Vinson & Elkins represents Nexeo Solutions of The Woodlands in its pending acquisition by WL Ross Holding Corp. in a deal valued at $1.575 billion. Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom represent WL Ross, a special purpose acquisition company formed by WL Ross & Co. of New York.
On March 21, Nexeo Solutions, a chemical and plastics distribution company, announced a merger agreement with WF Ross Holdings. With the transaction, which is valued at $1.575 billion, Nexco Solutions will become a wholly-owned subsidiary of WL Ross Holding. After the merger, WL Ross Holding will change its name to Nexeo Solutions. TPG, a private equity firm that is currently the majority owner of Nexeo Solutions, will retain about 35 percent of the new company.
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