Kirkland Advises Wacona Capital on Close of $210 Million Continuation Vehicle

Kirkland & Ellis advised private equity firm Wacona Capital, LLC, on the close of a single-asset continuation vehicle for Core States Group, a leading engineering, architectural and design services firm, with total commitments of approximately $210 million, including commitments from the general partner. Founded in 1999, Core States Group offers integrated solutions that support national multisite renovation and remodel programs primarily for Fortune 500 and Fortune 100 clients across North America. The transaction allows Wacona to continue its sponsorship of Core States Group and its partnership with the company’s best-in-class executive leadership team, while providing liquidity to its existing investors. The continuation vehicle was led by Painswick Capital, with participation from a syndicate of leading institutional investors.

The Kirkland team included corporate lawyers Eric Fischer, Martin DiLoreto, Nicholas DiCrescenzo, Karen Flanagan, Daniel Grove, Brandan Matthews, Blake Sims, Lee Smith, James Steiner, Andrew Gershon; Cole Halpen and Michael Chu; and tax lawyers Roger Lucas and Natalie Kannan.