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Vision Capital Completes Acquisition of Terphane
On September 29, Paul, Weiss client Vision Capital Partners VII LP completed its acquisition of all the shares of the operating subsidiaries of Terphane Holding Corporation. The transaction, a foreclosure sale by the seller's bondholders, includes Terphane Acquisition Corp, a Cayman company that owns a leading Brazil-based manufacturer of specialty polyester films, and its New York-based sister company, for total consideration of approximately $124 million, including debt in the acquired companies.
The Paul, Weiss team included, among others, corporate partners David Lakhdhir and Kelley Parker; tax partner Jeffrey Samuels; employee benefits partner Lawrence Witdorchic; and real estate partner Mitchell Berg.