Atex secures refinancing to support growth plans
8 October 2012 - On 19th September Atex announced plans to restructure the organisation and start repositioning the business to focus on growth opportunities in digital marketing and content management.
As further evidence of the rapid progress being made, Atex can now confirm the successful conclusion to negotiations between the Group’s principal investor and its lenders to secure new investment for the business.
Under the terms of the agreement, support totaling $65m will be provided to Atex including $12m of new money from Kistefos; a long term and largest shareholder. These funds are available to Atex to complete the repositioning of the business and to support investment in a more innovative product and growth strategy.
This announcement completes the initial phase of the operational review and will support the transition of the business into a leaner, more flexible and agile organisation. Significant progress has been made since July and the business has a clear plan with the management and funding in place to deliver it.
These developments will ensure that Atex is well placed to pursue its strategy of being a leading service provider to high performance digital markets.
Peter Marsh Telephone +1 781 685 3258