Matthew Merkle
Overview
Experience
Representative Matters
- Madison Dearborn Partners on a €500 million offering in connection with the financing of the acquisition of MoneyGram International, Inc.
- Navacord Corp., controlled by Madison Dearborn Partners, LLC, in connection with an offering of $500 million of high yield bonds.
- Navacord Corp., controlled by Madison Dearborn Partners, LLC, in connection with an add-on offering of $100 million of high yield bonds.
- An ad hoc group of lenders to Archer Limited on the successful refinancing and recapitalization of its $600 million term loan.
- STADA Arzneimittel AG, a portfolio company of Bain Capital and Cinven, in its successful offer to exchange €1.4 billion in aggregate principal amount of its outstanding 3.5% Senior Secured Notes.
- Engineering Ingegneria Informatica S.p.A. and its shareholders Bain Capital and NB Renaissance Partners in connection with the financing aspects of the acquisition of a majority stake in Be Shaping the Future S.p.A., including an offering of €385 million of high yield bonds.
- Bain Capital Private Equity on the €3 billion acquisition and financing for Fedrigoni.
- Bain Capital on the financing for the acquisition of a majority stake in House of HR.
- Bain Capital, as part of a consortium, on the financing for their investment in Italian Serie A club Atalanta Bergamasca Calcio S.p.A.
- United Group B.V., which is majority-owned by BC Partners, in connection with the financing for its acquisition of Wind Hellas, including an offering of €980 million fixed and floating rate high yield bonds.
- Option Care Health Inc. in connection with its debut offering of $500 million of high yield bonds.
- Gazit Hercules 2020 Limited (Newco) on the definitive merger agreement for a recommended cash acquisition of Atrium European Real Estate Limited.
- CPP Investments and BC Partners on the financing for the acquisition of global MedTech platform CeramTec.
- Cobham on the c. £2.57 billion recommended all cash acquisition of Ultra Electronics Holdings plc.
- Ares on the £400 million preferred equity investment in McLaren Group.
- United Group B.V., which is majority-owned by BC Partners, in connection with an offering of €300 million of high yield bonds.
- PizzaExpress on its successful refinancing, including an offering of £335 million of bonds and entry into its new super senior revolving credit facility.
- Guala Closures S.p.A. in connection with its offering of €500 million of high yield bonds to refinance certain existing debt and its entry into a new €80 million revolving credit facility.
- Transcom Holding AB (publ) in connection with its offering of €315 million in high yield bonds.
- L Catterton in the offering of €430 million in aggregate principal amount of 5.25% Senior Notes due 2029 as part of the financing for the acquisition of the BIRKENSTOCK Group.
- Nexi S.p.A. in connection with an offering of €2.1 billion in high yield bonds as part of the financing for the proposed mergers of Nexi with Nets and SIA.
- TI Fluid Systems plc in connection with an offering of €600 million of high yield bonds by its subsidiary TI Automotive Finance plc.
- Spa Holdings 3 Oy in connection with an offering of €350 million in euro-denominated high yield bonds and $305 million in dollar-denominated high yield bonds issued in connection with the acquisition of Ahlstrom-Munksjö Oy by Bain Capital.
- Intelligent Packaging Limited in connection with the offering of $100 million of high yield bonds.
- United Group B.V. in an offering of €150 million of high yield bonds in connection with the acquisition of Nova Broadcasting Group EOOD.
- Specialty Building Products in connection with an offering of $75 million in high yield bonds as part of the financing for the acquisition of the group by The Jordan Company.
- L Catterton on its agreement to acquire a majority stake in BIRKENSTOCK Group.
- Starwood Capital on the intention to launch a Public Takeover Offer for CA Immobilien Anlagen AG.
- Intelligent Packaging Holdco Issuer Limited Partnership, a portfolio company of Madison Dearborn Partners, LLC, in connection with an offering of $125 million of high yield bonds.
- Selecta Group B.V., a portfolio company of KKR, in connection with the successful recapitalisation of the Selecta group, including the issuance of euro- and CHF-denominated first lien and second lien notes due 2026.
- United Group B.V., which is majority-owned by BC Partners, in connection with an offering of €400 million of high yield bonds.
- Specialty Business Products, a portfolio company of Madison Dearborn Partners, LLC, in connection with an offering of $50 million of additional high yield bonds under its existing indenture.
- Specialty Business Products, a portfolio company of Madison Dearborn Partners, LLC, in connection with an offering of $600 million of high yield bonds.
- Bain Capital and its consortium partners on the financing aspects of their €2.1 billion proposed public takeover of Ahlstrom-Munksjö Oyj.
- United Group B.V. in connection with the financing aspects of its acquisition of Bulgarian Telecommunications Company EAD, including an offering of €1.2 billion of high yield bonds, and an offering of an additional €625 million of high yield bonds to refinance existing debt of United Group B.V.
