PNC delivered a $135 million asset-based loan to Covia in the company’s recent Chapter 11 emergence. As of emergence, Golden Gate Capital invested in Covia and is now the largest individual shareholder.
Centric Brands emerged from voluntary Chapter 11 proceedings. Sound Point Capital Management provided exit financing to the company, while Ropes & Gray, PJT Partners and Alvarez & Marsal served as legal, financial and restructuring advisors, respectively.
Ropes & Gray appointed Matthew Czyzyk as a partner in its business restructuring group. Czyzyk has experience acting for debtors, banks and alternative capital providers.
Centric Brands entered into a restructuring support agreement, led by certain funds managed by Blackstone, Ares Management, and HPS Investment Partners, to recapitalize the company and provide $435 million in debtor-in-possession financing.
iCapital Network and Artivest entered into a definitive agreement under which iCapital will acquire the Artivest platform and operating businesses. PJT Partners served as financial advisor to iCapital Network and RBC Capital Markets served as financial advisor to Artivest.
Global law firm Ropes & Gray named Matthew Jacobson, an accomplished attorney with experience handling a full spectrum of buy- and sell-side M&A transactions, a partner in the firm’s mergers and acquisitions practice.
Global law firm Ropes & Gray hired Ama Adams as a partner in the firm’s Washington, D.C. office in its business and securities litigation practice.
Ropes & Gray hired Joanne De Silva as a partner in its finance practice in New York, focusing her practice on direct lending transactions, debt investments and debt restructurings across the capital structure.