PRESS RELEASE
McDermott Advises Naxicap Partners on its Acquisition of a Majority Stake in Lagarrigue
July 21, 2021
Read time: 3 min
McDermott advised market leading European private equity firm Naxicap Partners on its acquisition from Ardian of a majority stake in the Lagarrigue Group, a global specialist in external orthopedic devices, and in the design and manufacture of large-scale orthopedic devices for the treatment of disabilities.
The management team reinvested alongside Naxicap Partners.
The McDermott team that advised Naxicap Partners comprised:
- Henri Pieyre de Mandiargues, partner, Stanislas Offroy, Boris Wolkoff and Antonia Teleman, associates, on corporate aspects
- Pierre-Arnoux Mayoly, partner, Shirin Deyhim, Nathalia Tekely and Clarisse de Roux, associates, on financing aspects
- Antoine Vergnat, partner, Côme de Saint-Vincent and Fanny Le Pogam, associates, on tax aspects
Ardian was represented by Weil Gotshal & Manges.
The management team was represented by Agilys Avocats
Advice on unitranche debt was provided by Winston & Strawn LLP.
Advice on PIK debt was provided by Allen & Overy.
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.
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McDermott Relocates New York Office Reflecting Significant Talent and Revenue Growth
PRESS RELEASE
McDermott Relocates New York Office Reflecting Significant Talent and Revenue Growth
July 20, 2021
Read time: 4 min
International law firm McDermott Will & Emery has relocated its New York office to One Vanderbilt, the City’s newest iconic skyscraper in East Midtown.
One Vanderbilt is the premier business destination in New York City and offers tremendous benefits for clients, lawyers and staff. The McDermott office spans five floors across 146,000 square feet with light-filled space and City views throughout. A conference center is located on the 67th floor, and offices are located on floors 44, 45, 46, 47 and 67.
“This move is an action to prioritize our clients’ success and increase our visibility and competitiveness in the New York market,” Todd Finger, co-partner-in-charge of the Firm’s New York office, said. “This space emphasizes who we are—and who we aspire to be—for our clients and our colleagues alike. It is sophisticated, modern, efficient and collaborative. We are thrilled to call One Vanderbilt our new home.”
East Midtown is a diverse and lively neighborhood known for its outstanding restaurants, museums, retail shops and recreation options. The area is a hub for global business activity and the headquarters of some of the largest organizations in the world. Conveniently located, One Vanderbilt is bound by 42nd Street, Vanderbilt Plaza, 43rd Street and Madison Avenue. It is steps away from major transportation systems, including the Main Concourse of Grand Central Terminal.
“In addition to our outstanding growth in revenue and talent acquisition, our priorities include fostering a strong New York office culture, emphasizing employee happiness and enhancing diversity and inclusion efforts,” Jeffrey Steiner, co-partner-in-charge of the Firm’s New York office, said.
John Yoshimura, McDermott’s Chief Operating Officer, added, “McDermott continues to make investments in its people and clients. We have significantly grown our footprint and diversified our client offerings in New York, and we’re confident that the move to One Vanderbilt will help us build an even more formidable presence in the city.”
The building architecture and office layout provide enhanced experience and collaboration among lawyers, staff and clients. The architecture is thoughtfully balanced to embrace the modern art collection and unobstructed City views throughout, including the Empire State Building and Chrysler Building skyscrapers.
Additional amenities within the McDermott space include a game room, Peloton exercise center and shower facilities.
The New York office relocation follows similar moves in Boston, Wilmington, Frankfurt and Los Angeles.
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.
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McDermott Advises IK Investment Partners on its Acquisition of the Blanchon Group
PRESS RELEASE
McDermott Advises IK Investment Partners on its Acquisition of the Blanchon Group
July 20, 2021
Read time: 3 min
McDermott advised IK Investment Partners on its investment in the Blanchon Group, alongside Abenex Capital. The transaction remains subject to regulatory approval.
The Blanchon group focuses on the construction and housing sectors, and in particular on the parquet flooring, industrial, wood and materials and paint wholesale markets, as well as DIY stores.
The McDermott team that advised IK Investment Partners comprised:
- Diana Hund, partner, and Maxime Fradet, associate, on corporate aspects
- Antoine Vergnat, partner, and Côme de Saint Vincent, associate, on tax aspects,
- Matthieu Adam, counsel, and Caroline Ruiz Palmer, associate, on competition law aspects.
