“PGIM in relation to the MBO was attractive to us because it allowed our private equity house to get the returns they needed. It allowed our chairman to take out the bulk of his investment. It also allowed the management team that were staying onboard to retain a majority stake of the business to keep them completely engaged in the future success of the business.”
Jo Cowl
Chief Financial Officer, ABI
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Providing unwavering commitment through challenging times
Seven weeks after completing a management buyout, ABI was forced to cease all of their operations, close the factory and furlough 510 employees. On March 23, management made the difficult decision to suspend production and send their employees home. We held conversation with ABI from the start and were involved in their decisions early on.
“I always believed that PGIM would be different. That's been proven in practice. There is involvement. There is interest. We're in it together.”
Mel Copper
Chairman, ABI
A supportive, long-term partnership
We pride ourselves on being a supportive and patient partner, and in the early days when there was uncertainty around the pandemic, we provided a sounding board and a voice of experience to give ABI the confidence to run their business with a long-term mindset.
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