Overview

Mario Ippolito is a partner in the Global Finance practice of Paul Hastings and is based in the firm’s New York office. Mr. Ippolito concentrates his practice in domestic and cross-border leveraged finance transactions and other debt financings in a variety of industries, including healthcare, life sciences, energy, technology, telecommunications and media, and retail. He has extensive experience representing banks, funds and other financial institutions and issuers in a variety of debt finance transactions, including first and second lien credit facilities, bridge loans, mezzanine and subordinated debt financings, asset-based credit facilities, acquisition financings, refinancing and recapitalization facilities, intercreditor arrangements, and secured creditor issues. 

Mr. Ippolito also regularly represents creditors in workouts, restructurings, bankruptcies and reorganizations, including DIP financings, 363 sales, credit bids, out-of-court restructurings and restructuring support arrangements, UCC sales, and other creditor remedies.

Education

  • Columbia Law School, J.D., 1984 (Columbia Journal of Transnational Law, Editor)
  • Georgetown University, B.S., 1980 (magna cum laude)

Representations

Select Leveraged Finance Representations

  • Commercial receivables management company (counsel to direct lenders in a $335 million senior secured credit facility consisting of a revolver, term loans and delayed draw term loans in support of the acquisition by a private equity firm)
  • DMC Power, a design and manufacturing company for high voltage power infrastructure (counsel for Churchill, co-lead arranger, in a $140 million first lien term loan, delayed draw term loan and revolving credit facility in support of the acquisition by Golden Gate Capital)
  • Ovation Holdings, a flow control instrumentation services provider (counsel for the direct lender in a $140 million first lien term loan, delayed draw term loan and revolving credit facility in support of the acquisition by Warren Equity Partners)
  • Nutra-Med Packaging, a pharmaceutical packaging company (counsel for a direct lender in a $74 million first lien term loan, delayed draw term loan and revolving credit facility in support of the acquisition by GenNx360)
  • Prism Parent, a software provider (counsel to Antares as lead arranger in a $650 million first lien term loan, delayed draw term loan and superpriority revolving facilities in support of the acquisition by Madison Dearborn)
  • Smartsign, an online sign retailer (counsel for a direct lender in a $170 million first lien term loan and revolving credit facility in support of the acquisition by Sentinel)
  • Wellspring Pharmaceutical, a consumer healthcare products company (counsel for a direct lender in a $107.5 million first lien term loan, delayed draw term loan and revolving credit facility in support of the acquisition by Avista Capital Partners)
  • IT Savvy, an IT services provider (counsel for a direct lender in a $105 million first lien term loan, delayed draw term loan and revolving credit facility in support of the acquisition by GenNx360)
  • Itafos Inc., a vertically integrated phosphate fertilizer company (counsel to Royal Bank of Canada in a $85 million term loan facility and $35 million ABL Facility in support of a refinancing)
  • ISG Enterprises, a valve sales and service enterprise (counsel for the direct lenders in a $250 million first lien term loan, delayed draw term loan and revolving credit facility in support of the acquisition by The Jordan Company)
  • Quirch Foods, a food distribution portfolio company of Palladium Equity Partners (counsel to Royal Bank of Canada in a $165 million Term Loan Facility and $100 million ABL Facility)
  • All My Sons, a leading provider of premier moving and storage services (counsel to Antares as lead arranger in a $455 million first lien term and revolving facility and second lien term loan facility in support of a recapitalization with Golden Gate Capital)
  • MI Windows & Doors, a large supplier of windows and doors (counsel to Royal Bank of Canada in a $750 million Term Loan Facility and $150 million ABL Facility)
  • Genex Services, a clinical management services provider (counsel to agent and lenders under a syndicated first lien term and revolving facility and a syndicated second lien term facility to support acquisition by a private equity firm)
  • Integrated Prescription Management, a pharmacy benefit manager (counsel to agent and direct lenders under a first lien term and revolving facility to support acquisition by a private equity firm)
  • Smithfield Foods (counsel to the issuer in connection with the issuance of $1.4 billion aggregate principal amount of senior secured notes and refinancing of certain existing credit facilities)
  • Mirion Technologies, a portfolio company of Charterhouse Capital Partners (counsel to agent and lenders under syndicated $540 million senior secured credit facilities)
  • Bass Pro and Cabela’s, leading retailers of hunting, fishing, camping and related outdoor recreation merchandise (counsel to agent and lenders under syndicated $5.1 billion syndicated senior secured credit facilities and an asset-based credit facility to support Bass Pro’s acquisition of Cabela’s)
  • Service Logic, a portfolio company of Sterling Investment Partners and a leading provider of energy and HVAC services (counsel to Antares Capital in connection with $165 million senior secured credit facilities for an acquisition)
  • SRS Distribution, a distributor of residential roofing materials (counsel to the lead arrangers in connection with a $220 million syndicated senior secured term loan and a $100 million asset-based revolving credit facility to support the acquisition by Berkshire Partners)
  • Physician practice association and related affiliated management services organization (counsel to a direct lender in connection with a $95 million senior credit facility for the acquisition by CD&R)
  • TOMS Shoes (counsel to the agents and lead arrangers in connection with a $306 million syndicated term loan credit facility to support the acquisition by Bain Capital Partners)
  • ThyssenKrupp Waupaca (counsel to GE Capital in connection with $485 million in term loan and ABL credit facilities to support the acquisition by KPS Capital Partners)
  • Bishop Lifting Products (counsel to the agent and joint lead arrangers in connection with $452 million term loan and asset-based credit facilities to support the acquisition by AEA Investors)
  • BRG Sports, a designer, developer and marketer of branded sports equipment (counsel to lead arrangers in connection with $430 million syndicated term loan and asset-based credit facilities to support the acquisition by Fenway Partners)
  • Paradigm Management Services, a management services provider for workers’ compensation (counsel to the lead arrangers in connection with a $165 million syndicated credit facility)
  • Alere Inc., a diagnostics test manufacturer (counsel to GE Capital, as lead arranger, in connection with various syndicated senior secured credit facilities to support various acquisitions by the company)
  • GE Capital (counsel to GE Capital in connection with numerous senior secured, asset-based and special situations debt financings across various industries including healthcare, energy, retail and manufacturing industries)

