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The Hillman Group to Acquire Tagworks
Paul, Weiss client and Oak Hill portfolio company The Hillman Group, Inc. entered into a purchase agreement on March 10 to acquire 100% of the membership interests in TagWorks, L.L.C., the provider of innovative pet ID tag programs to a leading pet products chain retailer using a unique, patent-protected/patent-pending technology and product portfolio.
In conjunction with this transaction, The Hillman Group is entering into a 17-year agreement with KeyWorks-KeyExpress, LLC, a company affiliated with TagWorks, to assign its patent-pending retail key program technology to The Hillman Group and to continue to work collaboratively with Hillman to develop next generation key-duplicating technology.
The closing of this acquisition will occur concurrently with, and is a condition to, the closing of an offering of $50 million in aggregate principal amount of 10.875% senior notes due 2018.
The Paul, Weiss team advising Hillman includes corporate partners Angelo Bonvino, Eric Goodison and John C. Kennedy, and counsel Christopher T. Poggi; tax partner David R. Sicular; intellectual property partner Charles H. Googe Jr.; and real estate partner Mitchell L. Berg.