Paul Hastings Represents Macquarie in Financing First Reserve’s Acquisition of Hoover Container Solutions

February 03, 2015

New York, NY- Paul Hastings LLP, a leading global law firm, represented Macquarie US Trading LLC as administrative agent and lead arranger in connection with the $193 million partial financing of Hoover Container Solutions acquisition by First Reserve, the largest global private equity firm exclusively focused on energy.

Hoover is a leading provider of chemical tanks, cargo carrying units and related products and services to the global energy, petrochemical and related industrial end markets.

The partial financing consisted of a $165 million term loan facility and a $30 million of revolving credit facility.

Leveraged Finance partners Michael Michetti and Michael Chernick led the Paul Hastings team, which included of counsel Jacob Minas and associates Heidi Spalholz and Andrew Jenkinson.

Paul Hastings has led the financings on several of First Reserve’s acquisitions including the purchase of TPC Group with SK Capital Partners, Dixie Electric, Utility Service Associates and Ameriforge.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.