PRESS RELEASE
McDermott Represents Gulf Coast Health Care, LLC in Chapter 11 Filings
October 19. 2021
Read time: 3 min
International law firm McDermott Will & Emery is representing Gulf Coast Health Care, LLC (Gulf Coast), an operator of 28 skilled nursing facilities in the Southeastern United States, and certain of its affiliates and subsidiaries in its filing of Chapter 11 bankruptcy proceedings in the District of Delaware following challenges arising from the COVID-19 pandemic.
This representation includes negotiating a comprehensive restructuring support agreement with Gulf Coast’s equity sponsors, certain affiliates that provide services to Gulf Coast, certain affiliates and subsidiaries of Omega Healthcare Investors, Inc. (one of Gulf Coast’s landlords), and New Ark Capital, LLC (Gulf Coast’s senior secured lender). The restructuring transactions contemplated by this agreement will be effectuated through the chapter 11 cases and will result in the transition of Gulf Coast’s facilities to new operators as well as the subsequent wind-down of Gulf Coast’s business, anticipated to be finalized in Q1 2022.
The McDermott team is led by Daniel Simon and David Hurst, and includes Riley Orloff, Emily Keil, Daniel Thomson, Natalie Rowles and Zach Esposito.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Scores Excellent Results in The Legal 500 UK 2022 with Multiple Recognitions for its Client-Focused Approach
AWARDS & RANKINGS / PRESS RELEASE
McDermott Scores Excellent Results in The Legal 500 UK 2022 with Multiple Recognitions for its Client-Focused Approach
October 15, 2021
Read time: 6 min
International law firm McDermott Will & Emery has once again achieved remarkable results in The Legal 500 UK 2022, with 15 rankings in key practice areas and 37 lawyers ranked. The firm has gained seven new practice recognitions, and 10 individual recognitions, which is the highest increase in the past decade.
McDermott preserved strong Tier 2 positions in M&A: Lower Mid-Market Deals; Private Client in both Contentious Trusts and Probate and Personal Tax, Trusts and Probate; and improved in Employment: Employers with a move up to Tier 5. The firm gained several new rankings including: Emerging Markets in Tier 3; Finance: High Yield in Tier 4; Healthcare & Life Sciences in Tier 4; and received special note as a ‘Firm to watch’ in Bank Lending and Gaming & Betting.
Eight lawyers have been ranked in the elite ‘Leading Individuals’ list:
- Nick Azis
- Ranajoy Basu
- Mark Fennessy
- Simon Goldring
- Nick Holland
- Andrew Savage
- Tom Whelan
- Ziva Robertson (Hall of Fame: applies to lawyers listed as ‘Leading Individuals’ for six years or more)
Other highlights include:
Private Client
- Tier 2 ranking in Contentious Trusts and Probate. Described as “one of the best private client teams in London involved in the highest profile cases,” and a “powerful force in trust litigation.” Noted as an “excellent multinational firm with superb US and South African client base, and a team of top-class partners.”
- Tier 2 ranking in Personal Tax, Trusts and Probate. Described as “a one-stop solution for clients,” “readily available – pragmatic – international planning,” and its “global reach in tax and trust structuring is invaluable in family HNW cases.”
- Recommended Lawyers: Simon Gibb, Lynsey McIntyre, Astrid B. Owen, Anita Shah and Andrew Vergunst
Transactions
- Tier 2 ranking in M&A: Lower Mid-Market Deals. Praised for “meticulous attention to detail” and for being “solution-oriented and straightforward.”
- Tier 3 ranking in Private Equity: Transactions Mid-Market Deals. Noted for having “a specialism in the healthcare and technology sectors.” A client states that the team “were thoughtful, timely and efficient” and “understood and anticipated our needs at every step of the transaction.”
- Tier 4 ranking in High Yield (NEW). Described as a “very professional firm,” with “talented individuals that are fully up to speed with very complex and demanding transactions.”
- Also noted in Bank Lending: Investment Grade Debt and Syndicated Debt Loans as a “Firm to watch” (NEW).
- Recommended Lawyers: Arvin Abraham, Alexander Andronikou, Ranajoy Basu, Matthew Chen, Mark Fine, Aymen Mahmoud, Stuart Mathews, Sunay Radia, Priya Taneja, Calum Thom, Eleanor West and Marta Wrobel
Emerging Markets
- Tier 3 ranking in Emerging Markets (NEW). A client comments that the team is “affable and approachable at all levels, and proficient in its legal advice,” adding that “the commercial insight of the team coupled with their negotiation and drafting expertise makes the firm a pleasure to deal with.”
