Latham & Watkins advised consortiums of banks and direct lenders on ABL, term loan A and direct term loan B financings in a novel financing structure supporting Blackstone’s acquisition of a majority stake in the Climate Technologies business of Emerson Electric (NYSE: EMR), in a transaction valuing Climate Technologies at US$14.0 billion.
Latham represented the lenders in the financings with a team led by New York partners Paul Bonewitz, Gene Mazzaro, Daniel Seale, and Conray Tseng.
ABL Revolver and Term Loan A
Latham represented the lenders in the ABL Revolver and Term Loan A financings with a team led by New York partners Eugene Mazzaro and Conray Tseng. The team also included New York partners Michèle Penzer, Melissa Alwang, Alfred Xue, and Abhay Lele, Los Angeles partners Andrew Faye and Jeff Senac, Houston partner Pamela Kellet, and New York counsel Clever Gallegos and Marcela Ruenes, with associates Victor Ludwig, Josh Chao, Brianna Oller, Julio Martinez Rivas, Hyunji Lee, Sam Chaturvedi, Yekaterina Fomitcheva, and Ana Núñez Cárdenas.
Private Term Loan
Latham represented the direct lenders in the Term Loan B financing with a team led by New York partner Daniel Seale. The team also included New York partners Jesse Sheff, Nicole Fanjul, Stelios Saffos, Peter Sluka, and Paul Bonewitz, Los Angeles partner Josh Holt, Houston partner Trevor Wommack, New York counsel Seung-Ju Paik, and Houston counsel Bryce Kaufman, with associates Jonathan Goldberg, JC Olivares, Maciej Zielnik, Michelle Synhorst, Lillian Xiao, Jenn Dweck, and Aditi Sharma.
Advice was provided on corporate matters by New York partners Andrew Baker and Abhay Lele, with associates Gemma Mootoo-Rajah, John Slater, and Sara Johnson; on tax matters by New York partner Jiyeon Lee-Lim, with associate Claire Park; on benefits & compensation matters by New York partner Bradd Williamson, with associate Madeline Hong; on environmental, land & resources matters by New York counsel David Langer, with associate Jim Lambert; on real estate matters by New York counsel Shira Bressler; on OFAC matters by associate Matthew Gregory; on FCPA matters by Washington, D.C. partner Joseph Bargnesi; on intellectual property matters by associate Dewey Kang; and on litigation matters by Boston counsel Steven Pacini, with associate Samuel Townsend.