Kirkland & Ellis advised BCP QualTek HoldCo, LLC (“QualTek”), a leading turnkey provider of infrastructure services to the 5G wireless, telecom, and renewable energy sectors, on its business combination with Roth CH Acquisition III Co. (NASDAQ: ROCR), a publicly-traded special purpose acquisition company. Upon closing of the transaction, the combined company will be renamed “QualTek Services Inc.” and is expected to remain listed on the NASDAQ under the new ticker symbol “QTEK.” The transaction includes a $44 million private placement as well as a fully committed PIPE of $66 million from institutional investors. The transaction implies a pro forma enterprise valuation for the combined company of approximately $829 million. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2021.
The Kirkland team was led by corporate partners Matthew Arenson, Michael Weisser and Erika López and associates Justin Joffe, Keli Huang and Ellie Song, capital markets partner Tim Cruickshank and associates Zoey Hitzert, Spencer Caldwell-McMillan and Brandon Stone, tax partners Jared Rusman and Vivek Ratnam, and debt finance partners Judson Oswald and Omar Raddawi.