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Our Private Equity Group provides trusted counsel derived from deep industry knowledge to established as well as up-and-coming private equity firms. We represent firms of every size across the spectrum of investment strategies, and we build long-standing relationships with our clients. As active participants in the private equity industry, we are able to advise our clients on the latest innovations, as well as current market practices and trends.
Paul, Weiss advised Apollo Global Management, LLC in its acquisition of an 80.1 percent interest in Lumileds, a leading supplier of LED components and automotive lighting, from Royal Philips. Royal Philips retained a 19.9 percent interest in Lumileds. The transaction implied an enterprise value of approximately $2 billion. Concurrently with the closing of the transaction, Bright Bidco B.V., which is majority-owned by funds affiliated with Apollo Global Management, LLC, entered into a credit agreement in respect of a $1.15 billion term loan facility and a $200 million revolving loan facility. The proceeds from the term loans were used to fund the acquisition.
The Paul, Weiss team included corporate partners David Lakhdhir, Gregory Ezring and Brad Finkelstein and counsel David Carmona and Wendy Semel; intellectual property counsel Menachem Kaplan; tax partner Brad Okun; international trade counsel Richard Elliott; litigation counsel Peter Jaffe; employee benefits partner Lawrence Witdorchic; and real estate partner Mitchell Berg and counsel Barry Langman.June 30, 2017