Dechert

BlackRock TCP Capital Corp. Announces Completion of Merger With BlackRock Capital Investment Corporation

Retrieved on: 
Monday, March 18, 2024
Professional Services, Small Business, Finance, Consulting, Banking, Accounting, Slate, BCIC, Growth, BlackRock, Dechert, Keefe, Bruyette & Woods, Cryptocurrency

BlackRock TCP Capital Corp. (“TCPC”)(NASDAQ: TCPC) today announced the closing of the previously announced merger with BlackRock Capital Investment Corporation (“BCIC”)(NASDAQ:BKCC).

Key Points: 
  • BlackRock TCP Capital Corp. (“TCPC”)(NASDAQ: TCPC) today announced the closing of the previously announced merger with BlackRock Capital Investment Corporation (“BCIC”)(NASDAQ:BKCC).
  • As a result of the merger, legacy TCPC shareholders and former BCIC shareholders own approximately 67.5% and 32.5%, respectively, of the combined company.
  • Houlihan Lokey served as financial advisor and Dechert LLP as the legal counsel to the special committee of TCPC.
  • Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to the advisors of TCPC and BCIC.

BlackRock TCP Capital Corp. Announces Completion of Merger With BlackRock Capital Investment Corporation

Retrieved on: 
Monday, March 18, 2024
Banking, Professional Services, Finance, Slate, BCIC, Growth, BlackRock, Dechert, Keefe, Bruyette & Woods, Cryptocurrency

BlackRock TCP Capital Corp. (“TCPC”)(NASDAQ: TCPC) today announced the closing of the previously announced merger with BlackRock Capital Investment Corporation (“BCIC”)(NASDAQ:BKCC).

Key Points: 
  • BlackRock TCP Capital Corp. (“TCPC”)(NASDAQ: TCPC) today announced the closing of the previously announced merger with BlackRock Capital Investment Corporation (“BCIC”)(NASDAQ:BKCC).
  • As a result of the merger, legacy TCPC shareholders and former BCIC shareholders own approximately 67.5% and 32.5%, respectively, of the combined company.
  • Houlihan Lokey served as financial advisor and Dechert LLP as the legal counsel to the special committee of TCPC.
  • Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to the advisors of TCPC and BCIC.

Grant Thornton to accelerate business strategy with investment from New Mountain Capital

Retrieved on: 
Friday, March 15, 2024
Legal, Insurance, Human Resources, Finance, Consulting, Banking, Accounting, Professional Services, Small Business, Other Professional Services, Automation, Culture, Growth, Grant Thornton International, Partnership, Research, Simpson Thacher & Bartlett, LLP, Investment, Dechert, Calendar, Hunton Andrews Kurth, CPA

Grant Thornton LLP, one of America’s leading providers of audit and assurance, tax, and advisory services, and New Mountain Capital, LLC, a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced a significant growth investment to accelerate Grant Thornton’s business strategy.

Key Points: 
  • Grant Thornton LLP, one of America’s leading providers of audit and assurance, tax, and advisory services, and New Mountain Capital, LLC, a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced a significant growth investment to accelerate Grant Thornton’s business strategy.
  • Grant Thornton is fueling its strategy by offering dynamic professional-development paths and a singular culture that attracts and retains talented team members.
  • “Our partnership with New Mountain Capital empowers Grant Thornton to deliver transformational, high-quality outcomes for our clients, our talented team members and the industry as a whole,” said Seth Siegel, CEO of Grant Thornton.
  • Following the closing of the transaction, which is expected in the second calendar quarter of 2024, Grant Thornton will operate in an alternative practice structure: Grant Thornton LLP, a licensed CPA firm, will provide attest services — and Grant Thornton Advisors LLC will provide business advisory and non-attest services.

