Willkie Farr & Gallagher

Franchise Group, Inc. Announces Definitive Agreement to Be Acquired by a Consortium Led by Management Group

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Mercredi, mai 10, 2023

Wardwell, LLP, Receipt, Partnership, Franchise Group, Wachtell, Lipton, Rosen & Katz, Tripura Merger Agreement, Hart–Scott–Rodino Antitrust Improvements Act, Committee, FRG, Affiliated Managers Group, Mergers and acquisitions, Oliver Cromwell, Jefferies Group, Willkie Farr & Gallagher, Sullivan & Cromwell, Canadian House of Commons Special Committee on Electoral Reform, Security (finance), Cryptocurrency

DELAWARE, Ohio, May 10, 2023 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”), today announced that it has entered into a definitive agreement and plan of merger (the “Merger Agreement”) pursuant to which members of the senior management team of Franchise Group led by Brian Kahn, the Company’s Chief Executive Officer, (collectively with affiliates and related parties of the senior management team, the “Management Group”), in financial partnership with a consortium that includes B. Riley Financial, Inc. and Irradiant Partners, will acquire the approximately 64% of the Company’s issued and outstanding common stock that the Management Group does not presently own or control. The transaction has an enterprise value of approximately $2.6 billion, including the Company’s net debt and outstanding preferred stock.

Key Points:

Under the terms of the proposed merger, Franchise Group common stockholders, other than the Management Group (the “Public Stockholders”), will receive $30.00 in cash for each share of Franchise Group common stock they hold.
“This transaction is an exciting milestone for our company,” said Matt Avril, Chairman of the Board of Directors and the Special Committee of Franchise Group.
As previously announced, Franchise Group plans to release its fiscal 2023 first quarter financial results prior to trading today, May 10, 2023.
In light of the announcement of the proposed merger, Franchise Group will conduct a conference call at 8:30 A.M.

Arconic to Be Acquired by Apollo Funds

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Jeudi, mai 4, 2023

Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced today that it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo”), in an all-cash transaction that values the Company at an enterprise value of approximately $5.2 billion.

Key Points:

Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced today that it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo”), in an all-cash transaction that values the Company at an enterprise value of approximately $5.2 billion.
“This transaction represents a realization of value for Arconic shareholders at a meaningful premium and enables the Company to execute its long-term strategic vision.
We are pleased to reach this agreement with Apollo,” said Fritz Henderson, Chairman of the Arconic Board of Directors.
and Goldman Sachs & Co. LLC are serving as financial advisors to Arconic, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Arconic.

Raisely Joins Aplos To Help Nonprofits Raise $1 Billion Online

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Lundi, mai 1, 2023

Professional Services, Philanthropy, Technology, Fund Raising, Software, Fintech, ASG, Willkie Farr & Gallagher, Organic, Entrepreneurship, Multimedia, Management, Aplos Software

Raisely , an innovative nonprofit fundraising platform, today announced that it will join Aplos , the foundation of ASG 's nonprofit software vertical.

Key Points:

Raisely , an innovative nonprofit fundraising platform, today announced that it will join Aplos , the foundation of ASG 's nonprofit software vertical.
View the full release here: https://www.businesswire.com/news/home/20230501005572/en/
Since its founding in 2016, Raisely has helped nonprofits raise over $250 million dollars online through its innovative fundraising platform.
"With Raisely by our side, Aplos can further its goal to equip nonprofits with the best technology to advance their causes.
We're excited to accelerate Raisely in the U.S., which is home to the biggest charity market in the world.

Homebot Acquires Quo, a Mobile App for First Time Homebuyers

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Mardi, mars 21, 2023

Software, Construction & Property, Finance, Other Education, Professional Services, Technology, Education, Residential Building & Real Estate, ASG, Willkie Farr & Gallagher, Growth, Entrepreneurship, Acquisition, Multimedia, Real estate, Quo

As part of the acquisition, Quo’s team, led by Co-Founders Tucker Haas and Neel Yerneni will join the Homebot team.

