Velocity Minerals Ltd
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Materials : Metals & Mining | Small Cap Growth
Based in Canada
Company profile

Velocity Minerals Ltd. is a Canada-based mineral exploration company. The Company is engaged in the business of acquiring, exploring, and evaluating mineral resource properties in Bulgaria. The Company has a 70% interest in the Tintyava property, which includes the Rozino gold project; a 70% interest in the Momchil property, which includes the Obichnik gold project, and a 100% interest in the Iglika property. The Company also has an option agreement to earn a 70% interest in the Makedontsi gold project. The Rozino project lies within the municipality of Ivaylovgrad in southeast Bulgaria, approximately 350 kilometers (km) by road east-southeast of the capital, Sofia, and 85 km by road from Gorubso's gold processing plant. The Obichnik project is located in southeast Bulgaria, approximately 25 km by road from Gorubso's gold processing plant. The Makedontsi deposit is located in southeast Bulgaria, approximately 10km by road from Gorubso Kardzhali A.D.’s gold processing plant.

Closing Price
$0.2541
Day's Change
0.00 (0.00%)
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B/A Size
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Volume
(Light)
Volume:
0

10-day average volume:
4,533
0

Trive Capital Announces Sale of NxEdge

4:19 pm ET November 5, 2021 (PR Newswire) Print

Trive Capital announced today that it has entered into a definitive agreement to sell NxEdge, an advanced manufacturing, cleaning, coating, and refurbishment business focused on the semiconductor value chain, to EnPro Industries, Inc. (NYSE: NPO), an industrial technology company. The transaction marks a significant next step in Enpro's multi-faceted strategy to accelerate growth in high-growth, high-margin industrial technology-related businesses with aftermarket exposure and recurring revenue streams.

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"Our partnership with Trive was critical as we developed and executed an ambitious growth plan"

Upon closing, NxEdge will become part of Enpro's Advanced Surface Technologies (AST) segment. Together, the combined business will offer differentiated, integrated solutions with expanded customer relationships and a diversified geographic reach.

Based in Boise, Idaho, NxEdge serves customers across the semiconductor supply chain, including top tier global integrated device manufacturers (IDM) and original equipment manufacturers (OEM) from six facilities located in Idaho and California. With vertically integrated capabilities across the semiconductor value chain, including a robust aftermarket business, NxEdge is a leading supplier offering a set of integrated capabilities with unique processes, resulting in a broad range of qualifications at top customers.

"We are thrilled with the opportunity to join Enpro and bring together our highly complementary assets to unlock significant value," said Jackson Chao, Founder and Chief Executive Officer of NxEdge. "Over the past few years, we have focused on delivering technically differentiated, vertically integrated product solutions to our semiconductor IDM and OEM customers. Our partnership with Trive was critical as we developed and executed an ambitious growth plan by making significant infrastructure and capacity investments that position us to support secular growth trends within our industry. With Enpro, we will be able to fully capitalize on these investments and accelerate our momentum to deliver comprehensive, differentiated solutions to meet our customers' needs globally and offer expanded career opportunities for our colleagues."

"Over the past five years, NxEdge has solved supply chain complexities by transforming into a vertically integrated surface technology company focused on delivering full lifecycle support," commented David Stinnett, Partner at Trive. "NxEdge's highly differentiated capabilities, talented management team, and significant investments (both organic and inorganic) will allow the company to continue supporting its customers in delivering next-generation semiconductor technology. Trive has greatly appreciated the partnership with management and is excited to see the growth of the business under Enpro's stewardship."

Evercore is advising Trive Capital on the sale of NxEdge, and Kirkland & Ellis LLP is serving as legal counsel. GCA Advisors is serving as financial advisor to Enpro, and Robinson Bradshaw is serving as legal counsel.

About TriveTrive Capital is a Dallas, Texas based private equity firm with approximately $3.6 billion in assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive's targeted industry sectors and situations.

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View original content to download multimedia:https://www.prnewswire.com/news-releases/trive-capital-announces-sale-of-nxedge-301417657.html

SOURCE Trive Capital

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