Akin Gump Advises Apollo Global Management in Buyout of Constellis
(New York) – Constellis, a leading provider of operational support and risk management services, announced it has entered into a binding agreement for a management-led buyout of Constellis by a consortium of investors. This consortium will be headed by affiliates of certain funds managed by affiliates of Apollo Global Management, LLC. It is expected that the consortium of investors also will include Forte Capital, Manhattan Partners and a group of existing co-investors. Terms of the deal, for which Akin Gump advised Apollo, were not disclosed.
The transaction is conditioned on customary regulatory reviews and approvals and is expected to close prior to the end of the third quarter. Holders of more than a majority of Constellis’s 9.750% Senior Secured Notes have committed to consent to a waiver of the change in control put provisions of such notes, which will allow them to remain outstanding after the transaction.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
# # #