SAN MATEO, CA, January 26, 2014 /24-7PressRelease/
-- Accelerated Venture Partners ("AVP") announced that they have taken control of an iron ore mine that produced an estimated 600,000 tons of Fe 62% concentrate with revenues of approximately $82 million in 2013. AVP and its partners intend to invest an estimated $100 million to increase production to approximately 2 million tons of iron ore concentrate a year by mid-2015. The mine currently has a five year fixed price off-take contract for 10 million tons of iron ore concentrate with a leading steel producer which is anticipated to generate an estimated $1.2 billion in revenue.
"We are aggressively seeking opportunities in the mining and oil industries," said Timothy Neher, Managing Partner, "although we prefer operating mines, other situations with the proper documentation will be evaluated."
About Accelerated Venture Partners - AVP is a private equity firm with $1.7 billion in assets under management, located in Silicon Valley and having an appreciation for the challenges and complexities of growing a company and seeking to bring their expertise and experience to management teams at the Board of Directors level. AVP focuses on the long-term success of our portfolio companies and works actively to invest resources to maximize company value. Investments can take the form of helping to recruit senior management, identifying and negotiating acquisitions, formulating strategy, and financing growth. In specific situations such as a strategic acquisition or a major restructuring of a company's distribution channel, Accelerated Venture Partners' individual principals provide hands-on assistance to management teams.
For more information please contact Timothy Neher, 650-378-1232.