The merger agreement is subject to approval by the stockholders of AGY and certain other customary conditions. AGY is mailing to its stockholders an information statement about the merger agreement, the estimated per share proceeds, the escrow and other matters. Houlihan Lokey Howard & Zukin Financial Advisors, Inc. has delivered an opinion to the Board of Directors of AGY that the total enterprise value of approximately $283 million, which includes the assumed obligations, is fair to AGY and its stockholders from a financial point of view.
AGY is a world leader in high performance materials in the form of glass fiber yarns that are used in a broad range of markets, including automotive, construction, defense, electronics, aerospace, marine and recreation.
Founded in 1987, Kohlberg & Company is a private equity firm with offices in Mt. Kisco, New York and Palo Alto, California. Together with its affiliates, Kohlberg manages more $3.7 billion of capital. Through its affiliates, Kohlberg has completed over 75 acquisitions and recapitalization transactions in a variety of industries, including a focus on investments in the manufacturing, healthcare, consumer products and service industries.