Kirkland & Ellis LLP advised WL Ross Holding Corp. (NASDAQ: WLRH) on its decision to acquire Nexeo Solutions Holdings LLC, a leading global distributor of chemicals and plastics and a provider of environmental services, from TPG, a leading global alternative asset firm. The anticipated initial enterprise value, including fees and expenses, is $1.669 billion. As part of the transaction, TPG will roll-over a substantial portion of its existing equity and retain approximately 35 percent ownership. Nexeo Solutions will become a wholly-owned subsidiary of WLRH. Immediately following the transaction, WLRH intends to change its name to Nexeo Solutions, Inc. and will apply to continue to trade on The NASDAQ Capital Market under the ticker symbols NXEO, NXEOU, and NXEOW. The full release is available here.
The Kirkland team was led by corporate partners Andy Calder and William Benitez and associate Kfir Abutbul; debt finance partners Melissa Hutson and Lucas Spivey; and tax partner Russell Light.