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The Paul, Weiss Bankruptcy & Corporate Reorganization Department serves as a critical advisor in almost every major, complex restructuring matter, helping companies, creditors and investors facing rapid market transformation respond to business challenges with comprehensive and innovative strategies. Diversity of matters and clients, senior-level attention and seamless delivery of multidisciplinary services distinguish the practice.

KKR Completes Acquisition of Angelica Corporation

Paul, Weiss represented KKR in its $160 million acquisition of Angelica Corporation, a medical laundry services provider, via a combined credit bid and cash. KKR executed the transaction through a court-supervised sale process pursuant to section 363 of the Bankruptcy Code; the U.S. Bankruptcy Court for the Southern District of New York approved the sale on June 23. Under KKR's ownership, the business will retain the Angelica name and continue to be the leading provider of linen services to the healthcare industry, serving more than 3,800 hospitals, clinics and long-term care facilities across the country.

The Paul, Weiss team included bankruptcy partners Brian Hermann and Alan Kornberg and counsel Lauren Shumejda and Diane Meyers; corporate partner Catherine Goodall and counsel Ji Lu; employee benefits partners Robert Fleder and Andrew Gaines and counsel Uri Horowitz and Reuven Falik; tax partner Scott Sontag; real estate partner Peter Fisch; intellectual property partner Chuck Googe; environmental counsel William O’Brien; and litigation partner Andrew Gordon.

June 11, 2017

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