Newsroom Categories: Press release

  • McDermott Comment | Asda Buyers Raise £2.75bn In Junk Bond Sale

    PRESS RELEASE

    McDermott Comment | Asda Buyers Raise £2.75bn In Junk Bond Sale

    February 12, 2021

    Read time: 2 min

    Aymen Mahmoud, partner at law firm McDermott Will & Emery, said:

    “This landmark issuance reiterates two current trends in the strongest terms. Firstly, the availability of flexible pools of capital looking for returns means that transaction sizes are likely to grow as the financial markets stabilize. Secondly, the United Kingdom remains a genuine value play for both domestic and foreign investors. The strongest sub-investment credits in the market with extremely resilient business models will continue to attract the best terms at the highest debt quantum Asda is one of many such examples and we see similar examples as we exit times of economic uncertainty and move forward into a period of economic growth.”

    About Us

    Aymen Mahmoud

    Partner

    London – 22 Bishopsgate

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  • McDermott Achieves Victory for ProSiebenSat.1/SevenOneMedia before the ECJ on Regional TV Advertising Ban

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Achieves Victory for ProSiebenSat.1/SevenOneMedia before the ECJ on Regional TV Advertising Ban

    February 11, 2021

    Read time: 4 min

    Munich, February 11, 2021 – The German prohibition on regional advertising in national TV programs might violate EU law, according to a judgment by the European Court of Justice (ECJ) in the case Fussl Modestraße Mayr GmbH (Fussl) v SevenOne Media GmbH, the marketing company of ProSiebenSat.1 (C-555/19). A McDermott team led by Wolfgang von Frentz represented the TV broadcaster in the case.

    According to the German Interstate Broadcasting Treaty (now Interstate Media Treaty) the regional distribution of advertising in a national TV program is prohibited in order to ensure that pluralistic character of the offer of television programs is preserved and local and regional TV broadcasters can benefit from revenues generated by regional advertising. An exception can only be made if the law of the respective Federal State authorizes regional advertising in the context of national broadcasts. The State of Bavaria, where the plaintiff’s advertising was supposed to be broadcast on ProSiebenSat.1, does not make such an exception. As a result, ProSiebenSat.1 refused to broadcast the Fussl commercials in Bavaria.

    The fashion company had filed a lawsuit before the Regional Court of Stuttgart which questioned the conformity of the prohibition with EU law.

    The ECJ found that a total prohibition on regional advertising on national TV may go beyond what is necessary to preserve the pluralistic nature of TV programme supply. It could also create an unacceptable inequality between national television broadcasters and providers of advertising services on the Internet. The ECJ therefore instructed the Regional Court to ascertain whether the situation regarding national TV broadcasters is significantly different to that of advertising services on the internet in respect of regional advertising.

    “What is special about the case is that both parties share the opinion that the prohibition standard of the State Treaty violates European law”, McDermott partner Wolfgang von Frentz says. “If the Stuttgart Regional Court upholds the decision, for example, because it sees unjustified unequal treatment of advertisers on TV and the internet, this will be a milestone for the allowance of regional advertising throughout Germany.”

    The McDermott team advising ProSiebenSat.1/SevenOneMedia comprised Wolfgang von Frentz, Christian L. Masch and Isabella Kätzlmeier.

    About 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 Advises Ovrsea in Majority Stake Acquisition by Bolloré Logistics

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Advises Ovrsea in Majority Stake Acquisition by Bolloré Logistics

    February 10, 2021

    Read time: 3 min

    The digital freight forwarder Ovrsea, established in 2017, has been acquired by a majority stake by Bolloré Logistics. The now majority stakeholder intends to reach €200 million in turnover by 2025.

    McDermott Will & Emery assisted Ovrsea in this operation. Team members inclued:

    • Corporate partner Diana Hund, and associates Maxime Fradet and Antonia Teleman
    • Tax partner Antoine Vergnat, and associate Côme de Saint Vincent

    Ovrsea aims to optimize international transport by providing a web-based management interface, from quotation to invoicing, through real-time tracking. Ovrsea tripled its turnover in 2020 and has gained more than 500 clients since its launch in 2017. With this operation, Ovrsea seeks to double its workforce by the end of 2021 and aims to achieve a turnover of €200 million.

