RBC, Barclays and Other Major Financial Institutions To Provide Financing for Permira's Acquisition of Diversitech

April 20, 2017

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented RBC Capital Markets, Barclays, Deutsche Bank, and Societe Generale as lead arrangers for the financing to be provided in connection with Permira's acquisition of DiversiTech, an aftermarket manufacturer and supplier of highly engineered components for residential and light commercial HVAC and refrigeration. The proposed financing includes a $325 million first lien term loan, a $120 million second lien term loan, and a $50 million revolving credit facility. The transaction is expected to close in the second quarter of 2017.

Leveraged Finance partners Michael Baker, John Cobb, Michele Cohen and Randal Palach led the Paul Hastings team, along with of counsel Marisa Sotomayor and associates Jared Bryant, Danny Choi, Jason Ewart and Maciej Zielnick.

The Paul Hastings Leveraged Finance team consists of more than 100 lawyers focusing on key markets across Asia, Europe, Latin America, and the U.S. Our lawyers advise many of the largest and most sophisticated financial institutions around the world. Paul Hastings is among a small number of firms that can be relied upon to handle complex deals involving numerous parties. The Leveraged Finance team recently advised on several high-profile deals, including the US$2.4 billion financing for MacDonald, Dettwiler and Associates’ acquisition of DigitalGlobe Inc., the US$5.1 billion financing for Bass Pro Shops’ acquisition of Cabela’s Incorporated, the US$1.9 billion financing for Gulf Oil, the US$442.5 million first lien credit facility for XIO Group’s acquisition of J.D. Power and Associates, and the US$535 million refinancing of existing credit facilities and dividend recapitalization for Vivid Seats LLC.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.