Willkie Farr & Gallagher

Southeastern Grocers announces strategic divestiture of its portfolio

Retrieved on: 
Mercredi, août 16, 2023
Retail, Consumer, Other Retail, Supermarket, Specialty, Hispanic, Food, Beverage, LLP, Harveys Supermarkets, Kirkland & Ellis, Pharmacy, Multimedia, Sale, RBC Capital Markets, Winn-Dixie, SEG, Willkie Farr & Gallagher, ALDI, Southeastern Grocers

Southeastern Grocers Inc. (SEG), parent company of Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, today announces it has entered into definitive agreements with ALDI and Fresco Retail Group, LLC to effectuate a comprehensive strategic divestiture of its businesses.

Key Points: 
  • Southeastern Grocers Inc. (SEG), parent company of Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, today announces it has entered into definitive agreements with ALDI and Fresco Retail Group, LLC to effectuate a comprehensive strategic divestiture of its businesses.
  • This includes approximately 400 stores in Alabama, Georgia, Louisiana, Mississippi and Florida where 75% of the stores are located.
  • For those stores that are not converted, ALDI intends for them to continue to operate as Winn-Dixie and Harveys Supermarket stores.
  • Anthony Hucker, President and CEO of Southeastern Grocers, said, “Our successful transformational journey has created a unique opportunity with leading partners who share our vision and common commitments to creating value for their customers.

Numerix Acquires PolyPaths, Expanding Market Expertise in Structured Finance & Fixed Income

Retrieved on: 
Mercredi, août 2, 2023
Slate, LLP, DNA, Senior, Risk management, RBC Capital Markets, Name, ALM, Jefferies Group, Acquisition, Skadden, Arps, Slate, Meagher & Flom, Willkie Farr & Gallagher, Genstar Capital, Genstar, Growth, Front, Insurance, Management, Numerix

NEW YORK, Aug. 2, 2023 /PRNewswire/ -- Numerix, a global leader in capital markets risk management technology, is pleased to announce the acquisition of PolyPaths, a renowned provider of analytics and risk management solutions for financial institutions.

Key Points: 
  • PolyPaths brings a wealth of expertise in structured finance and fixed income products, complementing Numerix's existing capabilities and further extending its analytics asset class coverage, confirming Numerix's position as a leading provider of pricing and risk management solutions.
  • This new sector of growth presents exciting opportunities for Numerix to serve a broader range of clients and deliver even greater value to the market.
  • Manny Conti, CEO of Numerix, expressed his excitement about the acquisition, stating, "The acquisition of PolyPaths marks a pivotal milestone for Numerix as it expands our market expertise in structured finance and fixed income.
  • Jefferies LLC served as financial advisor and Willkie Farr & Gallagher LLP served as legal counsel to Numerix.

Prudential Financial to Reinsure $12.5B Guaranteed Universal Life Block with Somerset Re

Retrieved on: 
Lundi, juillet 24, 2023
Banking, Professional Services, Insurance, Finance, LLP, PRU, Bermuda Monetary Authority, PGIM, Risk management, Prudential Financial, RBC Capital Markets, Wells Fargo, Willkie Farr & Gallagher, Prudential, Bermuda, NYSE, Financial services

Prudential Financial, Inc. ( NYSE: PRU ) announced today an agreement to reinsure a portion of its guaranteed universal life block with Somerset Re, resulting in approximately $450 million of proceeds.1

Key Points: 
  • Prudential Financial, Inc. ( NYSE: PRU ) announced today an agreement to reinsure a portion of its guaranteed universal life block with Somerset Re, resulting in approximately $450 million of proceeds.1
    Under the terms of the agreement, Somerset Re will reinsure approximately $12.5 billion of reserves backing Prudential’s guaranteed universal life policies issued by Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey.
  • This transaction, covering policies written prior to 2015, represents approximately one-third of Prudential’s total guaranteed universal life statutory reserves.
  • “This transaction marks another significant milestone in our efforts to reduce market sensitivity and increase capital flexibility,” said Charles Lowrey, chairman and CEO of Prudential Financial.
  • Mayer Brown LLP served as legal counsel to Somerset Re for the transaction, and RBC Capital Markets advised Somerset Re.

