Turner Wright Limited Executes a binding Milost Equity Subscription Agreement with a New York Based Africa Friendly PE Giant
- Created: Thursday, 24 May 2018 21:21
- Written by GlobeNewswire
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LAGOS, Nigeria, May 24, 2018 (GLOBE NEWSWIRE) -- Turner Wright Limited (the “Company”) (http://www.turnerwrightng.com/), a leading Nigerian company providing solutions in animal health, animal nutrition and hygiene is pleased to announce that it has executed a Milost Equity Subscription Agreement financing facility with Milost Global Inc (the "Investor") for $150 million financing, of which $50 million is in equity and $100 million debt. With respect to the sourcing of the financing, Turner Wright was advised by Palewater Advisory Group Inc as its sole transaction advisor and financing facilitator. https://www.youtube.com/watch?v=PKwDto_Q50k
The Chairman & Managing Director of Turner Wright Limited, Dr. Tunde Lawal, stated that, “The opportunity of closing the MESA financing with the Milost has breathed a new lease of life into our business. The infusion of fresh capital and subsequent capacity expansion will definitely go a long way towards broadening our product portfolio and expanding our market reach throughout Africa, in line with our vision of guaranteeing Food Security through the provision of high quality and affordable animal protein from healthy livestock and poultry.”
Senior Partner & CIO of Milost Global Inc, Solly S. Asibey stated, “As a specialised pharmaceuticals manufacturing company, Turner Wright controls a strong, yet very niche market and is amongst the top three nationally in Nigeria in its operational sub sector; and is poised to exponentially increase its market share within the West African region and beyond. The Milost facility will be used for growth and expansion capital to meet market demand. We are excited about this great investment, and are assured of great returns for all stakeholders accordingly.”
Kim Freeman, Managing Partner & CEO of Milost Global Inc also stated, “We are very pleased to have executed the MESA with Dr Lawal as the financing allows Turner Wright’s current strong management team to expand production of its different products to meet the shortfall in Nigeria and beyond. It will also enable Turner Wright to assess acquisitions and other opportunities in future.”
About Turner Wright Limited
Turner Wright Limited was incorporated in 1997 with its main objectives being, amongst others, to engage in the manufacture, production, distribution and marketing of all kinds of animal health pharmaceuticals and biological. It is also in the business of importation and exportation of pharmaceuticals, biological and acting as manufacturer’s representatives for animal health, animal nutrition and hygiene products.
From its Head Office in Lagos, Turner Wright serves its customers scattered across the length and breadth of Nigeria and indeed the west Africa sub region through a very vibrant network of veterinary and allied professionals. The feedback of this relationship is trust and the result is that brands promoted by the company serve as the industry gold standards in its markets. http://www.turnerwrightng.com/
About Palewater Advisory Group Inc.
Palewater Advisory Group is a multinational corporate and public affairs advisory firm with headquarters in New York. We specialise in cross-border and M&A transactions, financing, public affairs, political campaign capital raising and strategy. Collectively as the team, we have had an excellent track record with more than 1000 references in our line of advisory work. We have a robust and yet solid network of contacts with a specific focus on certain core industries, investment and banking communities. Our directors, leaders, professionals, and senior advisors collectively provide access to senior industrial, political, economic, government and financial decision-makers throughout the world.
We provide individual and personal advice and react swiftly to our clients’ needs, while always providing direct access to the team, including the partners involved. As a professional services firm, we provide the best possible advice based on confidentiality and total discretion. We are committed to the principles of integrity and client service, and operate free from any conflict of interest. www.palewateradvisory.com
About Milost Global Inc
Milost Global Inc is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. Milost is also a provider of alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development. www.milostglobal.com
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