The sellers and the management team were advised by Lamartine Conseil.
Abénex was advised on its reinvestment by VGG.
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.
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McDermott Advises HLD on Exclusive Negotiations to Acquire a Majority Stake in Jimmy Fairly
PRESS RELEASE
McDermott Advises HLD on Exclusive Negotiations to Acquire a Majority Stake in Jimmy Fairly
July 20, 2021
Read time: 3 min
McDermott has advised HLD, an investment firm specializing in the growth and development of European companies, on its entry into exclusive negotiations with the founders of eyewear brand Jimmy Fairly and investment fund Experienced Capital (ECP), to acquire a majority stake in the French eyewear brand, which offers quality eyewear at a fair price, while having a positive sustainable and social impact.
The McDermott team advising HLD comprised:
- Diana Hund and Fabrice Piollet, partners, and Boris Wolkoff, associate, on corporate aspects
- Pierre-Arnoux Mayoly, partner, and Nathalia Tekely, associate, on financing aspects
Law firm Arsene worked alongside HLD on tax aspects.
Weil, Gotshal & Manges advised ECP and the founders.
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.
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McDermott Represents the Official Committee of Unsecured Creditors of Griddy Energy, LLC in Chapter 11 Filing
PRESS RELEASE
McDermott Represents the Official Committee of Unsecured Creditors of Griddy Energy, LLC in Chapter 11 Filing
July 19, 2021
Read time: 4 min
International law firm McDermott Will & Emery represented the Official Committee of Unsecured Creditors (the Committee) of Griddy Energy, LLC (Griddy), a Texas-based retail energy provider whose business was devastated by the impacts of Winter Storm Uri.
The Public Utility Commission of Texas (PUCT) ordered electricity prices to be set to $9,000 per megawatt hour during the storm (87.5 hours), but Griddy was still earning its standard rate provided to customers at $9.99 per month. In addition, the Electric Reliability Council of Texas demanded Griddy meet collateral demands of over $25 million, thus resulting in the filing for chapter 11 relief.
In advocating for the Committee, McDermott faced multiple obstacles, including: substantially all of Griddy’s assets being encumbered, which would leave no recovery for unsecured creditors; balancing the interests of the tens of thousands of customers that owed money to the Debtors as a result of Winter Storm Uri (and by no fault of their own) against the interests of general unsecured creditors; and strategically negotiating with various government entities and representatives, including the Texas Attorney General, to guide the case to a successful plan confirmation. Ultimately, Griddy’s chapter 11 plan received overwhelming support and, on July 7, 2021, the Bankruptcy Court confirmed the plan.
A Plan Administrator has been appointed to investigate and pursue certain causes of action and wind up Griddy’s affairs. McDermott has been selected as lead counsel to the Plan Administrator.
The McDermott team was led by Chuck Gibbs and Darren Azman, and included Robert Lamkin, Monica Asher, Mark Mihanovic, Evan Belosa, Sarah Bro, Jane Byrne, Blaine Adams, Natalie Rowles, Darren Yang, and Cathy Greer.
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.
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German Offices Sign Diversity Charter
PRESS RELEASE
German Offices Sign Diversity Charter
July 20, 2021
Read time: 3 min
As part of our commitment to a diverse and prejudice-free working environment—and coinciding with this week’s 2021 Global Diversity Summit—our German offices have joined together to sign the The Charta der Vielfalt (Diversity Charter).
The Charter is an initiative for employers to promote diversity in German companies and institutions. To date, more than 3,900 companies and organizations with a combined 14 million employees have signed the Charter.
“We want to create a working environment in which diversity is not just a buzzword, but really lived,” said Düsseldorf Office Managing Partner Jens Ortmanns (COR-DUS). “Anyone who works for McDermott should be able to operate in an unprejudiced, appreciative atmosphere. We value commitment, excellence and respect in our offices, regardless of age, ethnic origin and nationality, gender and gender identity, religion and worldview, sexual orientation and social origin,” he continued. “Signing the charter is an important building block in our ongoing efforts to champion diversity and create a sustainable work environment.”
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.