Select Asset-based Credit Facility Representations

  • Verdesian Life Sciences, an industry-leading crop nutrition and biosolutions research and development portfolio company of Paine Schwartz Partners (counsel to the agent on a $48 million asset-based credit facility)
  • West Marine, a leading boating supply and fishing retailer (counsel to agent and lenders under a $205 million asset-based credit facility in support of the acquisition by L Catterton)
  • Alvogen Pharma US, Inc. (counsel to agent in connection with a $165 million asset-based revolving credit facility)
  • Resource Environmental Solutions, an ecological restoration company (counsel for Bank of America in a $300 million asset-based financing)
  • 99 Cents Only Stores, a discount retailer (counsel to agent and lenders in connection with a $160 million asset-based revolving credit facility in support of the acquisition by Ares Management)
  • SiteOne Landscape Supply (counsel to agent and lenders under an asset-based credit facility to support acquisition by CVC Capital Partners)
  • JBS USA Food Company (counsel to agent and lenders in connection with a US $900 million asset-based revolving credit facility)
  • US LBM Holdings, the seventh-largest U.S. lumber and building materials distributor controlled by Bain Capital (counsel to Royal Bank of Canada in a $275 million ABL Facility)
  • Bob’s Discount Furniture, a furniture retailer (counsel to RBC as agent in connection with a $150 million asset-based revolving credit facility)
  • Petsmart  (counsel to Citibank as agent in connection with a $750 million asset-based credit facility in connection with the acquisition by BC Partners)
  • SiteOne Landscape Supply (counsel to agent and lenders under an asset-based revolving credit facility)
  • Cleaver Brooks, a boiler room solutions provider (counsel to Royal Bank of Canada on a $60 million ABL credit facility)
  • Associated Materials, a manufacturer of exterior residential building products and portfolio company of Hellman & Friedman (counsel to agent and lenders in connection with a $175 million asset-based revolving credit facility)
  • Rockpoint Gas Storage, an owner and operator of natural gas storage (counsel to the agent and lead arrangers in connection with $380 million term loan and asset-based revolving credit facilities to support the acquisition by Brookfield Asset Management)
  • Cole Haan (counsel to the agent on the $290 million syndicated senior secured term loan facility and a $100 million asset-based revolving credit facility to support the acquisition Apax Partners)
  • TOMS Shoes (counsel to Bank of America, as agent, in connection with a $60 million asset-based revolving credit facility to support the acquisition by Bain Capital Partners)
  • NCSG Crane (counsel to RBC and other banks in connection with a CDN$225,000,000 first lien asset-based revolving credit facility in connection with an acquisition)
  • Hostess Brands (counsel to the agent on a $60 million asset-based credit facility to support the acquisition by Apollo)
  • Shop Vac Corporation (counsel to GE Capital in connection with a $70 million asset-based revolving credit facility)