Turtle Beach Announces Transformational Acquisition of PDP and Intention to Launch Reverse Dutch Tender Auction

Retrieved on: 
Wednesday, March 13, 2024
Entertainment, Consumer Electronics, Technology, Audio, Video, Electronic Games, Hardware, Common stock, Senior, Tax, Growth, Turtle Beach Corporation, Webcast, Sale, Acquisition, Security (finance), Record, PDP, Adjustment, Tender offer, GAAP, Tender, Depreciation, Motorola, Dechert, Transaction, Jefferies Group, Hand, Engineering, Management

Bringing PDP’s leading gaming controller category to Turtle Beach will provide additional scale and create future development opportunities.

Key Points: 
  • Bringing PDP’s leading gaming controller category to Turtle Beach will provide additional scale and create future development opportunities.
  • Consideration for the Transaction consists of the issuance of 3.45 million shares of Turtle Beach's common stock and approximately $79.9 million in cash.
  • The acquisition of PDP adds significant financial benefits to Turtle Beach that, in conjunction with synergies realized, fundamentally transforms the financial profile of the Company.
  • Executive Management and the Board of Directors of Turtle Beach do not plan on participating in the tender offer.

The L.S. Starrett Company Enters Into a Merger Agreement With MiddleGround Capital to Become Private Company

Retrieved on: 
Monday, March 11, 2024
Machinery, Machine Tools, Metalworking & Metallurgy, Automotive Manufacturing, Manufacturing, Starrett, Acquisition, Dechert, Ropes & Gray

Starrett Company (“Starrett” or the “Company”) (NYSE: SCX) today announced that it has entered into a definitive merger agreement in a go-private transaction with an affiliate of MiddleGround Capital (“MiddleGround”) in an all-cash transaction for $16.19 per share.

Key Points: 
  • Starrett Company (“Starrett” or the “Company”) (NYSE: SCX) today announced that it has entered into a definitive merger agreement in a go-private transaction with an affiliate of MiddleGround Capital (“MiddleGround”) in an all-cash transaction for $16.19 per share.
  • “Following comprehensive outreach to potential parties, our Board of Directors determined that MiddleGround is the right partner for Starrett because of its deep knowledge within the manufacturing industry.
  • Lincoln International LLC is serving as lead financial advisor to Starrett and Ropes & Gray LLP is serving as legal counsel to Starrett.
  • is serving as exclusive financial advisor to MiddleGround in connection with the acquisition and debt financing of Starrett and Dechert LLP is serving as legal counsel to MiddleGround.

mdf commerce enters definitive agreement to be acquired by KKR

Retrieved on: 
Monday, March 11, 2024
Desjardins, Arrangement, Meeting, TSX, Ascendant, Toronto Stock Exchange, KKR, Scotiabank, Sale, Transaction, Government, Calendar, Commerce, Proxy, Indian stock exchange, Software as a service, Dechert, LLP, Consideration, Canada Business Corporations Act, Partner, Stikeman Elliott

Upon completion of the Transaction, mdf commerce will become a privately held company.

Key Points: 
  • Upon completion of the Transaction, mdf commerce will become a privately held company.
  • “We are excited to strategically partner with KKR to accelerate our expansion and scale our industry-leading platform even further.
  • I am confident that KKR is the ideal partner for mdf commerce and can contribute to the Company’s continued success.”
    “KKR is closely aligned with management’s vision to accelerate technology innovation across the broader mdf commerce platforms,” said John Park, Partner at KKR.
  • “We look forward to the enormous opportunity ahead for the mdf commerce eProcurement platform as governments increasingly embrace digital solutions.

Velosio Announces Investment from Court Square Capital Partners

Retrieved on: 
Thursday, March 7, 2024
Professional Services, Data Management, Apps, Applications, Technology, Finance, Networks, Cloud, Azure, Dechert, Growth, Court Square, Guggenheim Partners, Court Square Capital Partners, Microsoft Dynamics, Microsoft, Microsoft Power BI, Partnership

Velosio , a leading provider of digital transformation services, managed services, and managed cloud subscriptions for the Microsoft Dynamics ecosystem, today announced a strategic investment from Court Square Capital Partners (“Court Square”), a middle market-focused private equity firm with $7.7 billion in assets under management.

