Hughes Hubbard & Reed advised Kenner & Co. in connection with the $1.1 billion acquisition by it and Swiss investment management firm Partners Group of a controlling stake in Dynacast International.
Kenner & Co., an existing shareholder, is rolling over significant equity stakes into the transaction, which was announced on Dec. 17. Partners Group will replace several investors in Dynacast as they exit the company, including Izurium Capital Management and W Capital Partners. Following the close of the deal, expected in February, Partners Group and Kenner & Co. will work with Dynacast's management team.
Hughes Hubbard also advised Kenner & Co. when it led a consortium of investors to acquire Dynacast in July 2011 for $590 million from Melrose PLC, a British private equity firm that specializes in underperforming manufacturing businesses.
Dynacast, based in Charlotte, N.C., makes small metal parts used in automotive, consumer electronics, health care, hardware, computers and other products. The company operates 23 manufacturing facilities in 16 countries.
Based in New York, Kenner & Co. is a private equity firm founded in 1986 that specializes in acquiring middle-market industrial and manufacturing businesses.
The deal made headlines in Reuters, Dow Jones, Law360 and other news outlets.
Chuck Samuelson led the Hughes Hubbard team, which included Jim Bluck, Alex Anderson, Melissa Duffy and Erin DeCecchis.