    About 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.

    Diana Hund

    Partner

    Paris

    Antoine Vergnat

    Partner

    Paris

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  • Schulte Advises Hudson Structured Capital Management in Financing Transaction with Eldridge

    Schulte Advises Hudson Structured Capital Management in Financing Transaction with Eldridge

    PRESS RELEASE

    Schulte Advises Hudson Structured Capital Management in Financing Transaction with Eldridge

    February 2021

    Read time: 3 min

    Schulte advised Hudson Structured Capital Management (HSCM), a leading alternative asset manager focused on investments in the re/insurance, transportation and insurtech sectors with more than $3 billion in assets under management and committed capital, in a financing transaction with private-capital firm Eldridge, an investor in businesses across the insurance, credit, tech, real estate, sports, media and consumer landscapes. The transaction, worth approximately $80 million, consists of a private debt issuance with warrants and will allow HSCM to refinance its startup obligations and accelerate further growth.

    The Schulte team advising HSCM was led by finance & derivatives partner Christopher Bell, investment management partner Daniel Hunter, tax partner Philippe Benedict and M&A and securities special counsel Lawrence Natke.

    About Us

    Christopher O. Bell

    Partner

    New York – 919 Third Avenue

    Daniel F. Hunter

    Partner

    New York – 919 Third Avenue

    Philippe Benedict

    Partner

    New York – 919 Third Avenue

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  • McDermott Lawyers Recognised in Private Client Global Elite 2021 for Providing Outstanding Services to High Net Worth Clients

    AWARDS & RANKINGS / PRESS RELEASE

    McDermott Lawyers Recognised in Private Client Global Elite 2021 for Providing Outstanding Services to High Net Worth Clients

    February 2, 2021

    Read time: 4 min

    Ten of McDermott’s Private Client lawyers have been once again recognised in the Private Client Global Elite published in conjunction with Legal Week International. Global Elite names the world’s most respected lawyers advising Ultra High Net Worth clients and serves as a prestigious guide to the top private client and trust and estates litigation talent, as well as rising stars within the industry.

    The Firm’s lawyers are among the exclusive group of just 300 selected advisers, all of whom have been recommended by their peers in the industry, out of 6,000 total nominations received. This recognition acknowledges the strength and scope of McDermott’s transatlantic private client capabilities and the Firm’s global reputation for providing creative and sophisticated service to high and ultra-high net worth clients.

    Lawyers Recognized in Global Elite:

    Lawyers Recognized in Global Elite Ones to Watch:

    To view The Firm’s Private Client Global Elite listing click here.

    About Private Client Global Elite

    The research for this directory is conducted by The American Lawyer’s editorial team. Lawyers are selected based upon nominations from fellow lawyers in the private client world. To be listed they have to have multiple nominations from others. ALM’s Intelligence team works with the Global Elite team, who have in-depth knowledge of the marketplace to list those in the directory based on number of recommendations received from global community, applicant’s international work, depth and breadth of experience. The judging process is managed out of the ALM London office, and the list is finalised and verified by ALM’s global editorial teams. Read more here.

    About 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.

    William J. Butler

    Counsel

    Chicago

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  • McDermott Advises Argon & Co on its Acquisition of R&G Global Consulting

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Advises Argon & Co on its Acquisition of R&G Global Consulting

    February 8, 2021

    Read time: 3 min

    McDermott Will & Emery has advised Argon & Co, a management consulting firm specializing in strategy and business transformation with an international dimension, in its acquisition of Dutch-based R&G Global Consulting.

    With this transaction, Argon & Co continues its international development by strengthening its positioning in Europe in order to best support its clients by providing the required local expertise. With the arrival of R&G, from now on the group provides its clients with local expertise in the Netherlands, Germany and Switzerland, while strengthening its position in the United Kingdom and France.

