Sponsor-led deleveraging transaction with multiple debt and equity investors and a complex ownership structure
American Seafoods (ASG) is the leading catcher-processor of Alaska pollock in the U.S. Bering Sea and the largest harvester of fish for human consumption in the United States. The Company owns protected rights to harvest pollock and also holds the right to participate in three other fisheries, including pacific whiting (hake), yellowfin sole, and pacific cod.
Falcon partnered with a private equity firm that has a history of successful investments in the seafood industry. Working under a tight timeframe, Falcon provided a flexible capital solution, investing in second lien term loan debt and common equity to support the recapitalization.