New York, August 31, 2015 – Hughes Hubbard & Reed announced today that it represented client ITT in its acquisition of Wolverine Automotive Holdings Inc., the parent company of Wolverine Advanced Materials LLC.
Partner and co-chair of Hughes Hubbard’s M&A practice Kenneth A. Lefkowitz led the deal team, which also included: counsel Erin E. DeCecchis (executive compensation and employee benefits) and Ross Lipman (real estate); and associates Matthew J. Syrkin (corporate), Carol Remy (real estate), Justin S. Cohen (tax), Emily Nordin (corporate), Ariel B. Roth (executive compensation and employee benefits) and Taylor Reynolds (real estate).
The deal, which is valued at approximately $300 million, free of debt, will be funded from ITT’s cash and revolving credit facility. It is expected to close in the fourth quarter of 2015.
Wolverine will strengthen ITT's global position while expanding its material science expertise and global growth opportunities.