- Bain Capital and NB Renaissance Partners in connection with the financing for their acquisition of Engineering Ingegneria Informatica S.p.A., including an offering of €605 million of high yield bonds.
- The Ardonagh Group, majority owned by Madison Dearborn Partners and HPS Investment Partners, in connection with the largest-ever unitranche financing transaction globally.
- Bain Capital, Cinven and Nidda Healthcare Holding GmbH in connection with the offering of €200 million of high yield bonds.
- Merlin Entertainments group, which is owned by Blackstone, KIRKBI and CPPIB, in connection with the offering of €500 million of high yield bonds.
- The consortium led by Advent, Cinven and the RAG-Stiftung on the financing aspects of the acquisition of the elevator division of thyssenkrupp AG, including €6.7 billion of high yield bonds.
- Bain Capital, Cinven and Nidda Healthcare Holding GmbH in connection with the offering of €350 million of high yield bonds.
- Fabric (BC) S.p.A., a portfolio company of Bain Capital, on its offering of €225 million Senior Secured Floating Rate Notes due 2026.
- Bain Capital, Cinven and Nidda Healthcare Holding GmbH in connection with the offering of €600 million of high yield bonds.
- Selecta Group B.V., a portfolio company of KKR, in connection with its offering of €100 million 57/8% Senior Secured Notes due 2024 and €50 million Senior Secured Floating Rate Notes due 2024.
- Nexi S.p.A. in an offering of €825 million of high yield bonds.
- Advent International on the financing aspects of its acquisition of Industria Chimica Emiliana.
- Bain Capital and Carlyle on the financing aspects of their public takeover offer for OSRAM Licht AG.
- United Group B.V. in connection with the financing aspects of its acquisition of Tele2 Croatia, including an offering of €200 million of high yield bonds.
- Blackstone on financing aspects of the recommended £4.77 billion cash offer for Merlin Entertainments, a global leader in location-based, family entertainment.
- United Group B.V., which is majority-owned by BC Partners, in connection with an offering of €550 million of high yield bonds.
- KKR on the financing aspects of its takeover offer for TelePizza Group, S.A., including €335 million of high yield bonds.
- Nexi S.p.A. and Mercury UK Holdco Limited on the Initial Public Offering of the ordinary shares of Nexi S.p.A., the largest IPO in Europe to date in 2019.
- Bain Capital, Cinven and Nidda BondCo GmbH in connection with the offering of €250 million of high yield bonds.
- BC Partners on the financing aspects of its acquisition from KKR of a majority stake in United Group, a leading media and communication services provider across Southeast Europe, including €306 million of high yield bonds.
- Fabric (BC) S.p.A., a portfolio company of Bain Capital, on the financing aspects of its acquisition of Gruppo Cordenons S.p.A., including an offering of €125 million of high yield bonds.
- Nexi Capital S.p.A., a portfolio company of Advent International, Bain Capital and Clessidra, in an offering of €2.2 billion of high yield bonds and the private placement of an additional €400 million of bonds. This transaction was named “High Yield Deal of the Year” at the IFLR Europe Awards 2019.
- Bain Capital on the financing aspects of its acquisition of Fedrigoni S.p.A., including an offering of €455 million of high yield bonds.
- Advent International on the financing aspects of its €1.919 billion acquisition of leading European generics business Zentiva from global biopharmaceutical company Sanofi.
- The ad hoc committee of senior secured lenders to CGG S.A. and its subsidiaries in connection with the financing and capital markets aspects of a pre-arranged restructuring through concurrent French sauvegarde, Chapter 15 and Chapter 11 proceedings. This transaction was named “Restructuring Deal of the Year” at the IFLR Europe Awards 2019.
- PAI Partners in connection with the offering by Hercule Debtco S.à r.l. of €150 million of high yield bonds to finance the acquisition of Albéa S.A.
- Selecta Group B.V., a portfolio company of KKR, in connection with its offering of €1.3 billion (equivalent) of high yield bonds, the proceeds of which were used to finance the acquisition of Gruppo Argenta S.p.A. and to refinance Selecta’s existing debt.
- SK Capital in connection with the financing arrangements for the acquisition by its portfolio company, Wavelength Pharmaceuticals, Ltd., of Perrigo Company PLC’s active pharmaceuticals ingredients (“API”) business in Israel, the United States and India.
- Blackstone on the financing aspects of its acquisition of Clarion Events, a UK-based global leader in events and exhibitions, from Providence Equity Partners.
- Bain Capital, Cinven and their acquisition vehicles Nidda Healthcare Holding AG and Nidda BondCo GmbH in connection with the offering of €735 million 31/2% Senior Secured Notes due 2024 and €340 million 5% Senior Notes due 2025 to finance their acquisition of shares in STADA Arzneimittel AG.
- Altor Fund Manager AB and its portfolio company The Norican Group in connection with the offering by Norican A/S of €340.0 million of high yield bonds to finance the acquisition by The Norican Group of Light Metal Casting Solutions GmbH and repay existing debt.
