Kirkland & Ellis Represents Braas Monier and its Stakeholders in Connection with Refinancing, High-Yield Bond and IPO

Kirkland & Ellis International LLP represented Braas Monier Building Group SA and its stakeholders, including Apollo Management, TowerBrook Capital Partners and York Capital Management, in connection with Braas Monier’s recent refinancing and high-yield bond offering, and the initial public offering of the business on the Frankfurt Stock Exchange earlier this week. The partial listing raised €470 million (approx. $639 million) and valued Monier at €940 million (approx. $1.28 billion).

Apollo, TowerBrook and York, together with other lenders, acquired Monier in 2009 in a groundbreaking, senior lender led debt-for-equity restructuring, which was the first of its kind in Europe. Kirkland was lead counsel in the Monier restructuring representing Apollo, TowerBrook and York.

The transaction was led by corporate partners Erik Dahl and Christian Iwasko, tax partner Roderic Pagel, finance partner Neel Sachdev and capital markets partner William Burke, as well as corporate associate Thibault Reichelt and finance associate Bryan Robson. Other Kirkland attorneys involved in the transaction included corporate partner Björn Holland, corporate associates Michelle Tong, Sylvia Strumpler and Philipp Mangini-Guidano, tax partners Oded Schein, Ulf Kieker, Steven Clemens, Rachel Cantor and Mike Carew, tax associate Michael Schöpfel, finance associate Susannah Amini and capital markets associates Tim Volkheimer and James Simpson.