Bregal Partners Sponsors Deleveraging Recapitalization of American Seafoods

New York City--(BUSINESS CABLE)-- American Seafoods, the largest farmer of wild-caught fish for humanintake in the united states, revealed today that it has actually closed a.deleveraging recapitalization. The transaction was funded by Bregal.Partners, along with Pacific Fish and shellfish Team as well as various other industry investors,.and it includes a substantial equity funding infusion and a refinancing.of the Business's superior financial obligation. The deleveraging recapitalization.substantially minimizes the Firm's insolvency, sets up steady,.lasting funding, and also supplies the Business with a patient and also.strategic financier base, enhancing its placement as a leading.carrier of sustainable seafood items.Seafood industry experts Frank Dulcich, CEO of Pacific Fish and shellfish Team,.Chris Lischewski, CEO of Bumble Bee Foods, as well as Amy Humphreys, previous CEO.of Icicle Seafoods, have purchased the Firm and also now offer on its.Board along with Scott Perekslis, Bregal Allies' Co-Founder and also.Handling Companion, and American Seafoods' Chairman and CEO Bernt Bodal.Perekslis assisted Bodal in the buyout of American Fish and shellfishes from.affiliates of Aker ASA in 2000 as well as offered on the Business's Board from.2000 up until last summer season. Following the deal, Bregal holds a.considerable however noncontrolling interest in American Seafoods; already existing.equity owners, consisting of participants of the existing management group that.will remain in area as well as run the Firm, additionally hold a substantial.interest."Bregal Allies constantly has actually focused on sustainability as well as.environmental finest techniques when thinking about financial investments," said.Perekslis. "This transaction represents our second investment in joining MSC-certified fisheries in the last 6 months.American Seafoods takes part in the Pacific whiting as well as Bering Sea.Alaska pollock fisheries, both held as the gold requirement for lasting.fishery administration, with one of the lowest environmental impacts of.any protein. The Business's excellent track document provides us self-confidence.that it will certainly remain to lead the industry with its concentrate on lasting.stewardship.".Perekslis included, "Worldwide need for seafood as well as other aquatic items is.outstripping supply. American Seafoods, as a proprietor of secured legal top notch, wild-caught source, is well-positioned to profit.from this nonreligious supply and also demand imbalance."."Buying American Seafoods makes sense for Pacific. Both American.Fish and shellfishes as well as Pacific believe in giving their clients with the.greatest high quality seafood products from one of the most responsibly-managed.fisheries," claimed Frank Dulcich. "I anticipate functioning very closely with.the team at American Seafoods to aid it create and execute initiatives.".Bodal wrapped up, "This is really a clean slate for American Seafoods.With this brand-new capital framework and also well-informed tactical capitalist.base in position, we will be able to improve our outstanding document of.taking full advantage of the value of the sustainable fisheries sources we gather.We currently have the most sophisticated vessels and the very best individuals in Currently we also have a balance sheet that enables them to get to.their full capacity.".Debevoise & & Plimpton LLP worked as the legal advisor to American.Fish and shellfishes, as well as Ares Funding Corp. prepared the funding for Dechert LLP and K&L Gates LLP functioned as the lawful Bregal Partners. Terms of the deal were not revealed.About American SeafoodsAmerican.Seafoods is just one of the largest fish and shellfish companies in the united states in terms of.profits as well as volume. The Company produces and refines a selection of fish.species, including Alaska pollock, Pacific whiting (hake), yellowfin.sole, and also Pacific - - cod, aboard its sophisticated catcher-processor.vessels. American Seafoods disperses its products to a diverse group.of consumers internationally.Regarding Pacific Fish and shellfish TeamPacific, company, is - - one of North America's leading seafood.firms. The Business's vertically integrated operations consist of.harvesting, tank farming, handling, and circulation tasks across.the continent. Pacific refines countless species of lasting fish and well as proactively sustains licensed fisheries worldwide.Concerning Bregal PartnersBregal a private investment company that spends alongside groups to develop industry-leading business in the Areas of focus consist of well-known customer items, food,, and also health care. With $500 million of committed capital a sixth-generation family members structure with roots back to 1841, Bregal.Companions brings experience, security, as well as a long-lasting outlook to all.its financial investments. Bregal Allies becomes part of Bregal Investments, a members of investment cars that has actually invested greater than $10 billion.since 2002.