Vexiom Corporation Acquired by TBC Holdings, Inc.
Vexiom Aligns around Core Industries: Infrastructure, Energy, Technology, and Services.
Atlanta, GA, October 04, 2008 --(PR.com)-- TBC Holdings, Inc. a private holding company which manages a diversified portfolio of businesses operating in sectors that include financial services, real estate, consumer, media and entertainment industries today announced to acquire all of the outstanding shares of Vexiom Corporation that it does not currently own in a stock-for-stock transaction. TBC Holdings, Inc. currently owns approximately 81.7 percent of the approximately 100 million shares of Vexiom Corporation common stock outstanding. TBC Holdings, Inc. offer was made directly to Vexiom Corporation stockholders; the financial terms were not disclosed and will not be conditioned upon any requirement for recommendation of its offer by the independent directors of Vexiom Corporation.
The transaction was structured through a management buyout led by Vexiom Corporation CEO, Tyler L. Barr and a group of accredited investors managed and advised by Atlanta based Vexiom Capital, L.P., with approximately $1 billion under management throughout a variety of funds, recently spun off from Vexiom Corporation as an independently operated investment banking firm, now manage and control by TBC Holdings, Inc. In addition, Vexiom Corporation completed a divesture of several business assets and announced the completion of a corporate organizational restructure that simplifies the company and aligns businesses for growth and efficiency.
Barr said, “Vexiom is a global infrastructure, energy, technology and services company that is well positioned to capitalize on some of the major growth opportunities of this era. With the Consumer, Healthcare, Media and Financial spin-off, we can structure the company in a simpler way that can maximize future growth.” Effective immediately, Vexiom moves from eight to four segments. We have been upgrading our portfolio of businesses and simplifying our organizations for market focus, efficiency and execution,” Barr said. “We have higher-growth, higher-margin businesses and organizationally have simplified the company to four segments today. At the same time, we have structured the company to best utilize our strong leadership team while maximizing synergy and execution.”
Upon the closing of the transaction, Vexiom Corporation will become one the largest and most profitable operating business of TBC Holdings, Inc. Under the terms of the merger agreement, TBC Holdings, Inc. strategy will acquire Vexiom Corporation and initiate the preparation to become a publicly traded company listed on the Nasdaq or OTCBB market. The plan, which would value the company at $300 million to $500 million, is part of a complex deal in which Vexiom Corporation becomes a publicly traded company without formally selling new shares in the company. After the deal is completed, 21 percent of the company shares will be sold on the open market, while 79 percent of the shares will remain in the hands of TBC Holdings, Inc.
In connection with the execution of the transaction agreement, Vexiom Capital, L.P. has agreed to provide to the company up to $50 million in additional equity financing on terms commensurate with the valuation of shares to be issued to TBC Holdings, Inc. These funds will be used by TBC Holdings, Inc. to complete the transaction. The financing arrangements have been approved separately by an independent Committee of TBC Holdings, Inc. Board of Directors.
About Vexiom Corporation
Vexiom Corporation (“Vexiom”) is a global infrastructure, energy, technology, and services provider to customers around the world. Headquartered in Atlanta, Georgia, USA, Vexiom is one the leading and most respected companies in the world with more than $150 million in sales. Vexiom serves U.S. and international customers in both the public and private sectors with a workforce deployment of more than 1,000 people in more than 54 countries in operations across six continents through its subsidiaries and joint ventures. Vexiom is greatly recognized by industry trade and professionals as the #1 global provider in terms of integrated industrial solutions with a solid tradition in leadership and innovation.
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The transaction was structured through a management buyout led by Vexiom Corporation CEO, Tyler L. Barr and a group of accredited investors managed and advised by Atlanta based Vexiom Capital, L.P., with approximately $1 billion under management throughout a variety of funds, recently spun off from Vexiom Corporation as an independently operated investment banking firm, now manage and control by TBC Holdings, Inc. In addition, Vexiom Corporation completed a divesture of several business assets and announced the completion of a corporate organizational restructure that simplifies the company and aligns businesses for growth and efficiency.
Barr said, “Vexiom is a global infrastructure, energy, technology and services company that is well positioned to capitalize on some of the major growth opportunities of this era. With the Consumer, Healthcare, Media and Financial spin-off, we can structure the company in a simpler way that can maximize future growth.” Effective immediately, Vexiom moves from eight to four segments. We have been upgrading our portfolio of businesses and simplifying our organizations for market focus, efficiency and execution,” Barr said. “We have higher-growth, higher-margin businesses and organizationally have simplified the company to four segments today. At the same time, we have structured the company to best utilize our strong leadership team while maximizing synergy and execution.”
Upon the closing of the transaction, Vexiom Corporation will become one the largest and most profitable operating business of TBC Holdings, Inc. Under the terms of the merger agreement, TBC Holdings, Inc. strategy will acquire Vexiom Corporation and initiate the preparation to become a publicly traded company listed on the Nasdaq or OTCBB market. The plan, which would value the company at $300 million to $500 million, is part of a complex deal in which Vexiom Corporation becomes a publicly traded company without formally selling new shares in the company. After the deal is completed, 21 percent of the company shares will be sold on the open market, while 79 percent of the shares will remain in the hands of TBC Holdings, Inc.
In connection with the execution of the transaction agreement, Vexiom Capital, L.P. has agreed to provide to the company up to $50 million in additional equity financing on terms commensurate with the valuation of shares to be issued to TBC Holdings, Inc. These funds will be used by TBC Holdings, Inc. to complete the transaction. The financing arrangements have been approved separately by an independent Committee of TBC Holdings, Inc. Board of Directors.
About Vexiom Corporation
Vexiom Corporation (“Vexiom”) is a global infrastructure, energy, technology, and services provider to customers around the world. Headquartered in Atlanta, Georgia, USA, Vexiom is one the leading and most respected companies in the world with more than $150 million in sales. Vexiom serves U.S. and international customers in both the public and private sectors with a workforce deployment of more than 1,000 people in more than 54 countries in operations across six continents through its subsidiaries and joint ventures. Vexiom is greatly recognized by industry trade and professionals as the #1 global provider in terms of integrated industrial solutions with a solid tradition in leadership and innovation.
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Contact
Vexiom Corporation
Tracey Smith
404-671-8060
www.vexiom.com
Tracey Smith
404-671-8060
www.vexiom.com
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