    McDermott Will & Emery accompanied Argon & Co on this operation with a team composed of:

    • Diana Hund, Partner and Herschel Guez, Associate, in corporate matters
    • Antoine Vergnat, Partner and Côme de Saint Vincent in tax matters
    • Pierre-Arnoux Mayoly, Partner and Hugo Lamour, associate, in financing
    About 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.

    Diana Hund

    Partner

    Paris

    Antoine Vergnat

    Partner

    Paris

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  • Schulte Roth & Zabel Announces Addition of Leading M&A Lawyer Jeffrey Symons

    Schulte Roth & Zabel Announces Addition of Leading M&A Lawyer Jeffrey Symons

    PRESS RELEASE

    Schulte Roth & Zabel Announces Addition of Leading M&A Lawyer Jeffrey Symons

    February 8, 2021

    Read time: 4 min

    Schulte Roth & Zabel (SRZ) announces the addition of Jeffrey Symons as a partner in the M&A and Securities Group, resident in the New York office. He joins the firm from Jones Day, where he was a partner in the Mergers & Acquisitions Group. 

    Mr. Symons focuses his practice on domestic and cross-border M&A transactions, joint ventures, minority and preferred investments, restructurings, related-party transactions and corporate finance. With over 20 years of experience, he has advised corporations and private equity firms on transactional matters with an aggregate value in excess of $150 billion. Mr. Symons has extensive experience advising clients on corporate governance, activism, takeover preparedness and fiduciary duty matters. His practice has involved transactions in a variety of industries, including health care and pharmaceuticals, technology services, telecommunications, energy, transportation, financial services, media and entertainment and manufacturing.

    “We are excited to welcome Jeff to the firm. His significant experience in both private equity and strategic M&A will further enhance our strong capabilities,” said Ele Klein, chair of the M&A and Securities Group, co-chair of the global Shareholder Activism Group and a member of the firm’s Executive Committee.

    “Jeff has an outstanding reputation for providing strategic counsel on complex transactions across a broad range of industries,” said David Efron, SRZ co-managing partner and co-head of the Investment Management Group. “Jeff is an excellent addition to our leading corporate group and we are thrilled to have him join the team as private equity M&A activity continues to increase,” commented Marc Elovitz, SRZ co-managing partner and chair of the Investment Management Regulatory & Compliance Group.

    “SRZ is an industry leader recognized for its sophisticated M&A practice. I am delighted to be a part of this talented team,” said Mr. Symons.

    SRZ’s M&A and securities lawyers regularly advise on complex deals for many of the world’s most active and influential private equity firms. The firm’s M&A transactions have been consistently recognized as “Deals of the Year” by industry rankings and the group is recognized by both Chambers and The Legal 500.

    About Us

    David J. Efron

    Partner

    New York – 919 Third Avenue

    Marc E. Elovitz

    Partner

    New York – 919 Third Avenue

    Ele Klein

    Partner

    New York – 919 Third Avenue

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  • McDermott Will & Emery Advises ABL-TECHNIC on the Acquisition of Paint Stripping Specialists, Industriebedarf GMBH

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Will & Emery Advises ABL-TECHNIC on the Acquisition of Paint Stripping Specialists, Industriebedarf GMBH

    February 8, 2021

    Read time: 3 min

    Frankfurt, February 8, 2021 – McDermott Will & Emery advised ABL-TECHNIC Entlackung GmbH on the acquisition of Industriebedarf GmbH, a medium-sized company for environmentally friendly paint stripping, in the context of an Asset Deal. The financial terms of the transaction are undisclosed.

    Industriebedarf GmbH, founded in 1979 and based in Sulz am Neckar, is a niche company specializing in environmentally friendly paint stripping. Customers include companies from the automotive industry, their suppliers and other companies operating in all areas of surface technology.

    The ABL Group, with ABL-TECHNIC Entlackung GmbH as the operational parent company, is a specialist service provider for industrial paint stripping and offers a broad portfolio of services ranging from paint stripping management to disposal and recovery of recyclables. The company is present at 23 locations in 14 countries. The ABL Group has been part of the Rubicon Partners portfolio since 2011.