Key Points:

As part of the acquisition, Quo’s team, led by Co-Founders Tucker Haas and Neel Yerneni will join the Homebot team.
Quo’s app helped first time homebuyers get mortgage-ready by guiding its customers throughout the home buying process — starting with the daunting task of qualifying for a loan.
"Later this year, Homebot's customers will have the ability to offer a Homebot native mobile app to their millions of engaged clients and attract more first time homebuyers to their pipelines.
Willkie Farr & Gallagher LLP served as legal counsel to Homebot.

Diversey to be Acquired by Solenis for $4.6 Billion

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Mercredi, mars 8, 2023

Solenis (“Solenis”) and Diversey Holdings, Ltd. (“Diversey” or the “Company”) (NASDAQ: DSEY) today announced they have entered into a definitive merger agreement under which Solenis will acquire Diversey in an all-cash transaction valued at an enterprise value of approximately $4.6 billion.

Key Points:

Solenis (“Solenis”) and Diversey Holdings, Ltd. (“Diversey” or the “Company”) (NASDAQ: DSEY) today announced they have entered into a definitive merger agreement under which Solenis will acquire Diversey in an all-cash transaction valued at an enterprise value of approximately $4.6 billion.
Headquartered in Wilmington, Delaware, Solenis is a leading manufacturer of specialty chemicals used in water-intensive industries, which was acquired by Platinum Equity in 2021.
Diversey is a leading provider of hygiene, infection prevention and cleaning solutions based in Fort Mill, South Carolina.
Bain Capital, which invested in Diversey in 2017 and subsequently took the Company public in 2021, is currently the largest shareholder of Diversey.

Ariel Re Secures $270m of New Capital to Support 2023 Growth

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Lundi, mars 6, 2023

Professional Services, Insurance, Finance, Flower, PCC, London Bridge, Willkie Farr & Gallagher, LB2, J.C. Flowers & Co., Future, Syndicate, Financial services

Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has announced it has secured $270 million of capital from five new institutional and family office investors to support exciting growth opportunities in 2023.

Key Points:

Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has announced it has secured $270 million of capital from five new institutional and family office investors to support exciting growth opportunities in 2023.
In addition to the new investors’ capital, Pelican Ventures and JC Flowers have meaningfully increased their underwriting capital commitments to support Ariel Re’s growth.
As part of this capital raise, Ariel Re secured $170 million through LB2 – becoming the first sponsor to raise capital through the LB2 structure.
We hope that Ariel Re will be the first of many to use LB2.”
Howden Tiger Capital Markets & Advisory, the capital markets arm of reinsurance broker Howden Tiger, acted as exclusive financial advisor to Ariel Re.

Available Power, Linxon unveil strategic partnership with 1 GW battery energy storage project pipeline

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Mardi, février 28, 2023

Heart, Growth, LLP, Partnership, EPC, SNC-Lavalin, BESS, Power, Willkie Farr & Gallagher, ERCOT, Renewable energy

BOULDER, Colo. and RALEIGH, N.C., Feb. 28, 2023 /PRNewswire/ -- Today Available Power, a pure-play developer of investment-grade battery energy storage systems, and Linxon, a joint venture of SNC-Lavalin and Hitachi Energy, announced a strategic partnership to scale the North American energy storage market.

Key Points:

BOULDER, Colo. and RALEIGH, N.C., Feb. 28, 2023 /PRNewswire/ -- Today Available Power, a pure-play developer of investment-grade battery energy storage systems, and Linxon, a joint venture of SNC-Lavalin and Hitachi Energy, announced a strategic partnership to scale the North American energy storage market.
Linxon has already secured access to the necessary equipment supply to deliver on the first tranche of Available Power's 1,000+ megawatt (1+ gigawatt) front-of-meter project pipeline in Texas's ERCOT market territory.
As of December 2022, ERCOT had ~2.7 GW of installed battery capacity, meaning that Available Power's pipeline alone represents a ~37% increase with its 1 GW of new planned capacity.
Willkie Farr & Gallagher LLP served as legal advisor to Available Power in connection with this strategic partnership.

