AGP Facility Photo

Partnership with OMERS Capital Markets and BMO Enables Continued Acceleration of AGP’s Global Expansion Plans

AGP Positioned to Meet Growing Demand for Specialty Glass Amid Global Transition to Electric Vehicles

Ghent, Belgium – APRIL 26, 2022 – AGP Group (“AGP” or “the company”), a global leader in the design and production of specialty automotive glazing components, today announced it has entered into a debt financing agreement with OMERS Capital Markets (“OMERS”) and BMO Financial Group (“BMO”) to provide up to US$250 million in a senior secured term loan facility. AGP intends to use the proceeds to finance the continued acceleration of the company’s global expansion plans, including the completion of a new, state-of-the-art North American production facility. The financing follows a strategic partnership and investment, announced in April 2021, by funds affiliated with BDT Capital Partners, LLC (“BDT”), a merchant bank that provides family- and founder-led businesses with long-term, differentiated capital.

“Electrification and automation are driving meaningful changes in the way glass is incorporated into vehicle design, with cost and space optimization, energy efficiency and passenger experience resulting in rapidly growing demand for larger, more complex and tech-enabled glass surfaces,” said Arturo Mannheim, CEO and Chairman of the Board of AGP Group. “AGP’s R&D-driven competitive advantages across multiple technologies are aligned with the shifting industry needs, making us a go-to design and supply partner to traditional OEMs, leading EV start-ups and tech leaders entering the industry. We value the support from OMERS and BMO, as well as our continued partnership with BDT, which positions us well as we expand our platform to supply global OEMs in every major market.”

“We are proud to announce our participation in AGP’s secured debt financing. Reflecting its more than 50 years of world-wide leadership within the specialty glass sector, AGP’s established reputation and customer relationships, coupled with its state-of-the-art manufacturing facilities and comprehensive technological capabilities, position the company at the forefront of this high-growth market segment. We are particularly excited by AGP’s pipeline of opportunities related to the global transition to electric vehicles,” said Michael Block, Senior Managing Director, Capital Solutions, for OMERS Capital Markets. “The terms of this financing reflect our confidence in AGP’s experienced management team and strong track record of performance, and align closely with Capital Solutions’ flexible funding approach.”

“A clear industry leader in complex glazing solutions with a track record of partnering with the world’s preeminent vehicle manufacturers, AGP is well positioned to continue its global expansion,” said Alan Tannenbaum, Global Investment & Corporate Banking, BMO Capital Markets. “As part of our Purpose to Boldly Grow the Good, in business and life, BMO is proud to partner with a company whose product is an integral part of the growing transition to electrification.”

About OMERS Capital Markets and OMERS

OMERS Capital Markets is the capital markets investment division of OMERS, one of Canada’s largest defined benefit pension plans. Capital Markets’ diverse programs, flexible investment strategies and specialized teams, including across public equities, private credit, and structured investments, enable it to pursue opportunities that don’t fit into traditional categories. Through its global Capital Solutions team, it identifies and executes on complex opportunities across a number of themes, including decarbonization, clean-tech and life sciences. Founded in 1962, OMERS manages $121 billion in net assets as of December 31, 2021. OMERS has employees in Toronto and other major cities across North America, the U.K., Continental Europe, Asia and Australia.

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