TDR Completes Secondary Offering of Shares in Target Hospitality

Paul, Weiss advised TDR Capital LLP as a selling stockholder in a secondary public offering of shares of its portfolio company Target Hospitality Corp., one of North America's largest providers of vertically integrated modular accommodations and specialty hospitality services. The offering resulted in total net proceeds of approximately $107 million to TDR, which now holds a 56.8% stake in Target Hospitality. Morgan Stanley and Deutsche Bank acted as lead bookrunning managers for the offering.

The Paul, Weiss team was led by corporate partners Christopher Cummings and Will Aitken-Davies, and included partner Matthew Wilson.