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SFNet's The 81st Annual Convention Issue
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November 18, 2021
Source: PR Newswire
Enhances Financial Flexibility to Accelerate Strategic Plan
LOUISVILLE, Ky., Nov. 17, 2021 /PRNewswire/ -- SGS & Co ("SGS" or the "Company"), a leading global provider of design and packaging artwork services to many of the world's biggest brands, and investment funds managed by SVPGlobal, a global investment firm with more than $18 billion in assets under management, as well as the largest existing holder of the Company's outstanding funded indebtedness, today announced that they have completed a recapitalization transaction to substantially strengthen SGS's balance sheet and position the business for continued growth.
Piyush Chaudhari, Chief Executive Officer of SGS & Co, said, "Over the last few years, we have made significant progress on our multi-year strategic plan to grow our business by investing in our employees, improving our cost structure, increasing our speed to market, and repositioning our commercial model. The transaction we completed today is an important next step in the process, as it will provide us a stronger financial foundation by which to accelerate our transformation. Moreover, it represents a vote of confidence in the business and the actions we are taking to position SGS for the future. We look forward to our continued partnership with SVPGlobal and moving forward as a stronger company that is even better able to deliver the creative and technical solutions that truly set SGS apart."
"SGS is a global leader with a strong business model and differentiated, innovative solutions and insights supporting some of the world's largest brands," said Victor Khosla, SVPGlobal's founder and Chief Investment Officer. "We are pleased to expand our partnership with the SGS team and are committed to supporting them as they drive growth and enable their clients to form deeper connections with consumers around the world."
As part of the transaction, SVPGlobal is investing significant new cash equity for a substantial majority of the Company's equity. In connection with the recapitalization, the Company closed a new senior secured credit facility and a new securitization facility.
Advisors
Evercore is serving as financial advisor to SGS and Fried, Frank, Harris, Shriver & Jacobson LLP is serving as its legal advisor. Gibson, Dunn & Crutcher LLP is serving as legal advisor to SVPGlobal. Financing for the transaction was led by HPS Investment Partners, LLC.
About SGS & Co
SGS & Co is a global brand impact group comprising nearly 5,000 teammates across 30+ countries that deliver speed and quality through innovation and insights to drive impact for our world class clients. We combine deep expertise in design, graphic services, production, technology and process optimization with unmatched innovation, marketplace understanding, dynamic ideas and a client first mentality to exceed client expectations today and anticipate client needs to win in the future. We take pride in our commitment to diversity, equity, and inclusion along with our ambition to lead the industry to a more sustainable future to drive positive impact for our clients, our people, and our planet.
About SVPGlobal
Strategic Value Partners, LLC and its affiliates ("SVPGlobal") is a global investment firm focused on distressed debt, special situations and private equity opportunities, with more than $18 billion in assets under management. The firm, established by Victor Khosla in 2001, has approximately 130 employees, including more than 50 investment professionals, across its main offices in Greenwich (CT), London and Tokyo. In total, SVPGlobal has invested more than $36 billion of capital since its inception in 2001 and led over 150 significant transactions. SVPGlobal is a signatory of the United Nations supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors committed to integrating environmental, social and governance (ESG) considerations into their investment decision making. Learn more at www.svpglobal.com.
Media Contacts
SGS
Aaron Palash / Meaghan Repko
Joele Frank, Wilkinson Brimmer Katcher
+1 212 355 4449
LOUISVILLE, Ky., Nov. 17, 2021 /PRNewswire/ -- SGS & Co ("SGS" or the "Company"), a leading global provider of design and packaging artwork services to many of the world's biggest brands, and investment funds managed by SVPGlobal, a global investment firm with more than $18 billion in assets under management, as well as the largest existing holder of the Company's outstanding funded indebtedness, today announced that they have completed a recapitalization transaction to substantially strengthen SGS's balance sheet and position the business for continued growth.
Piyush Chaudhari, Chief Executive Officer of SGS & Co, said, "Over the last few years, we have made significant progress on our multi-year strategic plan to grow our business by investing in our employees, improving our cost structure, increasing our speed to market, and repositioning our commercial model. The transaction we completed today is an important next step in the process, as it will provide us a stronger financial foundation by which to accelerate our transformation. Moreover, it represents a vote of confidence in the business and the actions we are taking to position SGS for the future. We look forward to our continued partnership with SVPGlobal and moving forward as a stronger company that is even better able to deliver the creative and technical solutions that truly set SGS apart."
"SGS is a global leader with a strong business model and differentiated, innovative solutions and insights supporting some of the world's largest brands," said Victor Khosla, SVPGlobal's founder and Chief Investment Officer. "We are pleased to expand our partnership with the SGS team and are committed to supporting them as they drive growth and enable their clients to form deeper connections with consumers around the world."
As part of the transaction, SVPGlobal is investing significant new cash equity for a substantial majority of the Company's equity. In connection with the recapitalization, the Company closed a new senior secured credit facility and a new securitization facility.
Advisors
Evercore is serving as financial advisor to SGS and Fried, Frank, Harris, Shriver & Jacobson LLP is serving as its legal advisor. Gibson, Dunn & Crutcher LLP is serving as legal advisor to SVPGlobal. Financing for the transaction was led by HPS Investment Partners, LLC.
About SGS & Co
SGS & Co is a global brand impact group comprising nearly 5,000 teammates across 30+ countries that deliver speed and quality through innovation and insights to drive impact for our world class clients. We combine deep expertise in design, graphic services, production, technology and process optimization with unmatched innovation, marketplace understanding, dynamic ideas and a client first mentality to exceed client expectations today and anticipate client needs to win in the future. We take pride in our commitment to diversity, equity, and inclusion along with our ambition to lead the industry to a more sustainable future to drive positive impact for our clients, our people, and our planet.
About SVPGlobal
Strategic Value Partners, LLC and its affiliates ("SVPGlobal") is a global investment firm focused on distressed debt, special situations and private equity opportunities, with more than $18 billion in assets under management. The firm, established by Victor Khosla in 2001, has approximately 130 employees, including more than 50 investment professionals, across its main offices in Greenwich (CT), London and Tokyo. In total, SVPGlobal has invested more than $36 billion of capital since its inception in 2001 and led over 150 significant transactions. SVPGlobal is a signatory of the United Nations supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors committed to integrating environmental, social and governance (ESG) considerations into their investment decision making. Learn more at www.svpglobal.com.
Media Contacts
SGS
Aaron Palash / Meaghan Repko
Joele Frank, Wilkinson Brimmer Katcher
+1 212 355 4449
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