Republic National Distributing Company, LLC — Representation of Republic National Distributing Company, LLC and 17 of its subsidiaries (RNDC), in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. RNDC was, at its height, the second largest alcohol beverage distributor in the nation, with relationships with over 2,000 suppliers and 170,000 customers across its expansive nationwide distribution network. In advance of the Chapter 11 filing, Kirkland advised RNDC on the consummation of multiple going-concern sale transactions, which generated more than $1.1 billion in aggregate sale proceeds. RNDC commenced their Chapter 11 cases with a $250 million in debtor-in-possession financing facility to pursue additional value-maximizing sale transactions and effectuate an orderly wind-down of the business.
Grupo Antolin — Representation of Grupo Antolin Irausa, S.A.U., an automotive interior solutions provider, and 35 of its affiliates in connection with the commencement of their Chapter 15 cases in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 15 proceedings seek to recognize a Spanish restructuring plan supported by a majority of its bank lender group to address approximately €1.25 billion of funded debt, over the objection of their bondholders.
Optiv — Representation of Optiv, a leading cybersecurity solutions and services provider and portfolio company of KKR, on a bespoke and comprehensive liability management transaction with existing lenders across its entire capital structure. The transaction, which was supported by all of Optiv’s existing lenders and its sponsors, resulted in significant maturity extensions under Optiv’s existing facilities that provides the company with extended runway to continue investing in its platform and exploring value-maximizing growth opportunities.
Multi-Color Corporation — Representation of Multi-Color Corporation and 55 of its affiliates (collectively, MCC) in their prepackaged Chapter 11 proceedings filed in the United States Bankruptcy Court for the District of New Jersey. MCC is a leading global provider of prime label solutions, with more than 12,500 employees worldwide supporting prominent brands across end categories, including food and beverage, wine and spirits, home and personal care, and healthcare, among others. MCC entered Chapter 11 with the support of its key stakeholders, including an ad hoc group of secured first lien lenders holding more than 72% of first lien claims, and its equity owner, creditor and plan sponsor, CD&R. MCC’s confirmed Chapter 11 plan reflects a global settlement among MCC’s major constituencies and reduces net debt by nearly $4 billion. MCC will receive an $889 million investment from the company’s equity sponsor and other secured lenders. The plan leaves general unsecured claims unimpaired.
