News

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

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

 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

,

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.