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.
Wellspring Affiliate Acquires Jen-Coat
On August 3, an affiliate of Paul, Weiss client Wellspring Capital Management closed its acquisition of Jen-Coat, Inc., a supplier of a wide range of extrusion coated and laminated, metallized, and adhesive laminated materials to the food packaging, health care and industrial markets. Products include sugar/sugar sub packets, paper/foil laminations, film/foil laminations, composite can laminations, coated nonwovens, QSR wrap, release papers and many other specialty packaging materials.
This is the first acquisition of what is intended to be a roll-up strategy for Wellspring in this industry. The transaction was financed with senior debt from GE and certain other lenders and subordinated debt and equity provided by Wellspring.
The M&A team was led by partner Angelo Bonvino and included associates Zach Augustine and Andrew Hennigar and summer associate Amanda Melvin, with assistance from partner James Schwab. The senior debt financing team was led by partner Eric Goodison and included associates David Carmona, Leslie Gold, Adam Masser and summer associate Kennedy Gachiri, with assistance from partner Tom de la Bastide. Counsel Stephen Koo and associate Stacy McDonald led the subordinated debt financing. Partner Larry Witdorchic, associate Verity Rees and former associate Kim Steefel provided employee benefits advice, including negotiation of the employment package for the incoming CEO of the roll-up holding company. Partner Peter Rothenberg and associate David Buchwald provided tax advice. Associates Mitch Carbullido and Zoe Hilden provided IP advice. Partners Peter Fisch and Harris Freidus and associate Sena Ku provided real estate advice. Counsel Bill O'Brien provided environmental law advice.