Kirkland & Ellis LLP counseled Blackstone Energy Partners on its binding agreements to acquire a controlling, majority interest in Ulterra Drilling Technologies from affiliates of American Securities LLC. American Securities and certain members of management will retain a minority equity interest in the Company going forward. Financial terms were not disclosed. The transaction is expected to close prior to year-end 2018.
The Kirkland team was led by corporate partners Rhett Van Syoc and Cyril Jones and associates Adam Garmezy, Leslie Vaughn, Andrew Lombardo and Daniel Cadis; tax partner Mark Dundon and associate William Dong; and debt finance partners Melissa Hutson, Lucas Spivey and Yuli Wang and associate Cecilia Liu.