Private Equity Finance
Weil has a world-class Private Equity Finance team with lawyers who focus primarily on private equity-backed deals. As a result, we know the market in “real time” and provide our private equity clients with current, up-to-date market intelligence.
Weil has a dedicated Private Equity Finance team that works seamlessly across borders, as well as in conjunction with our Private Equity execution team, to provide complete, best-in-class coverage for leveraged private equity transactions. Our team provides ongoing guidance to our private equity clients and their portfolio companies from the initial acquisition or investment through the exit via a sale or IPO, including advice regarding covenant compliance and reporting, public filings, creditor relationship management, amendments, repricing transactions, refinancings, restructurings, and financing advice in connection with tack-on acquisitions and divestitures.
Broad-based service offering
The Private Equity Finance team advises private equity sponsors and their portfolio companies on a diverse array of financing and capital markets transactions, including:
- Leveraged finance
- Acquisition financings
- High-yield bond offerings
- Asset-based financings
- First and second lien financings
- Bridge loans
- Unitranche and mezzanine financings
- Cross-border, foreign and multicurrency financings
- Sponsor debt investments
- Dividend recapitalizations
- IPOs
- Secondary and follow-on equity offerings
Selected Representations
Advent International
- Advent International in first and second lien facilities to finance its acquisition of a majority stake in ATI Physical Therapy Holdings, LLC, a provider of outpatient rehabilitation services, including physical therapy and work conditioning.
- Advent International and Bain Capital, as sponsors, in the £2 billion ($3.1 billion) initial public offering of Worldpay Group (United Kingdom), a provider of online payment processing services to small to medium sized businesses worldwide, one of the largest London IPOs of 2015.
- Serta Simmons Bedding LLC and its subsidiaries (a portfolio company of Advent International), manufacturers of bedding products, in $2.4 billion first and second lien term facilities and an amendment and restatement of their existing $225 million asset-based revolving facility in connection with a dividend recapitalization.
- Vantiv, Inc. (a joint venture of Advent International and Fifth Third Bank), a leading credit, debit and gift card payment processor, in its $575 million initial public offering and more than $3 billion of secondary offerings of common stock (including a simultaneous secondary and stock repurchase).
- Cotiviti Holdings, Inc. (f/k/a Connolly iHealth Technologies) (a publicly traded company backed by Advent International Corporation), a global recovery audit firm, in its $246 million initial public offering and in a $349 million secondary offering of its common shares.
American Securities
- American Securities in $1.4 billion senior secured facilities and in a $500 million offering of senior 144A notes to finance in part its $2.5 billion take-private acquisition of Air Methods Corporation, an air medical transport provider, designer and manufacturer of medical aircraft interiors and a provider of air-tourism services.
- American Securities in $530 million multicurrency and multitranche first and second lien facilities to finance its acquisition of Chromaflo Technologies Corporation, a global supplier of colorant systems, chemical and pigment dispersions for the architectural and industrial coatings and thermoset composites markets, from Arsenal Capital Management and Nordic Capital.
- American Securities in $360 million senior secured facilities to finance its acquisition of Henry Company LLC, a producer of building envelope products and systems.
Avista Capital Partners
Avista Capital Partners, as selling shareholder, in the £1.6 billion ($1.9 billion) 144A initial public offering of ConvaTec Group Plc (United Kingdom), a developer of therapies for the management of chronic conditions with market positions in advanced wound, ostomy, continence and critical care, and infusion devices. At the time, this was the 9th largest global healthcare IPO of all time and the largest United Kingdom IPO of 2016.
Baring Private Equity Asia
HCP Holdings (a portfolio company of Baring Private Equity Asia), a designer and manufacturer of primary packaging containers for the cosmetics, skincare and fragrance industries, in connection with a loan to fund its acquisition of SIMP S.A., a France‐based manufacturer of cosmetic plastic applicators sand rubber technical parts, from Omnes Capital.
Berkshire Partners
Berkshire Partners in a $220 million term loan facility, a $100 million asset-based revolving credit facility, and a $100 million mezzanine notes offering for its acquisition of SRS Distribution, the fourth largest residential roofing distributor in the United States.
CCMP Capital Advisors
- Ollie’s Bargain Outlet, Inc. (a portfolio company of CCMP Capital Advisors), an extreme value retailer, in its $164 million initial public offering and NASDAQ listing and in $886 million secondary offerings of its common shares.
- PQ Corporation (a portfolio company of CCMP Capital Advisors), a global provider of specialty inorganic performance chemicals, high-end catalysts and engineered glass beads, in $200 million asset-based revolver and $1.2 billion senior secured multicurrency term facility to finance the reorganization and combination of PQ and Eco Group Services Holdings LLC (also a portfolio company of CCMP Capital Advisors), a North American provider of sulfuric acid recycling services.