- Nets A/S, a leading provider of digital payment services and related technology solutions across the Nordic region, in connection with the offering of €400.0 million of senior notes by its subsidiary Nassa Topco AS.
- Partners Group AG and PSP Investments on the financing aspects of their acquisition of French clinical pathology lab operator Cerba HealthCare from PAI Partners.
- Mydentist, a portfolio company of The Carlyle Group, in connection with the offering of £425 million of senior secured bonds and the private placement of £130 million of second lien bonds. This transaction was shortlisted for “High Yield Deal of the Year” at the IFLR Europe Awards 2016.
- Advent International, Bain Capital and Clessidra in connection with the offering by Mercury Bondco plc of €1.1 billion of high yield PIK notes to finance the acquisition of Istituto Centrale delle Banche Popolari Italiane S.p.A. (ICBPI), an Italian payments banking group. This transaction was named “High Yield Deal of the Year ” at the IFLR Europe Awards 2016.
- Bain Capital, in connection with an offering of €225 million of high yield bonds to finance its acquisition of the Wittur Group.
- Smurfit Kappa Group in connection with its offering of €750 million of bonds.
- Bain Capital and Advent International in the financing of their DKK17 billion acquisition of Nordic card-payment company Nets Holding AS.
- Autodistribution, a portfolio company of TowerBrook, in connection with the offering by Autodis S.A. of €240 million of high yield bonds.
- Hastings Insurance Group (Finance) plc in connection with its offering of £266.5 million fixed rate and £150 million floating rate high yield bonds to finance the acquisition of a 50% stake in Hastings Insurance Group Limited by Goldman Sachs Merchant Banking Division.
Prior to joining Kirkland & Ellis, Matthew represented a wide range of private equity and other clients in complex financing and other transactions, including Apollo Global Management, Lion Capital, Paulson & Co., J.P. Morgan, Credit Suisse, Deutsche Bank, Morgan Stanley and The Royal Bank of Scotland.
Prior Experience
Kleinberg, Kaplan, Wolff & Cohen, P.C., New York
Associate, 2012
Cravath, Swaine & Moore LLP, New York & London
Associate, 2008–2012
More
Thought Leadership
Publications
Author, “Reverse Yankee Bonds and the New EU Market Abuse Regime,” The Lexis Practice Adviser Journal, Summer 2016.
The Lexis Practice Advisor Journal, Editorial Advisory Board Member.
Seminars
Brexit Breakfast Seminar Panel on the A-Z of Bond Restructuring and Exchange Offer Trends, London, June 2016.
Euromoney plc European High Yield Bond Conference, London, March 2016.
Kirkland & Ellis Private Equity Seminar, Munich, March 2016.
Distressed Debt Investor Forum, London, November 2014.
Recognition
IFLR Europe, "Deal of the Year: High Yield – Fedrigoni," 2023
Recognized as a leading lawyer for his “wealth of experience” and described by clients as “extremely thoughtful, responsive and commercial” by Chambers UK, 2022
Ranked for his representation of banks and private equity houses and described as “extremely thoughtful, responsive and commercial” by Chambers Global, 2022–2023
Recognized as a leading individual by The Legal 500 UK, 2022
London-based Capital Markets team ranked Tier 1 for High Yield and described as “extremely knowledgeable, highly responsive, always available and very reliable” in The Legal 500 UK, 2022
Recognized as a market leader for Capital Markets: Debt by IFLR1000 UK, 2022
Recognized by Legal Week in its 2020 list of “Rising Stars: Europe's Best Up-and-Coming Private Equity Lawyers”, which highlights the best of the up-and-coming talents within the U.K. and European legal industry.
International Financial Law Review European Awards 2019, “High Yield Deal of the Year” for Nexi’s €2.6 billion of high yield bonds and “Restructuring Deal of the Year” for the restructuring of CGG S.A.
Transatlantic Legal Awards, “Transatlantic Debt Capital Markets Team of the Year,” 2017.
Recognized as one of “The Hot 100 2017” by The Lawyer magazine for 2017, which identifies “the best lawyers in the business for the year.”
International Financing Review, “Europe High Yield Bond of the Year,” IFR Awards 2015, for ICBPI’s €1.1 billion of high yield PIK notes.
Law 360, “Capital Markets Group of the Year,” 2015.
The Legal 500, “Firm Specialism Award for High Yield,” 2014.
IFLR Europe, “Team of the Year for High Yield,” 2014.
Memberships & Affiliations
The Lexis Practice Advisor Journal, Editorial Advisory Board Member
The Rosetta Art Centre CIO, Trustee
Credentials
Admissions & Qualifications
- 2009New York
Education
- Harvard Law SchoolJ.D.2008
- Vanderbilt UniversityB.A.summa cum laude2003Phi Beta Kappa