Transportation

We represent a wide cross-section of the transportation industry, including passenger and freight rail, passenger and freight shipping lines, trucking companies, limousine fleets, highway service operators, and private equity funds and other investors in the industry.

We represent a wide cross-section of the transportation industry, including passenger and freight rail, passenger and freight shipping lines, trucking companies, limousine fleets, highway service operators, and private equity funds and other investors in the industry.

Business Reorganization and Restructuring

  • Carey Limousine L.A., Inc.: Represented the U.S. subsidiary of one of the world’s leading providers of chauffeured transportation services in its chapter 11 case. We assisted Carey in the negotiation and documentation of a plan of reorganization that incorporated a settlement of material litigation and was accepted by 100 percent of every voting class of creditors.

    Rural/Metro Corporation: Represented ambulance company Rural/Metro Corporation, a Warburg Pincus portfolio company, and 65 of its affiliates, in expedited negotiations with its senior lenders and noteholders that led to the confirmation of their prenegotiated chapter 11 plan of reorganization less than five months after its chapter 11 filing.

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Capital Markets

  • Faiveley Transport: Represented Faiveley Transport, leading worldwide supplier of high-tech components for rail systems in the following transactions:

    • a €350 million refinancing facility, consisting of a five-year, amortizing loan of €225 million and a multi-currency revolving facility of €125 million.
    • a $75 million bond issue through a private placement comprised of two tranches: a $30 million tranche with a 10-year final maturity, redeemable between 2017 and 2022; and a $45 million tranche of bullet loans with a 10-year maturity.

    Platinum Equity and SPL Logistics Escrow, LLC and SPL Logistics Finance Corporation: Represented Platinum Equity and SPL Logistics Escrow, LLC and SPL Logistics Finance Corporation in connection with the offering of $450 million in senior secured notes. The proceeds of the offering by the SPL entities were used, together with a cash equity investment by Platinum, to purchase a 65 percent interest by Platinum in the third-party logistics services business of Caterpillar, Inc. Caterpillar retained a 35% interest in the business. At closing, SPL Logistics Escrow merged with and into Caterpillar Logistics Services LLC and a $60 million revolving credit facility was put in place.

    TUI AG: Represented TUI, the German multinational travel and tourism company, on its convertible bond issue, placed by HVB, Citi and Deutsche Bank.

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Mergers & Acquisitions, PE & VC Investments, Joint Ventures and Other Business Combinations

  • BMO Capital Markets/Hennessy Capital/School Bus Holdings: Represented BMO Capital Markets as the financial advisor of Hennessy Capital Acquisition Corp., in its acquisition of School Bus Holdings, Inc., an indirect parent company of Blue Bird Corporation.

    Butler Capital/Mory and Sernam: Represented Butler Capital in connection with asset dispositions relating to logistics providers Mory and Sernam.

    Captain Train/Trainline: Represented Captain Train in its acquisition by KKR portfolio company Trainline, combining the #1 independent rail ticket retailers in the UK and Continental Europe.

    Castik Capital/inet, GmbH Austria: Represented Castik Capital in the acquisition (by funds advised by Castik Capital) of a majority stake in inet, GmbH Austria, an SaaS provider of transportation management systems, from the international transportation and logistics company Gebrüder Weiss.

    Castik Capital/Transport Services Unit of Wolters Kluwer: Represented Castik Capital in its acquisition of the Brussels-based transport services unit of Wolters Kluwer, a leading player in transportation management software and freight exchange solutions.

    CEPL/ID Logistics: Advised CEPL shareholder Arcapita in the contemplated restructuring and subsequent sale of CEPL to ID Logistics.

    CMA CGM/CEVA Logistics: Represented CMA CGM in its agreement to acquire a 25% stake in CEVA Logistics AG, a global leading player in the logistics sector, reinforcing its presence in the logistics sector.

    CMA CGM/EQT Infrastructure III/APL Limited: Represented CMA CGM in the sale to the EQT Infrastructure III fund of a 90 percent stake in APL Limited, whose wholly owned subsidiary, Eagle Marine Services, Ltd., operates Global Gateway South, a leading container terminal in the Port of Los Angeles.

    CMA CGM/LCL Logistix: Advised CMA CGM in the acquisition via its freight forwarding subsidiary of a strategic stake in LCL Logistix, a leading Indian logistics company.

    CMA CGM/Mercosul Line: Represented CMA CGM in its acquisition of Mercosul Line from Maersk Line.

