽株主割り当て発行について

Signatureの新株引受権証書の所有者については株主割り当て発行はいまも開かれており、趣意書によってのみ行使できる。趣意書の付録はこれまで同社によって証券委員会(SEC)にファイルされており、株主割り当て発行などの部分の失効日付は2015年4月28日のままである。このプレスリリースはここに記述されている証券の販売申し出や購入申し出の勧誘にあたるものではなく、その州の証券法の下で証券の登録、認証前にはこのような申し出、勧誘、証券の販売が違法ないかなる州においても、証券の提供、勧誘、販売があってはならない。カリフォルニア州事業監督委員会はこれら証券の購入を推奨も、支持もしていない。

▽投資家問い合わせ先

Jeff Crusinberry

+1-805-435-1255

investor.relations@signaturegroupholdings.com

ソース:Signature Group Holdings, Inc.

Signature Group Holdings Closes GRSA Acquisition Becomes Global Leader In Third-Party Aluminum Recycling

PR59639

SHERMAN OAKS, Calif., Feb. 28, 2015 /PRN=KYODO JBN/ --

    - This Marks the Culmination of a Series of Actions the Company Has Taken

Over the Past Two Years to Increase its Market Cap Threefold

    - Deal Included Innovative Stapled Rights Offering with Significant

Shareholder Participation:

    - * Deal Oversubscribed by 75% or $42 Million

    - * Indicative of Market Interest in Auto Aluminum Trend

    Signature Group Holdings, Inc. ("Signature" or the "Company") (OTCQX: SGRH)

announced today that it has completed the acquisition of the Global Recycling

and Specification Alloys ("GRSA") business of privately-held Aleris Corporation

for $525 million. Signature will operate the business going forward as "Real

Alloy."

    Real Alloy becomes the world's largest independent aluminum recycler,

converting aluminum scrap and dross into high quality aluminum for end use in

the automotive and aerospace manufacturing, food and beverage packaging, and

building and construction industries. Its customers are automotive

manufacturers and their tier one and tier two suppliers and aluminum rolling

mills in the US, Canada, Mexico and Europe.  Real Alloy enjoys economies of

scale and the lead market share in third party aluminum recycling in North

America and Europe.

    Signature's CEO Craig Bouchard commented, "We are delighted to complete

this transaction. It is everything we were looking for: a leader in a

high-growth industry with a blue-chip customer-base and an experienced

management team." Bouchard continued, "This team built the number one company

in its industry, and I welcome the 1,600 employees in 24 plants in North

America and Europe to the Signature family."

    Terry Hogan, Senior Vice President of GRSA's North America division has

been named President of Real Alloy effective February 27, 2015. Russell Barr,

Vice President of GRSA's European operations will serve as Executive Vice

President of Real Alloy Europe, also effective February 27, 2015.

    This deal is transformative for Signature, as it follows through on its

publicly announced strategy to become a stable, strategic investor focused on

sectors that include transportation, food, water and energy. As a result of the

deal, the Company expects its annual revenues will increase from less than $50

million to approximately $1.5 billion, with significantly positive free cash

flow.

    Details on the Innovative Deal Structure

    A Signature subsidiary issued publicly traded notes of $305 million

(B2/B3), and along with arranging for working capital facilities aggregating

$175 million, Signature contributed over $180 million of equity into Real Alloy

to complete the transaction and pay closing fees.  Signature previously

announced that it had raised equity capital for the transaction.  The final

equity piece was an innovative Stapled Rights Offering structure. The offering

raised $55 million, with total subscription and over-subscription requests for

over $97 million. Bouchard noted:  "We are very pleased that over 80% of our

shares were subscribed for in the basic rights offering. In addition,

shareholders requested over-subscriptions for more than $52 million. This led

to $42 million more subscriptions than the maximum size of the offering. We

appreciate the strong show of support from shareholders over the past two years

as our market cap has grown threefold."

    About Signature Group Holdings, Inc.

    Signature is a North America-based holding company seeking to invest its

capital in large, well-managed and consistently profitable businesses

concentrated primarily in the United States industrial and commercial

marketplace. Signature has significant capital resources, and federal net

operating loss tax carryforwards of more than $900 million. For more

information about Signature, visit its corporate website at

www.signaturegroupholdings.com.

    About this Rights Offering

    The Rights Offering remains open with respect to the holders of Signature's

warrants and is being made only by means of a prospectus. A prospectus

supplement has previously been filed with the Securities and Exchange

Commission by the Company, and the expiration date for such portion of the

Rights Offering remains April 28, 2015. This press release shall not constitute

an offer to sell or a solicitation of an offer to buy the securities described

herein, nor shall there be any offer, solicitation or sale of the securities in

any state or jurisdiction in which such offer, solicitation or sale would be

unlawful prior to the registration or qualification of the securities under the

securities laws of such state or jurisdiction. THE COMMISSIONER OF BUSINESS

OVERSIGHT OF THE STATE OF CALIFORNIA DOES NOT RECOMMEND OR ENDORSE THE PURCHASE

OF THESE SECURITIES.

    Cautionary Statement Regarding Forward-Looking Statements

    This release contains forward-looking statements, which are based on its

current expectations, estimates, and projections about Signature's and Real

Alloy's businesses and prospects, as well as management's beliefs, and certain

assumptions made by management. Words such as "anticipates," "expects,"

"intends," "plans," "believes," "seeks," "estimates," "may," "should," "will"

and variations of these words are intended to identify forward-looking

statements. Such statements speak only as of the date hereof and are subject to

change. Signature undertakes no obligation to revise or update publicly any

forward-looking statements for any reason. These statements include, but are

not limited to, statements about Signature's and Real Alloy's expansion and

business strategies; anticipated growth opportunities; the amount of

capital-raising necessary to achieve those strategies, as well as future

performance, growth, operating results, financial condition and prospects. Such

statements are not guarantees of future performance and are subject to certain

risks, uncertainties, and assumptions that are difficult to predict.

Accordingly, actual results could differ materially and adversely from those

expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited

to Signature's ability to successfully identify, consummate and integrate the

acquisitions of Real Alloy and/or other businesses; the acceptance of the

Company's stock for listing on NASDAQ or another exchange; changes in business

or other market conditions; the difficulty of keeping expense growth at modest

levels while increasing revenues; Signature's ability to successfully defend

against current and new litigation matters: as well as demands by investment

banks for defense, indemnity, and contribution claims; obtaining the expected

benefits of the reincorporation; Signature's ability to access and realize

value from its federal net operating loss tax carryforwards; and other risks

detailed from time to time in Signature's Securities and Exchange Commission

filings, including but not limited to the most recently filed Annual Report on

Form 10-K and subsequent reports filed on Forms 10-Q and 8-K.

    Investor Contact:

    Jeff Crusinberry

    +1-805-435-1255

    investor.relations@signaturegroupholdings.com

SOURCE  Signature Group Holdings, Inc.

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