Kirkland & Ellis advised Yucaipa Acquisition Corporation (NYSE: YAC), a publicly-traded special purpose acquisition company led by Chairman and President Ron Burkle and CFO and COO Ira Tochner, on its business combination with SIGNA Sports United, a leading global sports e-commerce and tech platform. The combination also includes the acquisition of the WiggleCRC Group, the second-largest online bike retailer globally, currently owned by Bridgepoint. The combination has an implied enterprise value of approximately $3.2 billion and encompasses a fully committed upsized PIPE of approximately $300 million. The combined entity will become the world's largest pure-play sports e-commerce and technology platform company. Upon completion of the transaction, which is subject to customary closing conditions, the combined company will trade on the NYSE under the SIGNA Sports United name. The transaction is expected to close in the second half of 2021.
The Kirkland team was led by corporate partners David Feirstein and Marshall Shaffer and associate Jennifer Gasser and capital markets partner Christian Nagler. The team also included corporate partner Achim Herfs and associates Sebastian Haefele, Giorgia Nagalli and Lena Yoon and capital market partner Aslam Rawoof and associates Pratik Das and Enid Qin.