In 2010, the global coal-mining sector witnessed merger and acquisition transactions worth more than $47 billion through over 968 transactions, the highest number of deals on record. The increased corporate activity in the sector and the strong coal market fundamentals made the AMPW board of directors search for an advisor that could help the Company take advantage of this market environment. AMPW believes Gryphon's extensive experience in strategic consulting and transaction advisory services to resource companies will help the Company in evaluating all opportunities available, with the objective of further enhancing shareholder value.
Established in 2003, Gryphon Partners is an independent corporate advisor dedicated to the resources and energy sectors. Gryphon's team members have extensive experience working in the resources industry in either corporate development teams or as corporate advisors. Its principals have worked on some of the most complex mergers, takeovers, restructures and financings in the industry, providing advice to clients around the world in the traditional areas of mergers and acquisitions, corporate and project finance.
"Gryphon is a leading and globally recognized independent advisory firm with in-depth knowledge of the natural resource markets and possesses a wide network of contacts within major resource corporations on a global basis, particularly in North America, Europe and throughout Asia. Thus, we strongly believe that Gryphon is well-positioned to assist American Power in this mandate," added Mr. Valencia.