- Recommended Lawyers: Nick Azis, Andrew Savage, Priya Taneja and Hamid Yunis
Healthcare
- Tier 4 ranking in Healthcare & Life Sciences (NEW), the team is lauded for being “phenomenally determined, knowledgeable, creative, thorough, relentlessly energetic.” A client notes that the team’s “approach and knowledge sets them apart from their competitors.”
- Recommended Lawyers: Sharon Lamb and Hamid Yunis
- Rising Star: David Gibson
Litigation
- Tier 4 ranking in Dispute Resolution:Commercial Litigation Mid-Market. Described as “exceptionally strong” and a “growing force that is continuing to go from strength to strength.”
- Also noted in Gaming & Betting as a “Firm to Watch” (NEW).
- Rising Star: Kimberley Smith
- Recommended Lawyers: Joshua Domb, Romilly Holland, Ben Lamble and Edward Perkins
Employment
- Tier 5 ranking in Employment:Employers (UP). Praised as “diligent, professional, available and thorough,” the team is also noted for “practical advice” that takes “the pain out of any difficult negotiation.”
- Recommended Lawyers: Katie Clark and Paul McGrath
Tax
- Tier 5 ranking in Corporate Tax. Described as “experts for international tax and particularly responsive and on point,” with an “exceptional level of client care.” A client states that “even complex questions in the context of transfer pricing or VAT are in the best hands with them.”
- Recommended Lawyers: Sarah Gabbai and James Ross
View the full Firm rankings, lawyer recommendations, client feedback and editorial commentary.
About The Legal 500
The Legal 500 organizes the rankings into a single national ranking. The Legal 500 is a guide with emphasis on teams, not individuals, with the notable exception of leading lawyers listing, Legal 500 does not rank individual lawyers. Legal 500 highlights certain key individuals within the editorial paragraphs, but the principal aim is to provide a snapshot of the market based on assessment of the overall strength and depth of a practice group. The website www.legal500.com has 4 million unique individual users each year, including 2.5 million corporate counsel. View the full Legal 500 UK 2022 rankings.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Represents RAYUS, Inc. in its Acquisition of Diagnostic Centers of America
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents RAYUS, Inc. in its Acquisition of Diagnostic Centers of America
October 15, 2021
Read time: 4 min
International law firm McDermott Will & Emery represented Wellspring Capital Management LLC portfolio company RAYUS, Inc. (formerly known as Center for Diagnostic Imaging, Inc.) in connection with its acquisition of Diagnostic Centers of America (DCA), a leading radiology provider with eight centers in South Florida.
- This transaction was announced on October 13, 2021.
- McDermott Will & Emery acted as legal counsel to Wellspring Capital Management.
- With the transaction, RAYUS also gains a partnership with Boca Radiology Group, whose subspecialized radiologists provide services to DCA and conduct more than 550,000 procedures annually.
- McDermott’s representation also included the structuring, negotiation, and documentation of an amendment to its senior secured credit facility to add an additional term loan, with Cerberus Business Finance Agency, LLC as the administrative agent.
- This transaction marks RAYUS’ eighth add-on acquisition under Wellspring’s ownership and its largest acquisition to date.
- A PE Hub source estimates this transactions adds around $30 million in EBITDA, moving RAYUS to an estimated $140 million in EBITDA.
- The McDermott corporate team was led by Wellspring relationship partner Frank Steinherr and Scott Regan and included Daniel Zucker, Jennifer Mikulina, Ray Jacobsen, Todd Solomon, Jed Spielman, Sarah Kitchell, Monica Wallace, Michelle Strowhiro, Nick Alarif, Vanessa Barmack, Jamie Gelfman, Daphne Trotter, Eleanor Atkins, Avery Cummings, Deepali Doddi, Becky Dufur, Noah Feldman Greene, Emily Jewell, Abigail Kagan, Moyosore Koya, Marissa Krumm, Graciany Miranda, Eric Preston, Steven Schnelle, Rick Stepanovic, Myia Williams and Griffin Doty. The McDermott finance team was led by Anh Lee and Nicci Briody and included Libby Jacobson and Atoosa Nowrouzi.
