Skadden Arps Slate Meagher & Flom Archives

Armstrong Flooring Files for Chapter 11 Bankruptcy

Armstrong Flooring, a designer and manufacturer of flooring solutions, filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

May 9, 2022 Armstrong Flooring | Houlihan Lokey Capital | Michel Vermette | Riveron RTS | Skadden Arps Slate Meagher & Flom Ian Koplin

Franklin BSP Lending and Franklin BSP Capital Acquire Encina Equipment Finance

Franklin BSP Lending and Franklin BSP Capital, business development companies advised by affiliates of Benefit Street Partners, acquired substantially all of the equity interests of Encina Equipment Finance.

Callodine Group Enters Agreement to Acquire Thorofare Capital

Callodine Group, an asset management firm focused on yield-oriented investment strategies, entered into a definitive agreement to acquire a majority stake in Thorofare Capital, a real estate investment firm managing more than $1 billion in assets under management.

OceanFirst Financial and Partners Bancorp to Merge

OceanFirst Financial and Partners Bancorp entered into a definitive agreement and plan of merger pursuant to which Partners will merge into OceanFirst, with OceanFirst surviving.

Encina Business Credit Announces Recapitalization, Changes Name to Eclipse Business Capital

Encina Business Credit announced a recapitalization and an expanded capital base provided by affiliated funds of Barings along with participation from Encina management. In conjunction with the recapitalization, Encina changed its name to Eclipse Business Capital.

Jefferies and SMBC Partner to Collaborate on Corporate/Investment Banking Opportunities

Jefferies Financial Group and Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking and SMBC Nikko Securities (collectively, SMBC Group) entered into an alliance to collaborate on future corporate and investment banking business opportunities.

Wells Fargo Sells Asset Management Business to GTCR and Reverence Capital Partners for $2.1B

Wells Fargo entered into a definitive agreement to sell Wells Fargo Asset Management to GTCR and Reverence Capital Partners for $2.1 billion. The sale includes Wells Fargo’s business of acting as trustee to its collective investment trusts and all related Wells Fargo Asset Management legal entities.

Morgan Stanley Leads Debt Financing to Support E.W. Scripps’ Buy of ION Media

Morgan Stanley Senior Funding led debt financing to support the close of E.W. Scripps Company’s acquisition of ION Media Networks. In addition, BofA Securities, Truist Securities, J.P. Morgan and Wells Fargo acted as joint book runners on the debt financing.

Owl Rock Capital Group and Dyal Capital Partners Execute Business Combination Agreement

Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group entered into a definitive business combination agreement with Altimar Acquisition Corporation to form Blue Owl Capital, an alternative asset management firm with more than $45 billion in assets under management.

JPMorgan Chase Agents $675MM Revolver as Part of Noble Corporation’s Restructuring

Noble Corporation entered into a restructuring support agreement with two ad hoc groups of the largest holders of the company’s outstanding bond debt. In addition, JPMorgan Chase will serve as administrative agent on a $675 million secured revolving credit facility for Noble Corporation.

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