Avient Corporation (NYSE: AVNT), a leading global provider of specialized and sustainable material solutions, has announced it has completed the previously announced sale of its Distribution business to an affiliate of H.I.G. Capital for US$950 million in cash, with expected after-tax proceeds of approximately US$750 million.
Latham & Watkins LLP represented the private credit providers to H.I.G. in the transaction with a finance team led by New York partners Stelios Saffos and Peter Sluka and Houston counsel Bryce Kaufman, with New York associate Daniel Ovadia. Advice was also provided on tax matters by New York partner Jocelyn Noll, with London associate Ted Gkoo; on environmental matters by Los Angeles/Houston counsel Joshua Marnitz and Houston associate Joseph Kmetz; and on intellectual property matters by New York counsel Carrie Girgenti.