- McDermott has previously represented Wellspring in several transactions including most recently the acquisition of Pentec Health; acquisition of HealthPRO Heritage; acquisition of Cadence Petroleum Group; sale of its portfolio company Help At Home LLC to Centerbridge Partners; acquisitions by its portfolio company Center For Diagnostic Imaging (dba RAYUS, Inc.) of Sand Lake Imaging, U.S. MRI, and Smart Choice MRI, respectively; acquisition of Paragon Films; acquisition of Lucky Strike Entertainment LLC; and acquisition of Center For Diagnostic Imaging (dba RAYUS, Inc.).
McDermott’s private equity practice is among the top four most active PE law firms globally and in the US with more than 160 dedicated private equity lawyers in 21 locations globally. In addition to being Pitchbook’s top Healthcare PE firm for a fourth consecutive year and fifth in both IT and financial services private equity, we are named Energy & Industrials Law Firm of the Year (Large Cap) by The Deal, Top 10 in PE Buyouts by MergerMarket and Top 10 in US Mid-Market by Bloomberg. Learn more about our PE practice by visiting mwe.com/pe.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Advises Fleetpool Shareholders on Sale of the Company to ALD
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises Fleetpool Shareholders on Sale of the Company to ALD
October 15, 2021
Read time: 3 min
Cologne/Düsseldorf, October 15, 2021 – McDermott Will & Emery has advised the shareholders of Fleetpool, the German market leader for car subscription services, on the sale of the company to mobility provider ALD Automotive.
ALD is acquiring Fleetpool entirety, including its fleet of more than 10,000 vehicles. The acquisition is subject to clearance by the relevant antitrust authorities.
Cologne-based Fleetpool Group is the market leader in the field of fully digital car subscription services and a provider of future-oriented mobility solutions. Since its founding in 2008, Fleetpool has established itself as a successful partner of renowned companies and automobile manufacturers. The company has built up and successfully established numerous of its own brands, including eazycars, like2drive and CONQAR.
ALD is a leading global provider of mobility solutions and offers full-service leasing and fleet management services in 43 countries to large corporations, small and medium-sized enterprises and private individuals. With 6,700 employees around the globe, ALD manages 1.76 million vehicles.
The McDermott team advising the shareholders of Fleetpool was led by Jan Hückel (Corporate) in Düsseldorf and included Marcus Fischer (Tax, Frankfurt), Oliver Hahnelt and Nikolas Koutsós. Alexander Hoppe (Corporate) also advised.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prow-ess to bear in every matter for our clients and the people they serve.
Media Contact
Schulte Advises 26 Capital in Merger with Tiger Resort Leisure and Entertainment Inc./Okada Manila
PRESS RELEASE
Schulte Advises 26 Capital in Merger with Tiger Resort Leisure and Entertainment Inc./Okada Manila
October 2021
Read time: 3 min
Schulte is advising 26 Capital Acquisition Corp. in its merger agreement with Tiger Resort Leisure and Entertainment Inc., operating as Okada Manila, and certain of its affiliates. Okada Manila is one of the premier casino and integrated resorts in Asia. It is currently the largest integrated resort in the Philippines and among the largest in the world. 26 Capital’s expertise in gaming, gaming technology, lodging, entertainment and internet commerce is expected to add value, growth and opportunities for Okada Manila. As a result of the transaction, Okada Manila will become a publicly traded company listed on Nasdaq and have an enterprise value of $2.6 billion and an equity value of $2.5 billion. The transaction is expected to close in the first half of 2022.
The Schulte team advising 26 Capital was led by M&A and securities partner Jeffrey Symons. The team also included business reorganization partner Douglas Mintz; M&A and securities special counsel Gregory Kinzelman, associate Jamie Freedman and law clerks Mario Kranjac and Abby Castaldi; tax associates Joseph Reich and Hannah Hollingsworth; law clerk Edward Nasti; and former Schulte lawyer Jennifer Gordon and Edward Sadtler.
Media Contact
McDermott Advises Kepler Cheuvreux on the Acquisition of Ellipsis Asset Management
PRESS RELEASE
McDermott Advises Kepler Cheuvreux on the Acquisition of Ellipsis Asset Management
October 14, 2021
Read time: 3 min
McDermott Will & Emery is advising Kepler Cheuvreux on the acquisition of asset management company Ellipsis Asset Management.