    McDermott previously advised ABL Group and its investment company Rubicon Partners on the successful completion of the refinancing of existing financial liabilities (combined with a growth financing component).

    The McDermott team advising ABL-TECHNIC was led by Frankfurt corporate partner Dr. Michael Cziesla, and included Dr. Maximilian Clostermeyer, Dr. Christian Rolf, Isabelle Müller, Tobias Riemenschneider and Elena Platte.

    About 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.

    You may also like

  • McDermott Advises CAPZA on its Acquisition of a Minority Stake in the Magellan group

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Advises CAPZA on its Acquisition of a Minority Stake in the Magellan group

    February 5, 2021

    Read time: 4 min

    McDermott Will & Emery advised CAPZA in the context of its acquisition of a minority stake in the Magellan Partners Group. CAPZA will provide the Magellan group with a €100 million package which will be progressively released in mezzanine, for the vast majority, and in equity over the next five years.

    The purpose of this operation is to accelerate the organic development of Magellan Partners by pursuing a targeted and ambitious acquisition policy.

    CAPZA (formerly Capzanine) has been a leading player in private equity investment in SMEs/ETI since 2004. Based in Europe, the company is majority owned by its employees and is supported by the AXA Group. With €4.7 billion in assets under management, CAPZA puts its experience and passion for corporate development at the service of institutional investors in Europe and around the world.

    Magellan Partners is an Organization and Information System Consulting group anchored in Technology and Data. With more than 1,200 consultants and a turnover of nearly €140 million in 2020, it is one of the leaders in the digital transformation of companies in France.

    In this operation, McDermott Will & Emery intervened alongside CAPZA with a team composed of:

    • Henri Pieyre de Mandiargues, partner, Fanny Rech, Lucas Tabouret and Emmanuelle Turek, associates, in the corporate department.
    • Antoine Vergnat, Partner and Côme de Saint Vincent in tax matters
    • Pierre-Arnoux Mayoly, Partner, Shirin Deyhim and Hugo Lamour, Associates, in financing
    • Sabine Naugès, Partner and Marion Schwartz, Associate, in public and regulatory law
    • Romain Perray, Partner and Hélène Adda, Associate, in personal data law
    • Laura Morelli, Partner and Sarah Candelibes, Intellectual Property Law Associate

    The Magellan Partners Group and its shareholders were advised by Mayer Brown (Patrick Teboul, Maud Bischoff, Constance Bouchet, Laurent Borey, Nicolas Danan and Sarah Rahmoun) and by SEGIF d’Astorg, Frovo et associés (Patrice Frovo and Adrien Frovo).

    On the financial aspects, Capza was accompanied by Cambon Partners (Jonathan Journo, Florian Grison and Yvette Nou) and Magellan Partners by Edmond de Rothschild Corporate Finance (Arnaud Petit, Grégory Fradelizi, Alexandre Aron-Brunetière, Aude-Amel Cheraitia and Léonard Garcia).

    About 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 Comment | Takeover of ‘Pioneering’ Asda is Straight Out of the Private Equity Playbook

    PRESS RELEASE

    McDermott Comment | Takeover of ‘Pioneering’ Asda is Straight Out of the Private Equity Playbook

    February 4, 2021

    Read time: 3 min

    Mark Fine, partner at law firm McDermott Will & Emery, said:

    “The debt markets have always played an integral role in the private equity space and present liquidity in the market is allowing borrowers favorable debt packages with pricing regularly inside initial guidance. The abundance of dry powder and investor demand have helped to fuel this demand and drive pricing down. Spreads are now back to pre-COVID levels. This has meant a busy start to the year in both the loan and high yield markets and Asda is one of a number of large primary issuances coming to market in the forthcoming weeks. The markets are somewhat in contrast to the macro picture, where European economies have stood still and lockdowns continue which suggests a dislocation between the fundamentals and technicals.”

    About Us

    Mark Fine

    Partner

    London – 22 Bishopsgate

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