ACON Investments Announces Sale of Florimex.WASHINGTON -- ACON ACON AIDS Council of NSW ACON Asian Community Online Network ACON Application Control ACON All Class in One Network ACON Antenna Controller Investments, a Washington, D.C.-based global private equity firm, announced today that it has completed the sale of its controlling stake in Florimex International, B.V. ("Florimex") to Bencis Capital Partners, a Dutch private equity investment group. Terms of the sale were not disclosed. Based In Aalsmeer, the Netherlands, Florimex is one of the leading marketers and distributors of fresh cut flowers flowers cut from the stalk, as for making a bouquet. See also: Flower , potted plants and decorative foliage worldwide. ACON acquired Florimex in November, 2001, when it received Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. approval to purchase the International Division of U.S.A. Floral Products, Inc ("USAFP USAFP Uniformed Services Academy of Family Physicians "). The International Division included all of USAFP's operations outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , which operated largely independent of USAFP's other operations. Under ACON's ownership and direction, Florimex underwent a significant transformation. Initiatives undertaken included relocating headquarters from Germany to the Netherlands, centralizing cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. the Company's administrative offices, refinancing the capital structure assumed in ACON's original acquisition, turning around several underperforming divisions and reorganizing the management team. As a result of these initiatives and the exceptional leadership provided by Florimex's management team, ACON was able to more than triple its equity investment in Florimex in a period of 40 months. ACON Investments is a Washington, D.C.-based private equity investment firm which has managed approximately $725 million of capital. Founded in 1996, ACON manages private equity funds and special purpose partnerships with investments in the United States, Europe and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Among its activities, ACON is affiliated with Texas Pacific Group, one of the leading private equity organizations in the world. ACON pursues a theme-based investment strategy by focusing on industries or businesses at key inflection points in their development and pursues these opportunities in close partnership with established management teams. ACON has offices in Washington, D.C. and Madrid, Spain. |
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