As part of the development of its asset management activities, the Kepler Cheuvreux group is acquiring Ellipsis Asset Management (Ellipsis AM), a management company with 18 years of experience in convertible funds and specializing in value-added niche management, from Exane SA, a subsidiary of the BNP Paribas group.
The transaction remains subject to the approval of the Autorité des Marchés Financiers.
Ellipsis AM is a recognized for European and global convertible bonds.
The Kepler Cheuvreux Group, which is already present in the asset management space through its subsidiary Kepler Cheuvreux Invest, which specializes in non-listed assets, wishes to expand its offering by proposing a range of funds on listed assets. The acquisition of Ellipsis AM is part of this strategy, with the ambition of making this company the cornerstone of the Kepler Cheuvreux Group’s development in the field of listed asset management.
The McDermott team that advises Kepler Chevreux is composed of Fabrice Piollet (partner), Marie-Muriel Barthelet and Mirela Popstoeva (associates)
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Advises Jefferies and Hauck & Aufhäuser as Joint Global Coordinators in Connection with Rights Offering and Uplisting to Regulated Market of Mutares
PRESS RELEASE
McDermott Advises Jefferies and Hauck & Aufhäuser as Joint Global Coordinators in Connection with Rights Offering and Uplisting to Regulated Market of Mutares
October 14, 2021
Read time: 3 min
Frankfurt – Oktober 14, 2021 – McDermott Will & Emery advised Joint Global Coordinators Jefferies and Hauck & Aufhäuser on a rights issue of Mutares SE & Co. KGaA from authorised capital against cash contribution.
A total of 5,140,439 new registered no-par value shares of the Company were issued at a price of €19.50 per share in partial utilisation of the Company’s authorised capital, raising total gross issue amount of approximately €100 million. Mutares intends to use the proceeds to accelerate growth through acquisitions of new portfolio companies, add-on acquisitions to strengthen existing portfolio companies and investments in existing portfolio companies.
Furthermore, in the course of the capital measure, the Company has also applied for an uplisting of the shares, which were previously listed in the Scale segment, for trading on the Regulated Market of the Frankfurt Stock Exchange with further post-admission obligations (Prime Standard). Admission of the existing shares and the new shares issued as part of the capital increase is expected on October 19, 2021. The listing of the Company’s shares on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) is expected to take place on October 20, 2021.
The McDermott team was led by partners Simon Weiß (Capital Markets) and Joseph Marx (US Capital Markets) in Frankfurt, and included associates Isabelle Müller (Corporate) and Christoph Schäfer (Capital Markets).
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prow-ess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Represents Wellspring Capital Management in its Acquisition of Pentec Health
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Wellspring Capital Management in its Acquisition of Pentec Health
October 13, 2021
Read time: 4 min
International law firm McDermott Will & Emery represented Wellspring Capital Management LLC, a New York-based private equity firm, in connection with its acquisition of Pentec Health Inc., an industry leader in providing patient-specific, compounded sterile medications.
- This transaction was announced on October 11, 2021.
- McDermott Will & Emery acted as legal counsel to Wellspring Capital Management.
- The firm’s representation also included acquisition financing in a revolving loan commitment with Twin Brook Capital Partners, LLC as Agent, Sole Lead Arranger and Sole Bookrunner.
- The McDermott corporate team was led by Wellspring relationship partner Frank Steinherr and James Parry and included Nate Wolfe, Ana Koff and Jordan Wampler. The McDermott health team was led by Karen Gibbs, and Sandy DiVarco. McDermott team also included Daniel Zucker, Jed Gordon, Michelle Strowhiro, Scott Regan, Vanessa Barmack, Sarah Engle, Dawn Helak, Greg Heltzer, Kate McDonald, Carolyn Metnick, David Saunders, Daphne Trotter, Judith Wethall, Evelyn Atwater, Stacey Callaghan, Avery Cummings, Matt Evola, Dexter Golinghorst, Jayda Greco, Jennifer Hill, Graham Hyman, Elaine Kao, Marika Miller, Emily Palmer, Leigh Ratino and Stephania Sanon. The McDermott finance team was led by Anh Lee and Jared Bryant and included Andrea Ruiz, Darren Yang and Robin Riley.
