Platinum Equity Completes $2.7 Billion Acquisition of Cision Ltd.

February 11, 2020

Willkie acted as financing legal counsel for Platinum Equity.

On January 31, Platinum Equity completed the acquisition of Cision Ltd. (NYSE: CISN), a leading global provider of cloud-based software, media intelligence and distribution services, and other related professional services to the marketing and PR industry, in a transaction valued at approximately $2.74 billion. Cision is now a privately held company and shares of its common stock are no longer listed on any public market.

The transaction was financed through a combination of (a) borrowings under a $1,750,000,000 term loan credit facility, with a U.S. dollar tranche in the amount of $1,200,000,000 and a Euro tranche in the amount of €500,000,000 and (b) equity financing provided by affiliates of Platinum. Following the closing of the transaction, on February 5, an affiliate of Cision and Platinum Equity issued $300,000,000 aggregate principal amount of 9.50% Senior Notes due 2028, of which the proceeds will be used to pay a dividend to Platinum Equity that will recoup a portion of the cash and equity used the finance the transaction.

Platinum Equity is a global investment firm with more than $19 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries.

The cross-border Willkie deal team that handled the issuance of the notes was led by partners Cristopher Greer and Jennifer Tait. The team that handled the credit facilities was led by partners Joshua Deason, Aymen Mahmoud and Jason Pearl.

Click here to read Willkie’s October 25, 2019 deal announcement.