FG Acquisition Corp. completes acquisition of Strong/MDI Screen Systems Inc. and launches Saltire Capital Ltd.

Goodmans LLP acted for FG Acquisition Corp. ("FGAC"), a special purpose acquisition company in connection with its acquisition of Strong/MDI Screen Systems, Inc., a leading manufacturer and distributor of premium large format projection screens to the cinema industry in North America and around the globe. The MDI acquisition, together with the launch of FGAC’s new investment platform, will constitute FGAC’s qualifying acquisition. 

In connection with the closing of the MDI acquisition, FGAC renamed itself Saltire Holdings, Ltd. Saltire intends to build and grow a portfolio of profitable and cash-flow generating private equity investments that would not otherwise be available to public market investors through its proprietary origination process, to maximize its intrinsic value on a per-share basis over the long-term by seeking to achieve superior investment performance commensurate with reasonable risk.

Concurrently with the closing, Saltire entered into a management agreement with Saltire Partners, Inc. to provide management services to Saltire. Saltire’s unique structure includes a 20% ownership position in the Manager, a stand-alone investment manager that will seek to develop, through organic growth and selected strategic acquisitions, a strong and differentiated asset management platform.