Select Mezzanine Finance Representations

  • QAS (counsel for the direct lender in a $35 million unsecured holdco term loan)
  • Palmetto Exterminators (counsel for the direct lender in a $20.5 million unsecured mezzanine loan facility and co-equity investment in connection with a tack-on acquisition)
  • Digital Marketing Agency (counsel for a private investment fund in a $56.5 million preferred and common stock investment in connection with an acquisition by Falfurrias Capital)
  • Blackstone Mezzanine Group (counsel to BMG in connection with various unsecured subordinated debt financings, equity kickers and other mezzanine financings for, among others, Aspen Marketing, ASPG Sports, Bright Now Dental, Children’s Place, Correctional Medical Services, Oxbow Carbon and Minerals, WL Plastics, Paramount Cards and HQ Global)

Select Loan Workout and Restructuring Representations

  • West Marine, a leading boating supply and fishing retailer (counsel to agent and lenders under a $205 million asset-based credit facility in connection with a liability management transaction that effectuated a recapitalization of the business and injected $150 million of new money)
  • Alvogen Pharmaceuticals (counsel to JPMorgan in a $240 million asset-based revolving credit facility in out-of-court restructuring providing for the extension and restructure of the company’s term debt)
  • 99 Cents Only Stores, a discount retailer (counsel to agent under the company’s asset-based revolving credit facility in connection with out-of-court recapitalization transactions designed to improve the company’s balance sheet and enhance its liquidity position)
  • Proserv, a Scotland-based global engineered products and services business (counsel to revolving credit facility lenders in out-of-court restructuring pursuant to which Oaktree Capital and KKR acquired the company through a debt-for-equity exchange and injection of $50 million of new capital)
  • Coast Crane/Essex Rental (counsel to agent under a senior secured credit facility in connection with DIP financing and 363 sale and subsequent acquisition financing)
  • International Graphics (counsel to agent and direct lenders under a senior secured credit facility in connection with a UCC sale and credit bid and subsequent financings and sale)
  • Purple Communications (counsel to the agent under a senior secured credit facility in connection with the out-of-court restructure)
  • Nuclear molecular imaging company (counsel to the agent under a senior secured credit facility in connection with the out-of-court restructure and sale)
  • Westward Dough (counsel to direct lender under a senior secured credit facility in connection with the out-of-court restructure and sale)
  • Crownline Boats, a boat manufacturer (counsel to the senior secured creditors in workout and UCC sale)
  • BearingPoint, a business consulting firm spun off from KPMG (counsel to ad hoc group of senior secured creditors in bankruptcy and 363 sale)

Engagement & Publications

  • Speaks at industry and client conferences on legal issues relating to finance transactions
  • Contributor to “Asset-Based Lending – A Practical Guide to Secured Financing,” Practicing Law Institute

Involvement

  • Fellow of The American College of Commercial Finance Lawyers
  • American Bar Association, former Vice Chair of the Uniform Commercial Code Committee
  • Loan Syndications & Trading Association
  • The Commercial Finance Association
  • Admitted to practice in New York and Connecticut

Practice Areas

Corporate

Private Equity

Direct Lending and Private Credit Lending

Financial Restructuring

Leveraged & Syndicated Lending

Asset-Based Lending

Life Sciences and Healthcare

LIBOR Transition


Languages

English


Admissions

Connecticut Bar

New York Bar


Education

Columbia Law School, J.D. 1984

Georgetown University, B.S. 1980


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