Permira Completes Acquisition of DiversiTech
June 02, 2017
New York – Paul Hastings LLP, a leading global law firm, announced today the successful completion of Permira's acquisition of DiversiTech, an aftermarket manufacturer and supplier of highly engineered components for residential and light commercial HVAC and refrigeration. Paul Hastings represented RBC Capital Markets, Barclays Bank PLC, Deutsche Bank Securities Inc. and SG Americas Securities, LLC as joint lead arrangers and Royal Bank of Canada as administrative agent on the financing for the acquisition. The financing consisted of $325 million first lien term loan facility, $50 million first lien revolving credit facility and $120 million second lien term loan facility. The transaction closed on June 1, 2017.
The Paul Hastings Leveraged Finance team consists of more than 100 lawyers focusing on key markets across Asia, Europe, Latin America, and the U.S. Our lawyers advise many of the largest and most sophisticated financial institutions around the world. Paul Hastings is among a small number of firms that can be relied upon to handle complex deals involving numerous parties. The Leveraged Finance team recently advised on several high-profile deals, including the US$2.4 billion financing for MacDonald, Dettwiler and Associates’ acquisition of DigitalGlobe Inc., the US$5.1 billion financing for Bass Pro Shops’ acquisition of Cabela’s Incorporated, the US$1.9 billion financing for Gulf Oil, the US$442.5 million first lien credit facility for XIO Group’s acquisition of J.D. Power and Associates, and the US$535 million refinancing of existing credit facilities and dividend recapitalization for Vivid Seats LLC.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.