Levine Leichtman Capital Partners Sells SK AeroSafety

Retrieved on: 
Jeudi, juillet 20, 2023
Professional Services, Air, Transport, Aerospace, Manufacturing, Finance, LLP, Maintenance, SK, Sale, Willkie Farr & Gallagher, Growth, Safety, MRO, Airline, Video game

Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has sold its portfolio company SK AeroSafety (“SK” or the “Company”) to Bridgepoint, a global private equity firm.

Key Points: 
  • Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has sold its portfolio company SK AeroSafety (“SK” or the “Company”) to Bridgepoint, a global private equity firm.
  • Founded in 2011 and headquartered in Wokingham, United Kingdom, SK is a leading global provider of maintenance, repair and overhaul services for aircraft safety equipment.
  • SK is in a strong position for continued growth and we wish the management team and their new partners all the best in the future.”
    Chris Wright, CEO of SK AeroSafety, added, “We are grateful to have partnered with LLCP over the last four years.
  • SK AeroSafety is the final investment in Levine Leichtman Capital Partners Europe, L.P.
    Houlihan Lokey LLP served as financial advisor and Willkie Farr & Gallagher LLP served as LLCP’s legal counsel in connection with the transaction.

Galata and Marti Complete Business Combination

Retrieved on: 
Lundi, juillet 10, 2023
Apps, Applications, Technology, Mobile, Wireless, Finance, Automotive, General Automotive, Vehicle Technology, Professional Services, Software, United States Army Acquisition Corps, Professional, Internet of things, White & Case, Latham & Watkins, Business analyst, Entrepreneurship, Acquisition, Willkie Farr & Gallagher, NYSE American, CIO, Transport, NYSE, Financial adviser

Galata Acquisition Corp. (“Galata”), a Cayman Islands exempted company and a former U.S. publicly-listed special purpose acquisition company, today announced the closing of its previously announced business combination (the “Business Combination”) with Marti Technologies Inc. (“Marti”), a Delaware corporation.

Key Points: 
  • Galata Acquisition Corp. (“Galata”), a Cayman Islands exempted company and a former U.S. publicly-listed special purpose acquisition company, today announced the closing of its previously announced business combination (the “Business Combination”) with Marti Technologies Inc. (“Marti”), a Delaware corporation.
  • The Business Combination was approved by Galata’s shareholders at an extraordinary general meeting held on July 6, 2023.
  • We are grateful for the support of our investors, stakeholders and Galata in our journey and we have great confidence in the future of Marti,” said Alper Oktem, Founder and Chief Executive Officer of Marti.
  • “We’re thrilled to conclude this merger today with Marti, which will result in Marti trading on the NYSE American stock exchange.

Levine Leichtman Capital Partners Portfolio Company Law Business Research Acquires MBL Seminars

Retrieved on: 
Lundi, juillet 10, 2023
Finance, Business, Professional Services, Other Professional Services, Legal, Partnership, MBL, LBR, Kirkland & Ellis, Centre for Economics and Business Research, Acquisition, Willkie Farr & Gallagher, Growth, Cryptocurrency

Law Business Research (“LBR”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced today that it has acquired MBL Seminars Limited (“MBL”).

Key Points: 
  • Law Business Research (“LBR”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced today that it has acquired MBL Seminars Limited (“MBL”).
  • Founded in 2003 and headquartered in Manchester, United Kingdom, MBL is the leading provider of compliance-led learning and development solutions for professional services firms.
  • The addition of MBL bolsters LBR’s product portfolio while reinforcing its mission of informing and connecting the global legal community.
  • We look forward to our continued partnership with Nick and the entire LBR management team.”
    LBR is a portfolio company of Levine Leichtman Capital Partners VI, L.P.
    LLCP was advised by Willkie Farr & Gallagher LLP and Kirkland & Ellis LLP.

Solenis Completes Acquisition of Diversey for $4.6 Billion

Retrieved on: 
Jeudi, juillet 6, 2023
LLP, Bain Capital, Platinum Equity, BofA Securities, Hygiene, Goldman Sachs, Acquisition, Willkie Farr & Gallagher, Gibson Dunn, Platinum, Renewable energy, Security (finance), Diversey, Solenis

WILMINGTON, Del., July 6, 2023 /PRNewswire/ -- Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previously announced acquisition of Diversey Holdings, Ltd., effective July 5, in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Diversey is a leading provider of hygiene, infection prevention and cleaning products and technology.

