MERGERS & ACQUISITIONS:

Sartell Valves, Inc.

Sartell Valves, Inc., came to Gray Plant Mooty seeking assistance in its bid to acquire the DeZURIK valve business line from SPX Corporation, a Fortune 500 company. Sartell Valves, a portfolio company of Granite Equity Partners, was created in 2004 when several former DeZURIK executives acquired part of the DeZURIK business from SPX. The 2004 transaction included select DeZURIK products for water and wastewater treatment applications, along with the Sartell headquarters and manufacturing plant. By tapping the resources of Gray Plant Mooty’s Mergers & Acquisitions team, Sartell Valves was able to acquire from SPX all remaining DeZURIK product lines, including industrial valve products that serve a variety of global markets, such as chemical processing, mining, paper, commercial building, and power industries. In addition, the acquisition secured the DeZURIK trademark, patents, patterns, equipment, facilities, contracts, and all Canadian and U.S. operations. Gray Plant Mooty’s Canadian affiliate, Miller Thomson, assisted on key legal transactions in that country.

MERGERS & ACQUISITIONS:

National American University

National American University (NAU) hired Gray Plant Mooty to assist in a proposed merger of NAU with a publicly held, special purpose acquisition company (SPAC). This complex transaction—involving not only a merger but also a going-public transaction—began in earnest in 2008. The deal required approvals from numerous agencies, including the U.S. Department of Education, the Higher Learning Commission, and various education and regulatory bodies. It also required a 70 percent affirmative vote from SPAC shareholders. In addition to these negotiations, Gray Plant Mooty’s Mergers &

Acquisitions and Securities & Corporate Governance teams assisted NAU in preparing all required public company filings with the Securities and Exchange Commission, including a 400 page proxy statement and a 250 page Form 8-K. Through these efforts, both the merger and conversion to public company status were successfully completed on schedule.

GRAY PLANT MOOTY: YEAR IN REVIEW

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