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Latham Advises on Financings to Support Blackstone’s Completed Acquisition of Majority Stake of Copeland, Formerly Emerson Climate Technologies

June 5, 2023
Banking and capital markets team represents banks, lead arrangers, and initial purchasers in transaction valuing business at US$14 billion.

Latham & Watkins advised consortiums of banks, lead arrangers, and initial purchasers on term loan, senior secured notes, and ABL financings supporting Blackstone-managed private equity funds’ completed acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at US$14.0 billion.

Latham banking partners Paul Bonewitz, Gene Mazzaro, and Conray Tseng, counsel Seung-Ju Paik, and associates Victor Ludwig, Sam Chaturvedi, Julio Martinez Rivas, Sharon Yin, Ana Nunez Cardenas, and Jack Klein represented the lenders and lead arrangers in a US$2.275 billion syndicated term loan B facility, a US$700 million cross border asset-based revolving facility and a US$450 million term loan A facility, and Latham capital markets partners Erika Weinberg and Andrew Baker and associates Sara Johnson and Sofia Sitterson represented the initial purchasers in an offering of US$2.275 billion senior secured notes and €455 million senior secured notes.