© 2013 The Texas Lawbook.
By Mark Curriden, JD
Senior Writer for The Texas Lawbook
(June 25) – Lone Star Funds, a Dallas-based private equity firm with more than $33 billion in assets, is purchasing North American Gypsum for $700 million in a deal that took only a couple weeks to negotiate and sign.
Paris-based Lafarge SA, which is the world’s largest cement maker, agreed to sell its US gypsum business, which manufactures gypsum wallboards and joint compounds in plants in the U.S. and Canada.
Lone Star turned to Jeff Chapman, an M&A partner at Gibson, Dunn & Crutcher in Dallas, to lead the transaction.
Chapman has advised Lone Star in a handful of previous deals. Last month, he represented Bi-Lo Holdings, a Lone Star portfolio company, in the $265 million acquisition of substantially all the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize Group. Last year, he advised Bi-Lo in its acquisition of Winn Dixie. And Chapman advised Lone Star when it decided to take its Del Frisco’s restaurants public.
Other Gibson Dunn lawyers working on the deal include Dallas corporate associates Jonathan Whalen and Caitlin Peterson. Dallas labor and benefits partner Karl Nelson and associate Krista Hanvey also played a significant role.
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