ACON Investments Acquires Florimex
Washington, D.C., November 1, 2001 -- ACON Investments, LLC, a Washington, D.C.-based private equity firm, announced today that it has completed its acquisition of Florimex worldwide, the former International Division of U.S.A. Floral Products, Inc. The purchase includes all of Florimex's operations in Europe, Africa, Asia, and Latin America. Terms of the transaction were not disclosed. Other investor groups organized by ACON, along with the company's management, participated in the acquisition.
According to Dwight Ferguson, President of Florimex, "ACON's purchase of Florimex is welcomed news to our employees, customers, and suppliers worldwide. ACON's investment will significantly reduce our indebtedness, and provide the financing for our continued growth. All of us at Florimex are thankful this transaction has closed, and excited about our future under ACON's ownership."
ACON is an international private equity investment firm, which manages investments in the United States, Europe, and Latin America. ACON was founded in 1995, and manages partnerships worth approximately $440 million. ACON's partnerships typically include sophisticated institutional investors from the U.S., Europe, and Latin America. Among its activities, ACON is affiliated with Texas Pacific Group (TPG). TPG manages over $ 5.7 billion worldwide. ACON's investment philosophy is to identify opportunities in industries with attractive dynamics, and to pursue those opportunities in partnership with established management teams.
Contact:
Ken Brotman, Acon Investments, 202-454-1111
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