Centerbridge Partners
- Centerbridge Partners in secured term and asset-based revolving facilities and a $390 million senior notes offering to finance its acquisition of KIK Custom Products, Inc., a provider of pool and spa treatment products and a manufacturer of household and personal care products.
- KIK Custom Products (a portfolio company of Centerbridge Partners) in $500 million add-on senior 144A notes offerings to refinance existing indebtedness.
- Centerbridge Partners in a €950 million ($1 billion) senior credit facility and in a €400 million ($430 million) senior secured notes offering by Rapid Holding GmbH to finance in part its acquisition of Senvion SE (formerly REpower Systems SE) (Germany), a manufacturer of onshore and offshore wind turbines.
- Focus Financial Partners, LLC (at the time, a portfolio company of Centerbridge Partners, Summit Partners and Polaris Partners), a partnership of independent wealth management firms and advisors, in $1.2 billion senior secured facilities to finance its approximately $2 billion pending acquisition by an investor group led by Stone Point Capital and KKR.
General Atlantic
General Atlantic and Hyperion Insurance Group in a $750 million term facility and £85 million ($130 million) revolving facility to finance Hyperion’s acquisition of R K Harrison Holding Limited.
Genstar Capital
- Genstar Capital in $215 million first and second lien senior secured facilities to finance its acquisition of Infinite RF Holdings, Inc. (n/k/a Infinite Electronics, Inc.), a supplier of engineering grade radio frequency (RF) technology components.
- Genstar Capital in $393 million first and second lien facilities to finance its acquisition of Power Products LLC, a manufacturer and supplier of electrical products for construction and maintenance, recreational marine and specialty vehicles, industrial power, and transportation, from Sentinel Capital Partners.
Goldman Sachs PIA
Goldman Sachs in $745 million first and second lien credit facilities to finance its acquisition of PSAV Presentation Services, a provider of audiovisual equipment and event technology services within the hotel, resort and conference center industries.
JAB Holding Company
JAB Holding Company, as leader of an investment group, and Keurig Green Mountain, Inc., a provider of specialty coffees and of single-cup brewing system coffee makers, in $6.4 billion multicurrency senior secured facilities to finance in part the investment group's $13.9 billion take private of Keurig Green Mountain.
Lindsay Goldberg
Lindsay Goldberg in a $715 million senior secured credit facility to finance its acquisition of Dealer Tire, LLC, a company that assists auto manufacturers with managing tire programs targeting auto dealerships.
Ontario Teachers’ Pension Plan Board
Ontario Teachers’ Pension Plan Board in first and second lien multicurrency facilities to finance in part its C$1.03 billion ($773 million) acquisition of the Canadian wine business of Constellation Brands Canada, Inc., a producer and marketer of wines and related products in Canada and the United States.
OMERS Private Equity
OMERS Private Equity in $830 million first and second lien facilities to finance in part its pending acquisition of Inmar, Inc., an operator of intelligent commerce networks that connect offline and online transactions in real time for the world’s largest retailers, manufacturers and trading partners, and to refinance Inmar's third-party debt.
Papa Murphy's
Papa Murphy's Holdings, Inc. (a portfolio company of Lee Equity Partners), an operator and franchisor of Take 'N' Bake pizza restaurants, in its $64 million initial public offering.
Providence Equity Partners
- Topgolf International, Inc. (a portfolio company of Providence Equity Partners), an operator of golf entertainment facilities in the United States and the United Kingdom that offer point-scoring golf games, food, beverages, music and apparel, in $275 million senior secured facilities to refinance existing indebtedness.
- Univision Communications (a portfolio company of TPG, Providence Equity Partners, Thomas H. Lee Partners and Madison Dearborn Partners), a major Spanish-language broadcaster operating in the US market, in over $7.2 billion of high yield notes offerings, and in its $3.9 billion credit facilities refinancing.
Thomas H. Lee Partners
- Thomas H. Lee Partners in a $605 million senior secured term loan facility and $225 million senior unsecured notes offering to finance its acquisition of CompuCom Systems, a provider of information technology outsourcing services and products.
- Ceridian Corporation (a portfolio company of Thomas H. Lee Partners and Fidelity National Financial), a provider of payroll and human resources, employee benefits administration, workforce management and related services, in more than $3 billion of high yield notes offerings, and in its $2.45 billion credit facilities refinancing.
A formidable borrower-side practice managed by a sophisticated team. Always good to see them on the other side of a deal.
Chambers USA
The firm's extensive international coverage enables the team to capitalise on both local and US expertise when assisting its high-end private equity clientele.
Chambers UK
The ‘consistently strong’ team is described by one client as being ‘at the cutting edge of corporate finance’ and demonstrates ‘excellent knowledge.’
Legal 500 US
Increasingly visible in the European market both in terms of senior bank debt and high yield bonds, Weil, Gotshal & Manges is a ‘real force to be reckoned with.’
Legal 500 UK