Kirkland & Ellis advised Pelican Energy Partners, L.P. in connection with its acquisition of all outstanding loans under Axon Pressure Products, Inc.’s $40 million senior secured credit facility. Subsequent to its debt acquisition, Pelican exchanged a portion of its total debt claim for all of the equity interests in Axon Pressure Products, Inc.’s parent company, Pressure Holdings, Inc., whereby Pelican became the sole equity owner and sole lender to the Axon enterprise in fewer than six weeks. Axon provides a range of products and services to onshore and offshore drilling and extraction operations.
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The Kirkland team was led by restructuring partners Brian Schartz and Justin Bernbrock and included transactional partners Christian Atwood, William Benitez, Kyle Watson and Ryan Copeland.