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AG&P closes Series C round with $53 million
Atlantic, Gulf and Pacific, more commonly called AG&P, has raised over US$53 million in Series C equity funding in its latest round of investment. The A. Soriano Corporation was the lead investor in the round. Other private companies participated in the fundraiser, including Pacific Synergies IV LP.
The company, which is based in the Philippines, outsources industrial processes dealing with the engineering, fabrication, installation, operation, modularization, and maintenance of oil and gas businesses. The company also serves the mining, power, and civil infrastructure sector.
This fundraising came after the company's recent closure of its PHP3.8 billion, or US$93 million, issuance of Corporate Note offering in the country earlier this year.
The lead investor, A. Soriano Corp, is a conglomerate listed in the Philippine Stock Exchange. The investment was made through its subsidiary. The Investment and Capital Corporation of the Philippines acted as the adviser of the AG&P.
"AG&P builds infrastructure in modules from its state-of-the-art fabrication and assembly yards in the Philippines and ships them to job sites globally. We are thrilled to continue to build our manufacturing capabilities in the Philippines and hope we can proudly bring our heritage to the world's most complicated projects," said Joseph Sigelman, chairman of the company.
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