(April 2, 2012, Weil News)
Global law firm Weil, Gotshal & Manges represented Brazos Private Equity Partners in the merger and recapitalization of its portfolio companies Ennis Paint, Inc. and Flint Trading, Inc. Brazos will be the majority investor in the combined entity, Ennis-Flint, which, as a result of the merger, will become the leading global provider of pavement marking materials, with an enterprise value of approximately $575 million. The completed merger, announced today, was financed with a new $405 million credit facility arranged by Credit Suisse Securities (USA) LLC; other terms were not disclosed.
Ennis-Flint makes and sells highly durable and retro-reflective marking products used in the construction, maintenance and repair of highways, roads, airports and other applications, to government and commercial customers worldwide, with manufacturing facilities located in the US, Canada, Australia, and Europe. The combined entity will continue to operate out of corporate offices in Dallas, Texas and Thomasville, North Carolina.
Based in Dallas, Brazos Private Equity Partners manages approximately $1.4 billion of equity capital, focusing on investments in leading middle-market commercial and industrial, consumer, healthcare and business services companies.
Weil’s team was led by M&A partner Glenn West and included M&A associates Brett Thorstad and Elliott DeRemer, and paralegals Brooke Collier and Melissa Coleman; Finance partners Angela Fontana and Richard Ginsburg, counsel Christopher Gleason, associates Lucas Spivey, Mei Dan, and Tom Hashagen, and paralegal Charlotte Mayes; Tax partner Jared Rusman and associate Andrew Pelzer; Antitrust partner John Scribner, counsel John Sipple, associate Robin Cook, and paralegal Joseph Rafferty; Environmental Transactions partner Annemargaret Connolly and associate Matthew Morton; Benefits partners Michael Kam and Steven Margolis, and associates Joshua Gelfand and Avi Sinensky; Technology & IP Transactions counsel Arlene Hahn; and Real Estate attorney Leslie Smith and paralegal Peggy Jones.