Our Finance Group helps clients navigate the business and legal complexities of novel and multidimensional debt financing transactions. We fully understand the challenges faced by borrowers, investors and lenders throughout a company’s lifecycle, from evolving techniques in acquisition finance to the tensions inherent in distressed situations. We are the firm of choice for the most innovative and complex financing matters, including bespoke structured financings and whole-business securitizations of novel assets and restructurings of multibillion-dollar companies.
General Atlantic Credit Finances Transcendia Recapitalization
- Client News
- May 2, 2024
Paul, Weiss is advising General Atlantic Credit, General Atlantic’s dedicated credit investment platform, in its financing support for Transcendia Holdings, Inc.’s recapitalization transaction. General Atlantic Credit’s Atlantic Park Fund will provide a new first lien credit facility in support of the recapitalization and capital infusion led by an investment fund managed by Industrial Opportunity Partners (IOP) and investment funds managed by Goldman Sachs Asset Management.
The transaction will provide Transcendia, a leading manufacturer and converter of custom engineered films, with $114 million in new capital; eliminate more than $200 million of the company's debt; and further strengthen Transcendia's competitive position in the market with additional operating resources. As a result of the transaction, IOP will assume majority ownership of Transcendia, while Goldman Sachs Asset Management, its existing equity sponsor, will maintain a significant minority stake.
General Atlantic Credit’s Atlantic Park strategy provides flexible capital to high-quality companies seeking a strategic partner at various stages of the corporate and economic lifecycle.
The Paul, Weiss team is led by corporate partners Eric Wedel and Matthew Leist, and includes partners Timothy Cruickshank, Conrad van Loggerenberg and Caroline Epstein and counsel Peter Bang and Nathan Mitchell; real estate partner Peter Fisch; intellectual property partner Claudine Meredith-Goujon; tax partner Lindsay Parks; litigation partner John Carlin; executive compensation partner Jarrett Hoffman and counsel Jake Glazeski; and environmental counsel William O’Brien.