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American Securities and P2 Capital Partners Complete Acquisition of Blount

PORTLAND, Ore. and NEW YORK, April 12, 2016 (GLOBE NEWSWIRE) -- Blount International, Inc. (NYSE:BLT) (“Blount” or “Company”) today announced the completion of its acquisition by affiliates of American Securities LLC and P2 Capital Partners, LLC. Under the terms of the merger agreement, Blount stockholders are entitled to receive $10.00 per share in cash, without interest and less any applicable tax withholding.

“As a private company, Blount will have greater flexibility to pursue new opportunities to better serve its global customer base across the Forestry, Lawn, and Garden (“FLAG”) and Farm, Ranch, and Agriculture (“FRAG”) markets,” said Loren Easton, Managing Director at American Securities. “We look forward to providing the strategic and financial support to enable Blount to achieve this next phase of growth.”

“We have long admired Blount’s talented team members and its track record of market leadership and innovation,” said Josh Paulson, Partner at P2 Capital Partners. “We are excited to work alongside management and American Securities to help the Company execute its strategic plan and continue delivering the high-quality products that are its hallmarks.”

The transaction was announced on December 10, 2015 and received approval from Blount stockholders on April 7, 2016. Josh Collins will remain the Company’s Chief Executive Officer and David Willmott will continue to serve as President and Chief Operating Officer. The Company intends to maintain its corporate headquarters in Portland, Oregon and its existing global distribution and sales footprints.

As a result of the completion of the acquisition, shares of Blount common stock were removed from listing on the New York Stock Exchange, with trading in Blount shares suspended prior to the opening of business today.

Cautionary Statement Regarding Forward-Looking Statements
“Forward-looking statements” in this release, including without limitation statements regarding the transaction and the Company’s “outlook,” “expectations,” “beliefs,” “plans,” “indications,” “estimates,” “anticipations,” “guidance” and their variants, as defined by the Private Securities Litigation Reform Act of 1995, are based upon available information and upon assumptions that the Company believes are reasonable; however, these forward-looking statements involve certain risks and should not be considered indicative of actual results that the Company may achieve in the future. There are a number of factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, in particular, among other things, the potential impact of the announcement or consummation of the transaction on relationships, including with employees, suppliers and customers; litigation relating to the transaction; and the other factors and financial, operational and legal risks or uncertainties described in the Company’s public filings with the Securities and Exchange Commission, including the “Risk Factors” and “Forward Looking Statements” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 and subsequent Quarterly Reports on Form 10-Q.  The Company disclaims any intention or obligation to update or revise any forward-looking statements as a result of developments occurring after the date of this document except as required by law.

About Blount International
Blount is a global manufacturer and marketer of replacement parts, equipment, and accessories for consumers and professionals operating primarily in two market segments: Forestry, Lawn, and Garden (“FLAG”); and Farm, Ranch, and Agriculture (“FRAG”). Blount also sells products in the construction markets and is the market leader in manufacturing saw chain and guide bars for chain saws.  Blount has a global manufacturing and distribution footprint and sells its products in more than 110 countries around the world.  Blount markets its products primarily under the OREGON®, Carlton®, Woods®, TISCO, SpeeCo®, ICS® and Pentruder® brands. For more information about Blount, please visit our website at http://www.blount.com.

About American Securities
American Securities is a leading U.S. private equity firm with approximately $15 billion under management. Based in New York with an office in Shanghai, American Securities invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or EBITDA of $50 million to $200 million. For more information, please visit http://www.american-securities.com.

About P2 Capital Partners
P2 Capital Partners is a New York-based investment firm that applies a private equity approach to investing in the public market. P2 manages a concentrated portfolio of significant ownership stakes in high quality public companies in which it is an active shareholder focused on creating long-term value in partnership with management. The firm will also lead private equity transactions within its public portfolio. P2’s limited partners include leading public pension funds, corporate pension funds, endowments, foundations, insurance companies, and high net worth investors.

Contact:
For Blount International:
David Dugan
503.653.4692

For American Securities:
Caroline Harris-Gibson
Prosek Partners
212.279.3115 x222
cgibson@prosek.com

For P2 Capital Partners:
Josh Paulson or Jonathan Gasthalter
212.508.5507 or 212.687.8080

Blount International, Inc.



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CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS "Forward looking statements" in this release, including without limitation statements regarding the proposed transaction, the expected timetable for completing the proposed transaction, Blount’s "outlook," "expectations," "beliefs," "plans," "indications," "estimates," "anticipations," "guidance" and their variants, as defined by the Private Securities Litigation Reform Act of 1995, are based upon available information and upon assumptions that Blount believes are reasonable; however, these forward looking statements involve certain risks and should not be considered indicative of actual results that Blount may achieve in the future. There are a number of factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, in particular, among other things, the ability to consummate the proposed transaction in the time frame expected by the parties or at all; any conditions imposed on the parties in connection with the consummation of the proposed transactions; the ability to obtain requisite regulatory approvals on the proposed terms and schedule; the ability to obtain Blount shareholder approval and the satisfaction of the other conditions to the consummation of the proposed transaction; the potential impact of the announcement or consummation of the proposed transaction on relationships, including with employees, suppliers and customers; the ability of third parties to fulfill their obligations relating to the proposed transaction, including providing financing under current financial market conditions; and the other factors and financial, operational and legal risks or uncertainties described in Blount’s public filings with the SEC, including the "Risk Factors" and "Forward Looking Statements" sections of Blount’s Annual Report on Form 10-K for the year ended December 31, 2014 and subsequent Quarterly Reports on Form 10-Q. Blount disclaims any intention or obligation to update or revise any forward-looking statements as a result of developments occurring after the date of this document except as required by law.

IMPORTANT ADDITIONAL INFORMATION
This communication may be deemed to be solicitation material in respect of the proposed acquisition of Blount by American Securities LLC and P2 Capital Partners, LLC. In connection with the proposed acquisition, Blount plans to file relevant materials with the SEC, including Blount’s Proxy Statement in preliminary and definitive form. Before making any voting decision, Blount shareholders are urged to read all relevant documents filed with the SEC, including Blount's proxy statement when it becomes available, because they will contain important information about the proposed transaction and the parties to the proposed transaction. Investors and security holders are able to obtain the documents (once available) free of charge at the SEC’s website at www.sec.gov, or free of charge from Blount on the Investor Relations Page of its corporate website at http://www.blount.com, or by directing a request to Blount International, Inc., Investor Relations, 4909 SE International Way, Portland, Oregon 97222.

PARTICIPANTS IN SOLICITATION
Blount and its directors, executive officers and other members of management and employees, under SEC rules, may be deemed to be "participants" in the solicitation of proxies from Blount shareholders with respect to the proposed transaction. Information about Blount's directors and executive officers is set forth in Blount's Proxy Statement on Schedule 14A for its 2015 Annual Meeting of Stockholders, which was filed with the SEC on April 21, 2015. Information concerning the interests of Blount's participants in the solicitation, which may, in some cases, be different than those of Blount's shareholders generally, is set forth in the materials filed by Blount with the SEC, and will be set forth in the proxy statement relating to the proposed transaction when it becomes available. Investors should read such materials carefully before making any voting or investment decision.