Debevoise & Plimpton LLP is advising American Securities LLC (“American Securities”) and P2 Capital Partners, LLC (“P2 Capital Partners”) in a transaction in which affiliates of American Securities and P2 Capital Partners have agreed to acquire Blount International, Inc. (“Blount”) in an all-cash transaction valued at approximately $855 million, including the assumption of debt. Under the terms of the proposed transaction, Blount shareholders will receive $10.00 in cash for each share of Blount common stock they hold.
Blount is a global manufacturer and marketer of replacement parts, equipment, and accessories for consumers and professionals operating primarily in two market segments: Forestry, Lawn, and Garden (“FLAG”); and Farm, Ranch, and Agriculture (“FRAG”). The proposed transaction is expected to close in the first half of 2016, subject to the approval by Blount’s shareholders and regulatory authorities and the satisfaction or waiver of customary closing conditions.
American Securities is a leading U.S. private equity firm with approximately $15 billion under management. Based in New York with an office in Shanghai, American Securities invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $200 million of EBITDA.
P2 Capital Partners is a New York-based investment firm that applies a private equity approach to investing in the public market. P2 Capital Partners manages a concentrated portfolio of significant ownership stakes in high quality public companies in which it is an active shareholder focused on creating long-term value in partnership with management.
The Debevoise team is led by partner Andrew L. Bab and includes partners Gary M. Friedman, Scott B. Selinger and Elizabeth Pagel Serebransky, counsel Kyra K. Bromley, Erich O. Grosz, Brandon C. Gruner and Stuart Hammer, international counsel Timothy McIver, and associates Tarik A. Elhussein, Victoria Gokhman, Anne-Mette Heemsoth, Michelle M. Hillenbrand, Douglas M. Hirn, Adam M. Namm, Andrew C. Rearick, Ali Sikander, Claire Hansen Suni, Patricia Teixeira and Oleg S. Zakatov.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.