- McDermott has previously represented Wellspring in several transactions including most recently the acquisition of HealthPRO Heritage; acquisition of Cadence Petroleum Group; sale of its portfolio company Help At Home LLC to Centerbridge Partners; acquisitions by its portfolio company Center For Diagnostic Imaging (dba RAYus, Inc.) of Sand Lake Imaging, U.S. MRI, and Smart Choice MRI, respectively; acquisition of Paragon Films; acquisition of Lucky Strike Entertainment LLC; and acquisition of Center For Diagnostic Imaging (dba RAYus, Inc.).
McDermott’s private equity practice is among the top four most active PE law firms globally and in the US with more than 160 dedicated private equity lawyers in 21 locations globally. In addition to being Pitchbook’s top Healthcare PE firm for a fourth consecutive year and fifth in both IT and financial services private equity, we are named Energy & Industrials Law Firm of the Year (Large Cap) by The Deal, Top 10 in PE Buyouts by MergerMarket and Top 10 in US Mid-Market by Bloomberg. Learn more about our PE practice by visiting mwe.com/pe.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Adds Energy M&A All-Star in Houston
PRESS RELEASE
McDermott Adds Energy M&A All-Star in Houston
October 13, 2021
Read time: 4 min
International law firm McDermott Will & Emery is pleased to announce the addition of Denmon Sigler as a Houston-based partner in its Transactions Practice Group. Denmon is a recognized leader in the conventional energy space and draws on more than two decades of highly skilled transactional work and leadership to support McDermott as a first-choice energy practice in Texas.
“The current market shows our conventional and renewable energy clients in Texas are engaged in a high level of transactional activity with high-impact business decisions,” Harris Siskind, global head of the transactions practice, said. “Denmon is a proven and trusted advisor to some of the largest energy companies in the United States and we are thrilled she’s chosen McDermott.”
Denmon focuses her practice on energy transactions involving the purchase and sale of companies, business units and assets and the formation and governance of joint ventures, as well as operating and maintenance, product feedstock, terminal storage, drilling and offtake arrangements. She represents refining, chemical and petrochemical clients in complex transactions and project development, oil and gas clients in matters involving the ownership, development and operation of conventional energy resources and companies across industries in acquiring renewable resources and navigating the energy transition.
“I am very excited to join a firm committed to growing its robust energy portfolio, especially in the Houston market,” Denmon said. “McDermott has strong credibility in Texas and across global energy circles with distinct experience in the renewable sphere, and my clients and I are confident this is a fantastic platform to support their business transactions.”
Denmon joins from Baker McKenzie, where she held several leadership positions, including chair of the North American Energy Transaction and Houston office Corporate & Securities practice groups, co-chair of the North American Anti-Racism Task Force and chair of the Houston chapter of BakerWomen (a program designed to create cross-firm mentoring and female peer networking). Denmon was named to the “Top Women in Energy” in 2020 by Texas Legal Awards. She received her BA from Rice University and JD from South Texas School of Law.
Denmon is the most recent of several energy industry heavy hitters, joining the Firm shortly after Jack Langlois, Jibin Luke, Kevin Brophy and Andy Lehman in Houston, Marcus Helt in Dallas, Ignatius Hwang and Merrick White in Singapore and Parker Lee, Jim Salerno, Robert da Silva Ashley and Emeka Chinwuba in New York.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
Carlyn McCaffrey Honored with Lifetime Achievement Award by the New York Law Journal
AWARDS & RANKINGS / PRESS RELEASE
Carlyn McCaffrey Honored with Lifetime Achievement Award by the New York Law Journal
October 12, 2021
Read time: 3 min
International law firm McDermott Will & Emery is pleased to announce that Carlyn S. McCaffrey, co-chair of the Private Client practice in New York, has been recognized with the Lifetime Achievement Award by the New York Law Journal.
Carlyn is a trailblazer, role model for women lawyers and a major contributor to trusts and estates law who has achieved excellence in the practice. She provides legal counsel on domestic and international tax and estate planning for high net worth individuals, as well as advises individuals and institutions on charitable planning matters. Carlyn is a frequent lecturer on subjects relating to tax law, trusts and estates, foreign trusts and matrimonial law, and is also an extensively published author on these topics.
You can read more about Carlyn’s recognition in her New York Law Journal Lifetime Achievement editorial piece.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
