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OCTOBER 2013
Transactions
125
IdInvESt Et aL. BacK GRand cRU WItH EUR 8.5M
Grand cru, the relatively new Finnish gaming company, has secured $11 million from strategic investors including lead investor Idinvest Partners, as well as qualcomm ventures and nokia Growth Partners.
The company is currently working on a new game but don’t have any concrete plans for when it will be released yet.
“We will launch it when it’s ready,” chief marketing officer, Thorbjorn Warin, said. “We’ve put two years into the game. We will not fumble on the finish line and we have taken a very extensive process in developing the game.”
He added: “We’re not going to grow too quickly and go on a crazy hiring spree. We’re not going to be cranking out new products every six to nine months. We want to make sure the people we hire have a good, strong cultural fit with people who want to make games with the same level of ambition that we have.”
Lexia acted as the legal advisor to Grand Cru in the transaction and negotiations from the first term sheets to closing documents. Lexia’s team was led by Partner Markus Myhrberg, an Senior Associate Olli Kotila.
Myhrberg said: “Lexia has been the legal advisor for Grand Cru from the early days of the company and advises the company in all legal matters. Lexia’s clientele includes also other growing game companies and we are active in the startup scene.” LM
ERIcKSon acqUIRES aIR aMaZonIa SERvIçoS aERonaUtIcoS Ltda and a FLEEt oF SIX aIRcRaFt FRoM HRt PaRtIcIPaçõES
Erickson air-crane, Incorporated (“Erickson” or “the company”) (naSdaq: Eac) has signed the definitive agreements to acquire air amazonia Serviços aeronauticos Ltda. (“air amazonia”), the aerial service provider of HRt Participações em Petróleo S.a. (“HRt”), as well as a fleet of six aircraft and ground facilities. Furthermore, HRt has granted Erickson the right of first refusal to purchase the remaining fleet of eight (8) helicopters and on aerial supporting services in HRt´s future operations in regions other than the Solimões Basin where the aerial services will be firstly provided under the transaction. the transaction closed on September 03, 2013.
Udo Rieder, Chief Executive Officer of Erickson Air-Crane, Incorporated, commented: “We are very pleased to have reached agreement with HRT for the purchase of the aerial services business of HRT. We are pleased with the structure of the transaction and in particular, because we are able to fund the initial purchase price with our existing revolving credit facility and will release the $45 million cash held in escrow under the notes offering. This preserves the potential financial upside contemplated by the previous structure, without the higher capital outlay. We believe that the transaction is an excellent use of capital, will prove to be significantly and immediately accretive, and produce Adjusted EBITDA margins in line with our core busi- ness. This is a significant step in our strategy of continuing our expansion into the South American oil and gas market.”
Pursuant to the agreement, Erickson paid $23.0 million at closing for the business, which includes a fully operational fleet of 6 rotary-wing aircraft of varying types and mission capabilities, and an additional $3.0 million within twelve months of closing as consideration for the achievement of certain milestones. LM
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Grand Cru
HRT Participações