    CMA CGM/Neptune Orient Lines: Advised CMA CGM in its agreement to acquire Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company, from majority shareholder Temasek and affiliates.

    CMA CGM/Terminal Link/CMHI: Advised CMA CGM in the sale of a 49% stake in its wholly owned subsidiary Terminal Link to China Merchants Holdings International (CMHI), the largest public port operator in China.

    Encompass/Surf Air: Represented Encompass Aviation in its sublease of all 12 of Surf Air’s PC-12NG aircraft and assumption of the company’s aircraft operations and management in California.

    Excel Maritime Carriers/ Star Bulk Carriers: Represented the Transaction Committee of the Excel Board of Directors in the sale of 34 vessels to Star Bulk Carriers for $288 million and 29.9 million shares of Star Bulk Carriers stock, valued in the aggregate at $634.91 million. Represented Angelo Gordon & Co in a $231 million secured bridge loan facility to Star Bulk Carriers.

    GSM Maritime Holdings/Logistec Corporation: Represented GSM Maritime Holdings, LLC, a portfolio company of client The CapStreet Group, in GSM’s sale to Logistec Corporation.

    Insight Venture Partners/BlaBlaCar: Represented this leading private equity and venture capital firm in connection with a $200 million investment round in BlaBlaCar, the world’s largest long-distance ridesharing community.

    ITT Corporation/Axtone Group: Represented ITT Corporation in the approximately $118 million acquisition of Axtone Group.

    Macquarie Capital/American Express: Represented Macquarie Capital as part of an investor group in the $900 million investment into the joint venture for American Express’ Global Business Travel division, in exchange for 50% ownership.

    Oaktree Capital/Groupe SAF: Represented Oaktree Capital in its agreement to acquire a significant minority stake in Groupe SAF, a major provider of helicopter services.

    PAI Partners/WFCI: Advised PAI Partners in its acquisition, alongside Baring Private Equity Asia, of World Freight Company International, the global leader in the General Sales and Service Agent market, from Greenbriar Equity Group.

    Raben Group/Wincanton plc: Represented the Raben Group in the acquisition of the pan-European road transportation business from Wincanton plc.

    Ryder TRS/Budget Group: Represented Ryder, the second largest consumer truck rental company in the United States, in its acquisition by Budget.

    Safe Fleet/Elkhart Brass Manufacturing Company, Inc.: Represented Safe Fleet, a portfolio company of The Sterling Group, in its acquisition of Elkhart Brass Manufacturing Company, Inc., the industry's leading manufacturer of innovative firefighting and fire protection equipment.

    Safe Fleet/Hadley’s Transit Mirror: Represented Safe Fleet, a portfolio company of The Sterling Group, in its acquisition of the transit mirror product line for buses, shuttles and coaches from Hadley.  

    Star Bulk/Oceanbulk/Monarch:  Represented Monarch Alternative Capital LP, a significant shareholder of Star Bulk Carriers Corp,. in Star Bulk’s deal to acquire Oceanbulk Shipping LLC and Oceanbulk Carriers LLC, creating the largest U.S.-listed dry bulk company.

    The Sterling Group/ROM: Represented The Sterling Group in its acquisition of ROM Corporation and Specialty Manufacturing, Inc., manufacturers of safety and productivity components for the emergency vehicle, truck and trailer, and bus markets.

    Swissport Group/GH Team: Advised Swissport Group on the sale of its ground handling activities in France to GH Team.

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Other Significant Matters

  • CMA CGM: Represented CMA CGM in several antitrust investigations before the European Commission and national antitrust authorities.

    CMA CGM: Represented CMA CGM in obtaining EC approval for its acquisition of OPDR.

    French A63 Toll Road: Advised the lenders in the refinancing of the French A63 toll road (between Gironde and Landes), which involved a €860 million credit facility with a 25-year maturity made available to Concessionaire Atlandes.

    SSA Marine: Advised SSA Marine, a subsidiary of Carrix, Inc., in its joint venture with Cloud Peak Energy to pursue the development of the Gateway Pacific Terminal, located in the Northwest corner of Washington State; the Gateway Pacific Terminal is a planned 54 million metric ton, dry bulk, deep water export terminal designed to handle commodities such as coal, grain, and potash and will be the only U.S. Pacific Northwest terminal with natural deep water accommodating cost saving cape size bulk vessels.

    STX France: Advised STX France in connection with the shipbuilding contracts and construction financing of three LNG-fuelled cruise ships ordered by MSC Cruises. 

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