Global law firm Greenberg Traurig advised a special purpose vehicle of Hilco Capital in relation to its acquisition of Design Group Americas from IG Design Group, a global manufacturer and distributor of celebrations, stationery, creative play and gifting products.
The transaction includes a nominal upfront cash payment by Hilco Capital of one U.S. dollar and a contingent future revenue share under which IG Design Group will receive a percentage of any future proceeds from the sale or realization of the company or its assets.
Design Group Americas’ existing U.S. receivables backed asset-based lending financing facility is being terminated upon completion of the transaction, and the company is in the process of securing a new three-year financing agreement with its lenders, which is expected to conclude by the end of June.
The Greenberg Traurig team representing Hilco Capital comprised banking and finance shareholder Luke Lado on both corporate and finance matters and corporate shareholder Joel Wheeler on corporate matters, with assistance from banking and finance Associate Suraj Padhiar.
