Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
Apollo Completes Lumileds Acquisition
- Client News
- June 30, 2017
Paul, Weiss advised Apollo Global Management, LLC in its acquisition of an 80.1 percent interest in Lumileds, a leading supplier of LED components and automotive lighting, from Royal Philips. Royal Philips retained a 19.9 percent interest in Lumileds. The transaction implied an enterprise value of approximately $2 billion. Concurrently with the closing of the transaction, Bright Bidco B.V., which is majority-owned by funds affiliated with Apollo Global Management, LLC, entered into a credit agreement in respect of a $1.15 billion term loan facility and a $200 million revolving loan facility. The proceeds from the term loans were used to fund the acquisition.
The Paul, Weiss team included corporate partners David Lakhdhir, Gregory Ezring and Brad Finkelstein and counsel David Carmona and Wendy Semel; intellectual property counsel Menachem Kaplan; tax partner Brad Okun; international trade counsel Richard Elliott; litigation counsel Peter Jaffe; employee benefits partner Lawrence Witdorchic; and real estate partner Mitchell Berg and counsel Barry Langman.