InstarAGF Asset Management Acquires AMPORTS, Inc.

TORONTO, April 03, 2018 (GLOBE NEWSWIRE) -- InstarAGF Asset Management Inc. (“InstarAGF”) today announced that it has acquired an 100% equity interest in AMPORTS, Inc. (“AMPORTS”), a premier automotive port logistics and processing company based in Jacksonville, Florida, from Lincolnshire Management, Inc., alongside its Canadian and international infrastructure co-investors.

AMPORTS is a vital link in the global transportation supply chain of many of the world’s largest automotive original equipment manufacturers (“OEMs”), operating from strategically-located facilities in the United States and Mexico on major coastal zones that provide superior access to land transport links and distribution networks in close proximity to major population centres. AMPORTS, which directly owns approximately 50% of its land portfolio, provides customers with seamless logistical and portside services in vehicle processing, including rail loading and unloading, inspection, storage, accessory installations, and customizations, repairs and regulatory homologation services. 

InstarAGF, which focuses on mid-sized infrastructure assets in North America in the energy, utilities, civil and social infrastructure sectors, manages a diversified portfolio of high quality businesses that includes an interest in the passenger terminal at Billy Bishop Toronto City Airport, a vital transportation hub for the city of Toronto and surrounding region, and Skyservice, Canada’s leading provider of essential business aviation services.

“AMPORTS is an award-winning leader in portside automotive processing, which is an essential component of the North American auto supply chain and represents a critical service for global OEMs,” said Gregory J. Smith, President and Chief Executive Officer of InstarAGF.  “AMPORTS has provided high quality, customized services to OEMs for more than 50 years, establishing long-term customer relationships and a distinctive value proposition that underpins the company’s stable cash flow profile and growth prospects.”

“We are delighted to welcome InstarAGF and its co-investors to the AMPORTS family,” said Steve Taylor, President and Chief Operating Officer at AMPORTS. “Working alongside the experienced InstarAGF team, we look forward to further expanding and enhancing our market-leading infrastructure and competitive position, and to building on our commitment to safety, quality, operational excellence and customer satisfaction.” 

The financial terms of the transaction are undisclosed.  InstarAGF was advised by ING Financial Markets LLC, McCarthy Tétrault LLP and Morrison Foerster LLP.

About InstarAGF Asset Management
Launched in 2014, InstarAGF is an independent alternative asset management firm with an emphasis on North American middle-market opportunities in the infrastructure sector and other alternative real asset categories. InstarAGF, which makes direct investments and co-investments with like-minded investors and strategic partners, is a joint venture between Instar Group Inc., a company owned by Gregory J. Smith, and AGF Management Limited, a diversified global asset management firm. For more information: www.instaragf.com 

Disclaimer:

This release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the United States’ federal securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, and includes words such as “believes”, “seeks”, or negative versions thereof and other similar expressions, or future conditional verbs, such as “may”, “will”, “should”,  “would” and “could.”

This release contains statements with respect to the nature, type and quality of InstarAGF Asset Management Inc.’s investments. Although InstarAGF Asset Management believes that future anticipated results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions, the reader should not place undue reliance on forward-looking statements or information as statements or information involve known and unknown risks, uncertainties and other factors  which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements express or implied by such forward looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward looking statements include: economic and financial conditions; the behavior of financial markets (including fluctuations in exchange and interest rates); availability of equity and debt financing; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions and the ability to obtain expected benefits; regulatory and political factors; acts of God; and the possible impact of international conflicts, including terrorism, and other risks and factors as detailed from time to time.

This document is for informational purposes only and does not constitute a general solicitation, offer or invitation in any InstarAGF-managed funds in the United States or in any other jurisdiction and has not been prepared in connection with any such offer.  The views expressed herein do not constitute investment or any other advice and are subject to change.

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