Davis Polk & Wardwell Archives

Air Methods Receives Court Approval for Financial Restructuring Plan

Air Methods, an air medical service provider in the U.S., announced the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s prepackaged plan of reorganization. Air Methods expects to emerge from Chapter 11 bankruptcy before the end of the year.

Ares and Vinci Partners Enter Strategic Partnership and Investment

Ares Management Corporation and Vinci Partners Investments reached an agreement to form a strategic partnership. Additionally, an affiliate of Ares will concurrently make a $100 million investment in new convertible preferred shares to be issued by Vinci.

Instant Brands Obtains $30MM in New Term Loan Financing

Instant Brands, a houseware and appliance manufacturer with brands like Pyrex and Instant Pot, received a commitment for an additional $30 million in new term loan financing from its existing lenders, increasing the amount of the company’s term loan credit facility to $162.5 million.

August 10, 2023 AlixPartners | Ben Gadbois | Davis Polk & Wardwell | Guggenheim Securities | Instant Brands Ian Koplin

QualTek Services Emerges from Chapter 11

QualTek Services, an infrastructure services provider, emerged from Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas following the confirmation of its plan of reorganization on June 30.

Man Group Acquires Varagon Capital Partners

Man Group entered into an agreement to acquire a controlling interest in Varagon Capital Partners, a middle-market private credit manager with $11.8 billion of assets under management and $15.4 billion of total client commitments.

Instant Brands Files for Chapter 11, Appoints Hollerbach of AlixPartners Chief Restructuring Officer

Instant Brands filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Additionally, the company appointed Adam Hollerbach, partner and managing director at AlixPartners, chief restructuring officer.

June 13, 2023 Adam Hollerbach | AlixPartners | Ben Gadbois | Davis Polk & Wardwell | Instant Brands Ian Koplin

Blackstone Completes Acquisition of Copeland, Formerly Emerson Climate Technologies

Blackstone completed the acquisition of a majority stake in Emerson’s climate technologies business in a transaction valuing the business at $14 billion. The new standalone business will be named Copeland.

Centerbridge Partners Leads $665MM Credit Facility for Sabre

Sabre GLBL, a wholly-owned subsidiary of Sabre Corporation, entered into a commitment letter with lenders led by Centerbridge Partners for a $665 million senior secured credit facility to Sabre Financial Borrower LLC, a newly created, wholly-owned subsidiary of Sabre GLBL.

May 26, 2023 Centerbridge Partners | Davis Polk & Wardwell | Mayer Brown | Perella Weinberg Partners | Sabre Corporation Ian Koplin

Virgin Orbit Files Plan to Resolve Outstanding Claim and Interests

Virgin Orbit Holdings and its U.S. subsidiaries filed a plan, which provides for, among other things, resolution of outstanding claims and interests and a related disclosure statement in the U.S. Bankruptcy Court for the District of Delaware.

Virgin Orbit Commences Voluntary Chapter 11 Proceeding

Virgin Orbit Holdings and its U.S. subsidiaries, a responsive space launch provider, commenced a voluntary proceeding under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in the District of Delaware in order to effectuate a sale of the business.

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