SIA Group has advised ESO Capital, a European investment management group, with the valuation of machinery and equipment and inventory of Moventas Gears OY. The valuations were used to underpin the collateral cover of assets which assisted ESO Capital‘s €32m financing investment into the business which is majority owned by private equity firm, Clyde Bowers Capital. Moventas is a global manufacturer of multi-megawatt class wind turbine gears used in both on and off shore wind turbines.
The complex asset valuation covered assets in the jurisdictions of Finland, UK and USA across five different manufacturing facilities and was undertaken within a tight time-scale.
Paul Craig, Managing Director at SIA Group said “Working with ESO Capital on the Moventas transaction was another example where our team demonstrated the necessary expertise and experience to complete complex and challenging multi-jurisdictional asset valuation assignments within a demanding timescale. We are delighted to have advised ESO Capital on this deal. Providing asset advisory services to the financial sponsor community is a growing area of our business and our asset valuations and collateral due diligence continue to support private equity firms in some of the largest leveraged buyouts of mid-market companies. In recognition of work in this sector we are delighted to have been shortlisted as Specialist Advisor of the Year for the 2015 Private Equity Awards.”
Greg Beamish, Director at ESO Capital Group said: “The valuation advice from SIA Group exceeded expectations. Their ability to both appraise and sell assets, combined with their thorough grasp of technical, legal and commercial valuation issues makes them a rare and valuable asset themselves. Moventus is a sound example of the well-invested, industrial businesses that we aim to support. Our funding will ensure that the Company has the solid financial platform it requires to seek out new opportunities and further enhance its value.”
ESO Capital Group was advised by Jones Day (legal), KPMG LLP (financial), and SIA Group (asset valuation).