SourceHov Completes Combination with Novitex and Exela

July 13, 2017

The merger creates one of the largest global providers of transaction processing and enterprise information management solutions serving over 3,500 clients.

On July 12, Willkie client SourceHOV Holdings, Inc. completed its previously announced combination with Novitex Holdings, Inc. and Exela Technologies, Inc., formerly known as Quinpario Acquisition Corp. 2, to become one of the largest global providers of transaction processing and enterprise information management solutions serving over 3,500 clients, including more than 60% of the Fortune® 100. Exela, which is majority-owned by funds affiliated with HandsOn Global Management, LLC and funds affiliated with Apollo Global Management, LLC also announced the completion of the transaction financing through the issuance of $1 billion aggregate principal amount of secured notes, a $350 million secured term loan facility, and a $275 million private placement of equity.

The multidisciplinary Willkie deal team included: Corporate -- partners Maurice Lefkort, Jon Lyman and Sean Ewen and associates Erin Kinney, Alexis Anzelone and Andrew Marmer; Structured Finance -- partner Thomas French, counsel Cindy Chernuchin and associates Michael Ispass and Douglas Hollins; Bank Financing -- partners Michael Zinder and Joshua Deason and associates Shira Silver and Eric Neidle; 144A Financing -- partner Cristopher Greer; Tax -- partner Christopher Peters and associate Robert Larimore; Benefits -- partner Jordan Messinger and associates Rose Ohanesian and Sherrone Ricks; and Litigation -- partner Jeffrey Korn.

Read Willkie’s February 21, 2017 deal announcement.