Deal tracker: Paul Weiss, Weil, Kirkland and Allens land roles on key deals
Black & Decker owner agrees to buy car cleaning product company as Iron Mountain acquires Australian data business Recall
April 29, 2015 at 06:44 AM
3 minute read
Kirkland & Ellis and Paul Weiss Rifkind Wharton & Garrison have landed roles on US household product company Spectrum Brands' $1.4bn (£910m) acquisition of car cleaning product manufacturer Armored AutoGroup.
Spectrum's brands include Black & Decker power tools and knife maker Stanley, while Armored AutoGroup owns the Tuff Stuff and Armor All brands.
Armored AutoGroup is taking advice on the deal from Kirkland. The firm's team is being led by three corporate partners in its New York office: Jai Agrawal, Josh Kogan and Dvir Oren.
Paul Weiss is advising Spectrum on the deal, with a team led by corporate partners Steven Williams, Raphael Russo and Eric Goodison.
The transaction, which will be funded by new debt facilities and $500m (£329m) of Spectrum stock, is expected to close at the end of June and has already been approved by the boards of both companies.
Meanwhile, Weil Gotshal & Manges, Sidley Austin, Minter Ellison and Allens have all secured roles on data storage company Iron Mountain's AUS$2.6bn (£1.4bn) acquisition of Australian information management firm Recall Holdings.
The deal saw Australian firm Minters acting as legal adviser to Iron Mountain alongside Weil, which is providing US legal advice.
The Weil team was led by New York corporate partner Michael Aiello and capital markets partner Franks Adams. In addition Washington DC partners Steven Newborn and Laura Wilkinson advised on the antitrust aspects of the deal.
Minter's team is headed by deals chair Costas Condoleon, M&A partner Ben Smith and competition partner Katrina Groshinksi.
Condoleon said: "This transaction has had a somewhat lengthy gestation and the announcement represents an excellent outcome for our client Iron Mountain, and compelling value for Recall shareholders."
Recall Holdings turned to Sidley Austin for US counsel, with Allens advising on the Australian law aspects of the deal.
Sidley fielded a team led by M&A partners Paul Choi and Mike Heinz, alongside antitrust partner Ken Glazer.
Goldman Sachs acted as financial adviser to Iron Mountain with Bank of American and UBS advising Recall.
In December Recall rejected an offer of AUS$7 (£3.6) per share from Iron Mountain saying that the premium was too low.
Boston-based Iron Mountain has more than 1,000 facilities in 36 countries.
Both companies have approved the deal which is subject to shareholder and regulatory approval.
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