McDermott Will & Emery advised Speyside Equity in the sale of a majority stake in portfolio company United Initiators GmbH, and a minority stake in portfolio company Sweet Ovations, to Vision Capital, the law firm announced Wednesday. Vision Capital is based in London. Terms were not released.
International law firm McDermott Will & Emery advised Speyside Equity in the sale of a majority interest in its portfolio company United Initiators GmbH & Co KG (UI), and a minority stake in its portfolio company Sweet Ovations LLC to Vision Capital. Under the terms of the agreement, Speyside will remain actively involved in both businesses, working alongside Vision Capital to support continued organic growth and potential acquisitions for both United Initiators and Sweet Ovations.
Speyside Equity, a private equity firm, invests in traditional businesses with a history of profitability and ability to generate sustainable liquid cash flows with a particular focus on complex carve-outs of multinational businesses in the industrials sector.
United Initiators, based in Pullchach, Germany, is a leading specialty chemical business focused on the manufacture of persulfates and organic peroxides, with operations in Germany, the United States, China and Australia. Sweet Ovations, based in Langhorne, Pennsylvania, is a leading supplier of custom formulated food ingredients to North American food companies.
Vision Capital, based in London, buys companies, mainly in whole portfolios, from organizations that wish to exit from their investments or divest subsidiaries for strategic reasons.
“This transaction exemplifies McDermott’s cross-border M&A capabilities with our partners collaborating seamlessly in our U.S., Munich, Brussels and MWE China offices to successfully close a complex multinational deal,” observed Thomas Sauermilch, a New York-based Corporate partner who led the transaction.
In addition to Mr. Sauermilch, the cross-border McDermott team was co-led by New York Corporate partner, Joel Rubenstein along with Munich-based partner Christian von Sydow and Carsten Böhm. The team also included partners Brussels-based Competition partner Martina Maier, Shanghai-based MWE China Law Offices Managing Partner John Huang, and Munich-based partner, Paul Beauregard, Chicago-based partners Gary Karch and Daniel Zucker. The transaction also included the assistance of associates Neil Reddy, Harold Davidson, Laura Olch, Christopher Lopreste, Anja Kiewit, Sylvia Petereit, Chris Mou and Patrick McCurry
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Düsseldorf, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Silicon Valley and Washington, D.C. Extending our reach to Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.