AGP Group Announces US$250 Million Expansion Debt Financing

GHENT, Belgium–(BUSINESS WIRE)–The AGP Group (“AGP” or “the Company”), a global leader in the design and production of specialty automotive glazing components, today announced that it has entered into a debt financing agreement together with OMERS Capital Markets (“OMERS”) and BMO Financial Group (“BMO”) will provide up to US$250 million in a senior secured term loan facility. AGP intends to use the proceeds to fund the continued acceleration of the company’s global expansion plans, including the completion of a new state-of-the-art North American production facility. The funding follows a strategic partnership and investment, announced in April 2021, by funds affiliated with BDT Capital Partners, LLC (“BDT”), a merchant bank that provides family and founder-led businesses with a long-term differentiated capital.

“Electrification and automation are driving significant changes in the way glass is incorporated into vehicle design, with cost and space optimization, energy efficiency and passenger experience, resulting in a growing demand for larger, more complex and technologically advanced glazed surfaces,” said Arturo Mannheim, CEO and Chairman of the Board of AGP Group. “AGP’s R&D-driven competitive advantages across multiple technologies are aligned with changing industry needs, making us a go-to design and supply partner for traditional OEMs, leading start-ups of electric vehicles and technology leaders entering the industry. We appreciate the support of OMERS and BMO, as well as our continued partnership with BDT, which positions us well as we expand our platform to supply global OEMs in all major markets.

“We are proud to announce our participation in AGP’s secured debt financing. Reflecting its more than 50 years of global leadership in the specialty glass industry, AGP’s established reputation and customer relationships, coupled with its state-of-the-art manufacturing facilities and comprehensive technology capabilities, position the at the forefront of this high-growth market segment. We are particularly excited about AGP’s pipeline of opportunities related to the global transition to electric vehicles,” said Michael Block, Senior Managing Director, Capital Solutions, for OMERS Capital Markets. “The terms of this financing reflect our confidence in AGP’s experienced management team and strong track record of performance, and align closely with Capital Solutions’ flexible financing approach.

“An undisputed leader in the complex glazing solutions industry with a history of partnering with the world’s major automakers, AGP is well positioned to continue its global expansion,” said Alan Tannenbaum, Global Investment & Corporate Banking, BMO Capital. Markets. “As part of our goal to boldly develop good, in business and lifeBMO is proud to partner with a company whose product is an integral part of the growing transition to electrification.

About AGP Group

The AGP group is one of the world’s leading glass manufacturers. AGP Group has developed a broad portfolio of products for the automotive, marine and security markets. With around 3,000 employees from more than 50 different nationalities, the company provides high-tech glazing solutions to more than 20 automotive brands that are shaping the future of mobility through electrification and autonomous driving. AGP has seven manufacturing plants and four technology innovation centers in Europe, North and South America as well as sales offices in 20 countries. For more information, visit agpglass.com.

About OMERS Capital Markets and OMERS

OMERS Capital Markets is the capital markets investment arm of OMERS, one of Canada’s largest defined benefit pension plans. Capital Markets’ diverse programs, flexible investment strategies and specialized teams, including public equities, private credit and structured investments, allow it to seize opportunities that fall outside of traditional categories. Through its global Capital Solutions team, it identifies and executes complex opportunities across a number of themes, including decarbonization, clean technology and life sciences. Founded in 1962, OMERS manages $121 billion in net assets as of December 31, 2021. OMERS has employees in Toronto and other major cities in North America, the United Kingdom, continental Europe, Asia and Australia.

About BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion as of January 31, 2022 and a diverse and highly engaged team of employees, BMO offers a wide range of personal and commercial banking, wealth management and investment banking products and services. investment to more than 12 million customers and leads through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

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