Following a successful capital-raising in December 2010, Arrowpoint Advisory's Industrial sector team has advised the management and shareholders of Exploration Logistics Group plc on the merger of the business with MEDEX Global Solutions.
The enlarged business, to be known as Frontier MEDEX Group, which will have revenues of $100m, will deliver a fully integrated world-wide assistance, medical safety and security service, ranging from remote medical clinics, insurance and travel intelligence to medical and political evacuation.
Arrowpoint Advisory advised the management and shareholders of Exlogs on the original capital-raising exercise, when the founders of the company began to search for a way to facilitate their own retirement, incentivise and support the next generation of management and provide financial ammunition for Exlog's ambitious future growth strategy. Following a successful marketing exercise, MML Capital Partners took a minority interest in Exlogs, backing the existing management team to continue its development of the Group's service offering.
Alex John, Director at Arrowpoint Advisory stated at the time: “We had a number of attractive approaches from PE firms but MML stood out because of the flexibility of their funding structures and North American presence.”
With MML's backing in place, the Group's existing management team immediately began to look at growth opportunities, looking at ways to expand their presence in the North American market. They identified the need to deliver to their customers the full range of their services across all sectors and all locations. Baltimore-based MEDEX gave them this opportunity, with the merger and formation of Frontier completing just three months after the original capita-lraising exercise.
Global CEO Tim Mitchell said of the capital-raising exercise and merger: “In MML, Arrowpoint Advisory found us a financial partner that has worked hard to understand our business and that shares management's vision for the business. This merger is timely and significant with the world already witnessing our rapid response capabilities in both Tripoli and Cairo, where we were first on the ground to evacuate more than 600 civilians from unexpected injury, unrest and rioting.”
At a time when we face growing environmental and political instability, Frontier is uniquely positioned to help individuals and organisations achieve their global ambitions and fulfil their duty of care in a world of increasing uncertainty.”