Condor Acquisitions Inc. Enters Into USD $100 Million Equity Line Funding with Equity Partners Fund
The Condor business plan is to acquire EBITDA positive acquisitions and then vend them into listed public companies to take advantage of the SPPA. The minimum EBITDA target for each sector is USD$20 m
- (1888PressRelease) July 30, 2012 - Condor Acquisitions Inc www.condoracquisitions.com announced today that it has signed a Special Private Placement Agreement (SPPA) for $100,000,000 of equity line funding with Equity Partners Fund SPC (EPF).
The Condor business plan is to acquire EBITDA positive acquisitions and then vend them into listed public companies to take advantage of the SPPA. The minimum EBITDA target for each sector is USD$20 million, but targets within the sector must have a minimum of USD$2 million of EBITDA and already be successful, focusing on consolidation in the fastest growing sectors.
The funding agreement is designed to aid the objective of finding already established companies in expanding fields and backing those companies to acquire other good companies in their sector and consolidate them. The company believes there are many good companies that are successful yet capital constrained.
Condor is currently in discussions with several acquisition targets as well as listed public companies for the purpose of merger, JV or acquisition. Condor has recently signed a letter of intent for one transaction that should give a public company an anticipated market cap of USD$200 million.
Condor director and house counsel Matt Laden said, "This funding agreement with Equity Partners will form the cornerstone of Condor accretive EBIDTA positive acquisitions over the next several years. It enables a clear path to acquisitions of listed companies which can add value geographically and strategically.
I would also like to mention in particular Alvin Donovan, Managing Director of EPF, has already assisted in helping us to identify acquisition candidates, which is an important part of our growth model. We are now working with EPF and Alvin Donovan for the purpose of identifying other potential listed acquisition partners and strategies."
About Condor Acquisitions Inc.
Condor seeks to make accretive EBITDA acquisitions on an earn out basis and then to vend those assets into listed public companies. These listed public companies then become a platform for consolidations in each sector. Condor does not seek nor accept any outside investors. www.condoracquisitions.com
About Equity Partners Fund SPC
Equity Partners Fund focuses on equity investments in public companies with market capitalizations under $1 billion, as well as private companies that will be listed on a securities exchange within six months of of a funding commitment. The fund will invest in all s