Key Points: 
  • Velosio , a leading provider of digital transformation services, managed services, and managed cloud subscriptions for the Microsoft Dynamics ecosystem, today announced a strategic investment from Court Square Capital Partners (“Court Square”), a middle market-focused private equity firm with $7.7 billion in assets under management.
  • “Microsoft’s Cloud Solutions are expected to continue to grow at strong double-digit rates,” said Matt Dennett, Partner at Court Square.
  • We are excited to help Bob and the Velosio team execute on the next stage of their exciting strategic vision,” added Jeff Vogel, Managing Partner at Court Square.
  • Baird served as financial advisor and Dechert LLP as legal advisor to Court Square.

Dechert Strengthens M&A and Private Equity Capabilities with Addition of Brian Miner

Retrieved on: 
Thursday, February 29, 2024
Dechert, Acuris, M&A, Negotiation, Refinitiv, Heel, Insurance, Bloomberg, Financial services

NEW YORK, Feb. 29, 2024 /PRNewswire/ -- Dechert LLP announced today the addition of Brian Miner as a partner in its corporate and securities practice group, further bolstering the firm's capabilities in middle market private equity and M&A.

Key Points: 
  • NEW YORK, Feb. 29, 2024 /PRNewswire/ -- Dechert LLP announced today the addition of Brian Miner as a partner in its corporate and securities practice group, further bolstering the firm's capabilities in middle market private equity and M&A.
  • Miner joins Dechert from a New York-based law firm, where he served as co-chair of the M&A and securities group.
  • "Brian's breadth of experience advising private equity and other alternative asset management firms is directly aligned with our goal to deepen our private equity and M&A practice.
  • Our global team advises private equity, private credit and other alternative asset managers on flexible solutions at every phase of the investment life cycle.

Dechert Advises Yodel on the Sale of its Business

Retrieved on: 
Wednesday, February 14, 2024
Shift, Sale, Bankruptcy, Lawyer, Dechert, Corporation, Employment

LONDON, Feb. 14, 2024 /PRNewswire/ -- Dechert advised the Board of Yodel Delivery Network Limited and its various group companies on the sale of Yodel, a parcel delivery business, with Weil acting as transaction counsel on the sale.

Key Points: 
  • LONDON, Feb. 14, 2024 /PRNewswire/ -- Dechert advised the Board of Yodel Delivery Network Limited and its various group companies on the sale of Yodel, a parcel delivery business, with Weil acting as transaction counsel on the sale.
  • The sale allowed the business to be sold on a solvent basis and save 10,000 jobs.
  • The transaction involved the Yodel business being acquired by YDLGP, a newly formed company.
  • Dechert has a market-leading financial restructuring team across the United States, Europe and Asia with experience representing clients across the globe.

Franklin BSP Capital Corp. Completes Merger with Franklin BSP Lending Corp.

Retrieved on: 
Wednesday, January 24, 2024
Asset Management, Professional Services, Business, Finance, Simpson Thacher & Bartlett, LLP, Dechert, FBCA, Keefe, Bruyette & Woods, Environment, BSP, L.L.C, Growth

Franklin BSP Lending Corporation (“FBLC”) and Franklin BSP Capital Corporation (“FBCC”), business development companies (“BDCs”) managed by affiliates of Benefit Street Partners L.L.C.

Key Points: 
  • Franklin BSP Lending Corporation (“FBLC”) and Franklin BSP Capital Corporation (“FBCC”), business development companies (“BDCs”) managed by affiliates of Benefit Street Partners L.L.C.
  • (“BSP”), today announced the completion of their previously announced merger.
  • FBCC is the surviving company in the merger and will continue to be advised by Franklin BSP Capital Adviser L.L.C., an affiliate of BSP (“FBCA”).
  • Richard Byrne, President of BSP and CEO & Chairman of FBCC, said, “We are pleased to announce the completion of the merger between FBLC and FBCC.