Transactions
& Case Studies

Natixis’s disposal of most of its complex credit derivative portfolio

Date Announced:
7/4/2010

client:
Natixis

Status:
Closed – 7/2010

Value:
€30.0+ billion

Greektown Casino, LLC’s restructuring

Date Announced:
6/29/2010

client:
Greektown Casino, LLC

Status:
Closed – 6/2010

Value:
$880 million

Aspen Dental Management, Inc., a portfolio company of Ares Management, sale to Leonard Green & Partners

Date Announced:
6/29/2010

client:
Ares Management and its portfolio company Aspen Dental Management, Inc.

Status:
Closed – 10/2010

Value:
Undisclosed

Nu Skin Worldwide’s follow-on equity offering

Date Announced:
6/2/2010

client:
Nu Skin Worldwide

Status:
Closed – 6/2010

Value:
$136 million

Nordic Capital’s acquisition of Handicare International from the Herkules Private Equity Fund

Date Announced:
6/1/2010

client:
Nordic Capital

Status:
Closed – 12/2010

Value:
Undisclosed

Aleris International, Inc.’s Chapter 11 Reorganization

Date Announced:
5/31/2010

client:
Aleris International, Inc.

Status:
Closed – 7/2010

Value:
$2.7 billion Read the case study

Financial advisor to Aleris International on its $2.7 billion Chapter 11 Reorganization

On June 1, 2010, Aleris International Inc. (“Aleris”), a global leader in the production and sale of aluminum rolled and extruded products, recycled aluminum and specifications alloy manufacturing, emerged from Chapter 11. Aleris and its wholly-owned U.S. subsidiary co-debtors filed petitions for voluntary reorganization under Chapter 11 on February 12, 2009, as a result of financial constraints related to the deteriorating global economic situation, declining industrial demand and a swift drop in aluminum prices. Moelis & Company guided Aleris through a highly complex bankruptcy process that involved filing a voluntary petition for relief under Chapter 11 in the U.S. bankruptcy court for its German holding company subsidiary. Aleris’ innovative plan of reorganization received substantial support from its U.S. and European creditor groups and was confirmed in May 2010. Moelis & Company acted as exclusive financial advisor to Aleris and helped the company raise over $2.2 billion of capital over the course of the bankruptcy process.

GLG Partners, Inc.’s sale to Man Group plc

Date Announced:
5/16/2010

client:
Special Committee of the Board of Directors of GLG Partners, Inc.

Status:
Closed – 10/2010

Value:
$1.6 billion Read the case study

Financial advisor to the Special Committee of the Board of Directors of GLG Partners on its $1.6 billion sale to Man Group

On October 14, 2010, Man Group plc (“Man,” LSE: EMG), one of the world’s largest alternative asset managers with $39 billion under management, agreed to buy GLG Partners Inc. (“GLG,” NYSE: GLG), a global alternative asset manager with $24 billion in assets under management (“AUM”), for $1.6 billion. The transaction represents the first ever public-to-public M&A transaction in the alternative asset management sector. The structure included two concurrent transactions with different forms of consideration paid to insiders and the public stockholders. Insiders received Man shares in exchange for their GLG shares based on a valuation of $3.50 per share and public stockholders received cash consideration of $4.50 per share. Man acquired the outstanding common stock of GLG not subject to the share exchange at a 55% premium to the closing price of GLG’s common stock on the last trading day prior to announcement. The transaction brought together two highly complementary businesses, both focused on delivering long-term investment performance. The combined company has $63 billion of net AUM, making it the largest alternative asset manager in the world. Moelis & Company acted as financial advisor to the Special Committee of the Board of Directors of GLG, which represented public shareholders.

Estée Lauder Companies Inc.’s acquisition of Smashbox Beauty Cosmetics, Inc.

Date Announced:
5/16/2010

client:
Estée Lauder Companies Inc.

Status:
Closed – 5/2010

Value:
Undisclosed

Noranda Aluminum Holding Corporation’s initial public offering

Date Announced:
5/12/2010

client:
Noranda Aluminum Holding Corporation

Status:
Closed – 5/2010

Value:
$92 million

Canwest L.P.’s acquisition of substantially all of the assets of Canwest L.P.

Date Announced:
5/9/2010

client:
Investor Group

Status:
Closed – 7/2010

Value:
C$1.1 billion

Beazer Homes USA, Inc.’s public offering of common stock, tangible equity units and senior unsecured notes

Date Announced:
5/2/2010

client:
Beazer Homes USA, Inc.

Status:
Closed – 5/2010

Value:
$448 million

LyondellBasell’s Chapter 11 Reorganization

Date Announced:
4/29/2010

client:
Ad Hoc Group of Senior Secured First Lien Lenders of LyondellBasell

Status:
Closed – 4/2010

Value:
$24.0 billion Read the case study

Financial advisor to the Ad Hoc Group of First Lien Lenders of LyondellBasell on its $24.0 billion Chapter 11 Reorganization

On April 30, 2010, LyondellBasell Industries N.V. (“LyondellBasell,” NYSE: LYB), the world’s third largest independent chemical company based on revenues, successfully emerged from Chapter 11 bankruptcy. The company voluntarily filed for Chapter 11 bankruptcy, resulting from a sudden loss of liquidity caused by the rapidly deteriorating economic environment, in January 2009. Moelis & Company served as financial advisor to the Ad Hoc Group of First Lien Lenders and participated in all aspects of the restructuring process, including leading business due diligence, analyzing alternative plan structures, structuring the rights offering, evaluating exit financing structures, negotiating settlements with other creditor constituencies and assisting in the development and negotiation of the plan of reorganization. Additionally, Moelis & Company was integral in negotiating and structuring LyondellBasell’s $2.8 billion rights offering that was backstopped by members of the Ad Hoc Group as well as the $7.2 billion exit financing. Moelis & Company also acted as the Ad Hoc Group’s principal advisor in connection with negotiating the $6.5 billion Debtor-in-Possession (“DIP”) Term Loan, assembling one of the largest DIP financings ever during a period of great uncertainty in the credit markets.

Jackson Hewitt Tax Service Inc.’s credit facility amendment

Date Announced:
4/29/2010

client:
Jackson Hewitt Tax Service Inc.

Status:
Closed – 4/2010

Value:
$400 million

Aspect Software, Inc.’s second lien secured notes offering

Date Announced:
4/29/2010

client:
Aspect Software, Inc.

Status:
Closed – 4/2010

Value:
$300 million

Atrium Companies, Inc.’s Chapter 11 Reorganization consummated through sale of the company to Golden Gate Capital and Kenner & Company

Date Announced:
4/27/2010

client:
Atrium Companies, Inc.

Status:
Closed – 4/2010

Value:
$682 million

Transactions &
Case Studies


Download CSV