Second Alpha Raises Oversubscribed $170 Million Fund V

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Mardi, février 28, 2023

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NEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Second Alpha Partners ("Second Alpha" or the "Firm"), a New York-based private equity firm focused on secondary and secondary-linked investments in mature, growth-stage technology companies, is pleased to announce the closing of the Firm's latest fund, Second Alpha Partners V, L.P. ("Fund V"), with $170 million in limited partner commitments.

Key Points:

NEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Second Alpha Partners ("Second Alpha" or the "Firm"), a New York-based private equity firm focused on secondary and secondary-linked investments in mature, growth-stage technology companies, is pleased to announce the closing of the Firm's latest fund, Second Alpha Partners V, L.P. ("Fund V"), with $170 million in limited partner commitments.
Fund V was oversubscribed, securing commitments from a diversified set of investors including insurance companies, foundations, multi-strategy funds, multi-family offices, single family offices and industry executives.
Second Alpha was founded in 2012 by Richard Brekka and Jim Sanger who continue to manage the Firm as Managing Partners.
FocusPoint Private Capital Group acted as placement agent to Second Alpha for Fund V and Willkie Farr & Gallagher acted as legal counsel.

Levine Leichtman Capital Partners to Sell GL Education

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Mardi, février 21, 2023

Education, Professional Services, Other Education, Finance, Learning, Francisco Partners, Partnership, Partner, Willkie Farr & Gallagher, School, Growth, GL, Sale, Student, Blackstone Inc., Tutoring, Renaissance

Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has agreed to sell its portfolio company GL Education to Renaissance, a portfolio company of Blackstone Group and Francisco Partners.

Key Points:

Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has agreed to sell its portfolio company GL Education to Renaissance, a portfolio company of Blackstone Group and Francisco Partners.
Founded in 1980 and based in London, England, GL Education (known in the UK and Ireland as GL Assessment) was created to help educators ensure children realize their full potential with a “whole-child” approach to formative assessment.
GL Education is an investment of Levine Leichtman Capital Partners V, L.P.
Baird and Willkie Farr & Gallagher advised LLCP and GL Education on the transaction.

Troika Media Group, Inc Retains Leading Investment Banking Firm Jefferies LLC to Optimize its Capital Structure and Explore Strategic Alternatives

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Mercredi, février 22, 2023

Willkie Farr & Gallagher, Jefferies Group, TMG, Acquisition, Jefferies, Management

NEW YORK, Feb. 22, 2023 /PRNewswire/ -- Troika Media Group, Inc. (Nasdaq: TRKA) ("TMG"), a consumer engagement and customer acquisition solutions group, announces the engagement of Jefferies LLC ("Jefferies"), a leading global, full-service investment banking firm to optimize TMG's existing capital structure and to explore strategic alternatives.

Key Points:

NEW YORK, Feb. 22, 2023 /PRNewswire/ -- Troika Media Group, Inc. (Nasdaq: TRKA) ("TMG"), a consumer engagement and customer acquisition solutions group, announces the engagement of Jefferies LLC ("Jefferies"), a leading global, full-service investment banking firm to optimize TMG's existing capital structure and to explore strategic alternatives.
TMG is a professional services company that architects and builds enterprise value in consumer brands to generate scalable performance driven revenue growth.
Jefferies will lead the Company's efforts to optimize the Company's balance sheet and address its legacy capital structure, including its senior secured debt and to explore strategic alternatives.
We believe that now is the time to explore opportunities to optimize our capital structure and have engaged a market leader in Jefferies to maximize our ability to deliver shareholder value.