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McDermott Advises Eurazeo on the Sale of its Stake in Intech Medical to Montagu
PRESS RELEASE
McDermott Advises Eurazeo on the Sale of its Stake in Intech Medical to Montagu
July 19, 2021
Read time: 3 min
McDermott advised Eurazeo on an exclusivity agreement with Montagu Private Equity to sell its majority stake in Intech Medical. The proposed sale is subject to US competition authority approval.
Intech Medical, a French based company, is a a global market leader in the manufacturing and development of orthopedic surgical instruments.
Eurazeo first invested in Intech Medical in 2017.
The McDermott team advising Eurazeo comprised:
- Guillaume Kellner, partner, Antoine Ricol, counsel, Stanislas Offroy, Sacha Frantz, Antonia Teleman, Mélanie Chailloleau, associates, on corporate aspects
- Charlotte Michellet, counsel, and Marion Schwartz, associate, on regulatory aspects
- Jilali Maazouz, partner, Marie-Elisabeth George and Nicolas Chaubet, associates, in employment law
Law firm Arsene worked alongside Eurazeo on tax aspects. Their team was led by partner Frédéric Teper.
Montagu Private Equity was represented by Weil Gotshal & Manges and PwC.
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.
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Cross-Practice Duo Combine Forces and Join McDermott to Deliver Enhanced Collaborative Client Service Approach
PRESS RELEASE
Cross-Practice Duo Combine Forces and Join McDermott to Deliver Enhanced Collaborative Client Service Approach
July 14, 2021
Read time: 5 min
International law firm McDermott Will & Emery announces the addition of Emeka Charles Chinwuba to its Transactions Practice Group and Nexus Sea to its Litigation Practice Group based in New York. Emeka and Nexus provide strategic counsel in the areas of project finance and complex litigation to some of the most esteemed enterprises around the world, including Fortune 500 multinationals and institutions with Africa-based operations.
“In the spirit of continued innovation and truly comprehensive client service, we’re thrilled to add Emeka and Nexus to our Transactions and Litigation teams,” Michael Poulos, McDermott’s Head of Strategy, said. “As we emerge from the pandemic, clients face increased legal hurdles spanning different areas of law. Having collaborated together for years, Emeka and Nexus are a tried and true team, providing streamlined legal counsel addressing cross-practice client needs.”
Nexus and Emeka are founding members of “1844,” an association of African-American lawyers, founded in 2014 as a vehicle to address the challenges of industry representation and to promote collaboration, business development and mentorship. The name ‘1844’ highlights the year the first African-American, Macon Bolling Allen, was admitted to practice law in America. The work of 1844 positively impacts hundreds of diverse law firm summer associates through its annual Summer Associate Panel Discussion, and it similarly benefits middle and high school students through its collaboration with Legal Outreach.
“In addition to superior technical knowledge in their respective practices, Emeka and Nexus are pioneers in the fight to knock down unfair barriers for people of color in the legal industry,” Tony Upshaw, Miami-based Litigation partner and Global Chair of the Firm’s Diversity & Inclusion Committee, said. “The core principles of 1844 align with our commitment to enhance diverse talent in law and leadership, which will be accelerated by these outstanding lawyers,” Tony added. “We’re thrilled they’ve chosen McDermott to continue this important work.”
“We are incredibly excited to join the McDermott team. 1844 was created for moments like this—two members joining forces to deliver best-in-class legal services to shared clients. McDermott’s recognition of this added value is a testament to the Firm’s leadership and strategic vision,” Nexus said.
Nexus and Emeka were both previously elected as President of the Nigerian Lawyers Association at separate points in their careers.
Emeka Chinwuba
Emeka recently received a Congressional Recognition as one of “30 Black Stars” at the Face2Face Africa Conference and Awards. He is a debt lawyer focusing on project finance transactions in the power and infrastructure space, including conventional and renewable energy, acquisition financing transactions and US public-private partnerships. His work has covered complex financing projects in the US, South America, Middle East and Sub-Saharan Africa.
Emeka worked for an extended period in the United Arab Emirates, where he advised on the development and financing of renewable energy projects in the MENA region. He also covers general bank finance transactions, mezzanine and investment grade financings and asset-based lending transactions.
Nexus Sea
Nexus is regularly recognized as a Super Lawyers “New York Metro Rising Star.” He is a seasoned litigator and rising star trial lawyer representing high-profile companies in complex commercial litigation, product liability and financial services matters in both state and federal courts. His clients include Fortune 500 companies, financial institutions and pharmaceutical companies. His practice focus also includes the emerging area of Artificial Intelligence and its impact on existing product liability regimes.
