© 2015 The Texas Lawbook.
By Natalie Posgate
(March 21) – Fort Worth-based TPG Capital said Monday it would sell its Woodlands-based chemical and plastics portfolio company, Nexeo Solutions Holdings, to WL Ross Holdings Corp. (WLRH) for $1.67 billion.
Texas lawyers from two firms, Kirkland & Ellis and Vinson & Elkins, advised the parties.
Kirkland represents WLRH, a special purpose acquisition company sponsored by WL Ross Sponsor and run by billionaire Wilbur Ross. Houston corporate partners Andy Calder and William Benitez led the Kirkland team, which also included debt finance partner Lucas Spivey and attorneys from the firm’s New York office.
A primarily Palo Alto-based team from Skadden Arps Slate Meagher & Flom also advised WLRH on the deal.
TPG and Nexeo turned to Houston M&A partner Keith Fullenweider and associate Lande Spottswood of Vinson & Elkins to lead their end of the deal. The full V&E deal team was predominantly based in the firm’s Houston and Dallas offices and the attorneys advised on capital markets, tax, finance, employee benefits, environmental, antitrust, real property and labor issues.
The full deal team included partners Sarah Morgan, John Lynch , David D’Alessandro, Larry Nettles and Tom Wilson; counsel Larry Pechacek; and associates Lina Dimachkieh, Shamus Crosby, Scott Rubinsky, Claire Campbell, Jessica Lewis, Yong Eoh, Will White, James Melchers, Regina Ibarra, Katherine Mull, Alex Farr, Steven Oyler, Matthew Dobbins, David Smith, Will Russ and Nick Buehner. Attorneys from the firm’s New York, London and Washington, D.C. offices also advised on the transaction.
Fullenweider isn’t new to representing TPG. Two years ago, he led the PE firm’s $1.8 billion purchase of Wyoming natural gas properties from Encana Oil & Gas (USA).
When the current deal closes, likely in the second quarter of this year, WLRH will change its name to Nexeo Solutions, Inc.
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