Vinson & Elkins represents Nexeo Solutions of The Woodlands in its pending acquisition by WL Ross Holding Corp. in a deal valued at $1.575 billion. Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom represent WL Ross, a special purpose acquisition company formed by WL Ross & Co. of New York.
On March 21, Nexeo Solutions, a chemical and plastics distribution company, announced a merger agreement with WF Ross Holdings. With the transaction, which is valued at $1.575 billion, Nexco Solutions will become a wholly-owned subsidiary of WL Ross Holding. After the merger, WL Ross Holding will change its name to Nexeo Solutions. TPG, a private equity firm that is currently the majority owner of Nexeo Solutions, will retain about 35 percent of the new company.
The deal is subject to approval by WL Ross Holding shareholders and other customary closing conditions, including regulatory approvals.
Leading the V&E team for Nexeo Solutions and TPG are M&A partner Keith Fullenweider and senior associate Lande Spottswood, capital markets partner Sarah Morgan, tax partner John Lynch and senior associate Lina Dimachkieh, all of Houston, with assistance from corporate senior associates Shamus Crosby and Scott Rubinsky and associates Claire Campbell, Jessica Lewis, Yong Eoh and Will White, and tax associate James Melchers.
Others on the V&E team include finance partner David Wicklund of New York; employee benefits partner David D'Alessandro of Dallas, senior associates Regina Ibarra of Houston and Katherine Mull of Dallas, and associates Alex Farr and Steven Oyler; environmental partner Larry Nettles, counsel Larry Pechacek and associate Matthew Dobbins, all of Houston; antitrust partner William Vigdor, senior associate David Smith and associate Alicia Burns-Wright, all of Washington, D.C.; real property senior associate Will Russ and associate Nick Buehner, both of Dallas; and labor partner Tom Wilson of Houston and counsel Martin Luff of London.
The Kirkland team for WL Ross Holding is led by corporate partners Andrew Calder and William Benitez, both of Houston; debt finance partners Melissa Hutson of New York and Lucas Spivey of Houston; and tax partner Russell Light of New York.
The Skadden lawyers include corporate partner Thomas Ivey and associates Joseph Halloum, Charles Rogerson, Joseph Casey and Christopher Hammond, all of Palo Alto; corporate finance partner Gregg Noel of Palo Alto and Los Angeles; financial institutions M&A partner David Ingles of New York; tax partner Sean Shimamoto of Palo Alto, and executive compensation and benefits partner Joseph Yaffe of Palo Alto.
REPRINTED WITH PERMISSION FROM THE MARCH 21 2016 EDITION OF TEXAS LAWYER © 2016 ALM MEDIA INC. ALL RIGHTS RESERVED. FURTHER DUPLICATION WITHOUT PERMISSION IS PROHIBITED