Strategic Materials Files Chapter 11, Secures $23MM in DIP Financing

North American glass recycling company Strategic Materials 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. The company also secured new money commitments of $23 million for a debtor-in-possession financing facility.

December 5, 2023 Alvarez & Marsal | Chris Dods | Moelis & Company | Strategic Materials | Vinson & Elkins | Wachtell Lipton Rosen & Katz Ian Koplin

New Enterprise Associates Provides $60MM Credit Facility to Bright Health Group

Bright Health Group, a healthcare company, entered into a credit facility with an investment partnership of New Enterprise Associates with $60 million of credit capacity on Aug. 4, 2023.

August 7, 2023 Bright Health Group | Mike Mikan | Moelis & Company | New Enterprise Associates | Simpson Thacher & Bartlett Ian Koplin

Tupperware Brands Finalizes Debt Restructuring Agreement

Tupperware Brands finalized an agreement with its lenders to restructure its existing debt obligations, improving the company’s overall financial position by amending certain credit obligations and extending the maturity of certain debt facilities to allow it to continue with its turnaround efforts.

August 4, 2023 Alvarez & Marsal | Mariela Matute | Moelis & Company | Tupperware Brands Ian Koplin

H.I.G. Capital Completes Sale of Riveron to Kohlberg

H.I.G. Capital, a global alternative investment firm with $57 billion of capital under management, completed the sale of its portfolio company Riveron to affiliates of Kohlberg & Company. H.I.G. will continue its partnership with Riveron through a minority investment. The sale was first announced in June. 

July 14, 2023 Citizens | Greenberg Traurig | Guggenheim Securities | H.I.G. Capital | Jefferies Group | Jon Contos¸ Keval Patel | Julie Howard | Kohlberg | McDermott Will & Emery | Moelis & Company | Riveron | Ropes & Gray Ian Koplin

Kohlberg Acquires Riveron, HIG Continues Partnership

Riveron, a national business advisory firm focused on the office of the CFO, private equity and other capital providers, entered into a definitive agreement to be acquired by affiliates of Kohlberg & Company. H.I.G. Capital will continue its partnership with Riveron through a minority investment.

June 12, 2023 Ahmed Wahla | Citizens | Greenberg Traurig | Guggenheim Securities | H.I.G. Capital | Jefferies Group | Julie Howard | Keval Patel | Kohlberg & Company | McDermott Will & Emery | Moelis & Company | Riveron | Ropes & Gray Ian Koplin

Blackrock to Acquire Private Debt Manager Kreos Capital

BlackRock and Kreos Capital entered into a definitive agreement under which BlackRock will acquire full control of Kreos, which is a provider of growth and venture debt financing to companies in the technology and healthcare industries.

June 8, 2023 BlackRock | Goodwin Procter London | James Keenan | Kreos Capital | Mårten Vading | Moelis & Company | Raoul Stein | Ross Ahlgren | Skadden Arps Slate Meagher & Flom | Stephan Caron Ian Koplin

Venator Materials Enters Prepackaged Chapter 11 Proceedings

Venator Materials, a global manufacturer and marketer of chemical products, reached an agreement with the overwhelming majority of its lenders and noteholders on the terms of a comprehensive recapitalization plan.

May 16, 2023 Alvarez & Marsal | Epiq Corporate Restructuring | Kirkland & Ellis | Moelis & Company | Simon Turner | Venator Materials Ian Koplin

Sorrento Therapeutics Receives Approval for $75MM DIP Financing from JMB Capital Partners

The U.S. Bankruptcy Court for the Southern District of Texas granted final approval of Sorrento Therapeutics’ $75 million debtor-in-possession financing from JMB Capital Partners in connection with Sorrento’s Chapter 11 bankruptcy filing in February.

March 31, 2023 Henry Ji | Jackson Walker | JMB Capital Partners | Latham & Watkins | M3 Partners | Moelis & Company | Sorrento Therapeutics Markiesha Thompson

Obra Capital Provides DIP Financing to GWG Holdings

Obra Capital, a portfolio company of RedBird Capital Partners and Reverence Capital Partners, completed a super priority secured debtor-in-possession credit and security agreement for GWG Holdings, a financial services firm based in Dallas.

December 21, 2022 Blair Wallace | GWG Holdings | Magna Servicing | Moelis & Company | Obra Capital | Proskauer Rose | Quinn Emanuel Urquhart & Sullivan | RedBird Capital Partners | Reverence Capital Partners Phil Neuffer

TPC Group Commences Chapter 11 to Deleverage and Recapitalize

TPC Group, a provider of products to chemical and petroleum-based companies, voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. 

June 1, 2022 Baker Botts | Eclipse Business Capital | Edward J. Dineen | Evercore | FTI Consulting | Goldberg Kohn | Moelis & Company | Paul Hastings | Simpson Thacher & Bartlett | TPC Group Ian Koplin