Nexus represented one of Africa’s most prominent business leaders in successfully defeating a trade secret suit seeking damages of at least $1 billion. In addition, he has successfully conducted internal investigations on behalf of financial institutions, including investigating allegations of cross trading on behalf of a New York fund of funds and allegations of officer embezzlement on behalf of a startup cosmetic company.
McDermott continues to expand its ranks, notably adding strength in the Transactions and Litigation Groups. In total, nine litigation partners have joined since 2021; most recently, six transactions partners joined in cities across the US.
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.
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McDermott Represents the Official Committee of Unsecured Creditors in Chapter 11 Cases of Energy Alloy Holdings
PRESS RELEASE
McDermott Represents the Official Committee of Unsecured Creditors in Chapter 11 Cases of Energy Alloy Holdings
July 12, 2021
Read time: 3 min
International law firm McDermott Will & Emery represented the Official Committee of Unsecured Creditors (the Committee) in the chapter 11 cases of Energy Alloys Holdings, LLC, et al. (the Debtors), which was a privately-owned distributor and reseller of products sold into the oil and gas industry. The Debtors filed chapter 11 in September 2020 after declining business due to decreased demand for their products and the Russia-Saudi Arabia oil price war.
At the outset of the bankruptcy case, general unsecured creditors (owed approximately $38 million) were not expected to receive a recovery, due in large part to the Debtors’ assets being secured by an approximately: (i) $7 million First Lien Credit Facility; (ii) $77 million Second Lien Credit Facility; and (iii) $13 million loan on certain real property. The McDermott team successfully negotiated a carve out for unsecured creditors from the first and second lien lenders. The carve out was included in a global settlement that set the chapter 11 cases on a fast track towards confirmation.
On June 28, 2021, the United States Bankruptcy Court for the District of Delaware entered an order confirming the Debtors’ chapter 11 plan. A liquidation trust will be formed shortly to pursue certain causes of action and wind up the company’s affairs.
The McDermott team was led by Darren Azman and David Hurst and included Gregg Steinman, Darren Yang and Cathy Greer.
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.
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McDermott advises Quilvest Capital Partners and Crédit Mutuel Equity on their acquisition of a stake in the Minafin group
PRESS RELEASE
McDermott advises Quilvest Capital Partners and Crédit Mutuel Equity on their acquisition of a stake in the Minafin group
July 9, 2021
Read time: 3 min
PARIS (9 juillet 2021) – McDermott et De Pardieu Broca Maffei ont conseillé Quilvest Capital Partners et Crédit Mutuel Equity dans le cadre de leur prise de participation minoritaire dans le groupe Minafin. Ce nouveau de tour table permet la sortie d’Andera Partners, alors que Siparex ETI et IRD Entrepreneurs réinvestissent dans la transaction aux cotés de l’équipe de management. Crédit Mutuel Equity poursuit ainsi son association avec le groupe et le fondateur consolide lui sa position majoritaire.
Minafin est l’un des leaders européens de la chimie fine, notamment pour la fabrication d’intermédiaires et de principes actifs pharmaceutiques, ainsi que de la chimie verte.
Le groupe a porté son chiffre d’affaires de 162 M€ en 2016 à 243M€ en 2020, avec une croissance annuelle organique à deux chiffres.
Avec cette prise de participation, Quilvest Capital Partners et Crédit Mutuel Equity souhaitent contribuer à accélérer le développement de Minafin, aussi bien par croissance organique que par croissance externe.
Les équipes de McDermott et De Pardieu Broca Maffei qui ont conseillé Quilvest Capital Partners et Crédit Mutuel Equity étaient composées de :
- Henri Pieyre de Mandiargues et Fabrice Piollet, associés, Louis Feuillée et Théa Delhaye, collaborateurs, en Private Equity
- Cédric Chanas (associé corporate), Priscilla Van Den Perre (associée tax), Anne Febvre (collaboratrice corporate) et Mickaël Ammar (collaborateur tax).
Pour les aspects de droit Belge, le cabinet Strelia est intervenu sur l’opération, avec l’équipe suivante :
- Laurent Verhavert, Thomas Pouppez, Eugénie Stinglhamber et Benoît Malvaux