GBG USA commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York. WH AQ Holdings and Hilco Brands will serve as the stalking horse bidders in a court-supervised sale process of the company and ReStore Capital is providing $16MM in DIP financing.
Platinum Equity signed a definitive agreement to acquire Solenis from Clayton, Dubilier & Rice and BASF in a transaction that implies an enterprise value for Solenis of $5.25 billion. BofA Securities and Goldman Sachs are leading the debt financing for the acquisition.
VSS Capital Partners completed a growth investment in Centroid Systems, a provider of managed cloud services and enterprise workload consulting services. CIBC Innovation Banking provided senior debt financing to facilitate the transaction.
JPMorgan Chase and Blackstone Credit provided recapitalization through a combination of financing facilities for Atlas Technical Consultants, a provider of professional testing, inspection, engineering, environmental and consulting services.
Bank of America and Wells Fargo provided Northwest Hardwoods with an asset-based loan during the company’s financial restructuring process and emergence from Chapter 11.
Sycamore Partners, KKR, Blackstone Credit and other first lien term lenders delivered $225 million in new capital for Belk in the company’s restructuring support agreement.
Huron Consulting Group is serving as financial advisor for Northwest Hardwoods, which filed for relief under Chapter 11 of the Bankruptcy Code. Bank of America and Wells Fargo will refinance an existing ABL facility as part of the company’s financial restructuring.
FTI Consulting will serve as financial advisor to Pace Industries, which reached an agreement with its lenders on the terms of a financial restructuring plan and initiated a voluntary prepackaged Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware.
Willkie Farr & Gallagher announced Leonard Klingbaum joined the firm as a partner in the Corporate and Financial Services Department in the New York office, where he will be a member of the Banking Debt Finance practice.
Rural/Metro announced the U.S. Bankruptcy Court for the District of Delaware confirmed its reorganization plan. Alvarez & Marsal and FTI Consulting are serving as financial advisors.