Key Points: 
  • With the acquisition, Solenis has grown to an enterprise operating in over 130 countries with 71 manufacturing facilities and more than 15,000 employees.
  • Headquartered in Wilmington, Delaware, Solenis was acquired by Platinum Equity in 2021.
  • Bain Capital, the majority shareholder of Diversey, will hold a minority stake in Solenis as a result of this transaction.
  • Gibson, Dunn & Crutcher LLP provided legal counsel and Willkie Farr & Gallagher LLP provided debt financing counsel to Platinum Equity and Solenis.

Solenis Completes Acquisition of Diversey for $4.6 Billion

Retrieved on: 
Mercredi, juillet 5, 2023
LLP, Bain Capital, Platinum Equity, BofA Securities, Multimedia, Hygiene, Goldman Sachs, Acquisition, Willkie Farr & Gallagher, Gibson Dunn, Platinum, Tissue paper, Renewable energy, Security (finance), Online shopping, Diversey, Solenis

WILMINGTON, Del., July 5, 2023 /PRNewswire/ -- Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previously announced acquisition of Diversey Holdings, Ltd., effective July 5, in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Diversey is a leading provider of hygiene, infection prevention and cleaning products and technology.

Key Points: 
  • With the acquisition, Solenis has grown to an enterprise operating in over 130 countries with 71 manufacturing facilities and more than 15,000 employees.
  • Headquartered in Wilmington, Delaware, Solenis was acquired by Platinum Equity in 2021.
  • Bain Capital, the majority shareholder of Diversey, will hold a minority stake in Solenis as a result of this transaction.
  • Gibson, Dunn & Crutcher LLP provided legal counsel and Willkie Farr & Gallagher LLP provided debt financing counsel to Platinum Equity and Solenis.

SYNTAGMA CAPITAL Completes the Acquisition of Erasteel, the High-Speed Steels and Recycling Division of Eramet S.A. (Euronext Paris: ERA)

Retrieved on: 
Mercredi, juillet 5, 2023
General Automotive, Engineering, Other Energy, Recycling, Utilities, Manufacturing, Alternative Vehicles, Fuels, Automotive, Alternative Energy, Energy, Machine Tools, Metalworking & Metallurgy, Environment, Other Automotive, Steel, Constellium, Metal, Willkie Farr & Gallagher, M&A, SSAB, Lincoln International, Growth, Mining, Syntagma

In addition, Erasteel has unique metal recycling capabilities in Europe, offering sustainable solutions for the recovery of batteries, catalysts and metals.

Key Points: 
  • In addition, Erasteel has unique metal recycling capabilities in Europe, offering sustainable solutions for the recovery of batteries, catalysts and metals.
  • €275m in revenues serving primarily the aerospace, automotive and industrial sectors across its 6 industrial sites in France, Sweden and China.
  • We also welcome Beatrice Charon, former VP of Strategy at Constellium, to the advisory board of Erasteel.
  • We also intend to accelerate the development of the recycling division of Erasteel in France” said Syntagma Partner Frank Coenen.

Nassau Financial Group Completes Acquisition of Delaware Life Insurance Company of New York

Retrieved on: 
Lundi, juillet 3, 2023
Professional Services, Insurance, Finance, Multimedia, Western & Southern Financial Group, Sidley Austin, Sale, Acquisition, NNY, Willkie Farr & Gallagher, Financial services, Financial adviser

Nassau Financial Group, L.P. (“Nassau”) today announced that its subsidiary, Nassau Life Insurance Company (“NNY”), has completed the acquisition of Delaware Life Insurance Company of New York (“DLNY”) from Delaware Life Insurance Company (“Delaware Life”), a Group 1001 company.

Key Points: 
  • Nassau Financial Group, L.P. (“Nassau”) today announced that its subsidiary, Nassau Life Insurance Company (“NNY”), has completed the acquisition of Delaware Life Insurance Company of New York (“DLNY”) from Delaware Life Insurance Company (“Delaware Life”), a Group 1001 company.
  • View the full release here: https://www.businesswire.com/news/home/20230703051837/en/
    NNY and DLNY are New York-domiciled life insurance companies, and Nassau plans to merge DLNY into NNY.
  • We look forward to welcoming the DLNY policyholders to Nassau.”
    "We have worked closely with Nassau Financial Group to ensure a smooth transition for our policyholders,'' said Dan Towriss, CEO and President of Group 1001, the parent company of Delaware Life.
  • Sidley Austin LLP served as legal advisor to Nassau, and Willkie Farr & Gallagher LLP served as legal advisor to Delaware Life.