96

Transactions

JULY 2014

Warburg Pincus to acquire

Wencor Group from Odyssey Investment Partners

Legal advisor to Warburg Pincus:

WARBURG PINCUS TO ACQUIRE WENCOR GROUP FROM ODYSSEY INVESTMENT PARTNERS

Warburg Pincus, a leading global private equity firm, has announced it has entered into a definitive agreement whereby one of its affiliates will acquire Wencor Group, LLC (“Wencor” or “the Company”), a leading designer, repair provider and distributor of aftermarket aerospace components, from Odyssey Investment Partners, LLC. Terms of the transaction were not disclosed.

Legal counsel to Wencor Group:

Headquartered in Springville, Utah, Wencor is a market-leading provider of aftermarket components to the commercial, military and general aviation aircraft sectors. Customers include commercial airlines and maintenance, repair and overhaul (“MRO”) providers. The Company’s component design and proprietary repair capabilities allow it to provide lower cost maintenance alternatives to airline and MRO customers for their replacement part and repair needs. Wencor's aftermarket distribution business provides a channel to more than 3,700 customers around the world.

Financial advisor to Wencor Group:

“We are excited to have Warburg Pincus as our partner for the next chapter in the company’s growth given their deep aerospace investing experience and focus on supporting growing businesses. We thank Odyssey for their partnership and support, and we are well positioned to continue to add to our component capabilities to serve the needs of our customers,” said Greg Beason, CEO of Wencor Group. LM

This announcement appears as a matter of record only

Paragon Partners acquires stake in Wetbild

Advisors to Paragon Partners:

Paragon Partners acquires stake in Wetbild

Munich-based Paragon Partners has signed a preliminary agreement with insolvency administrator Arndt Geiwitz to take a majority stake in troubled publishing group Weltbild.

The German media has reported that Paragon has taken a 51% stake in the company for €20m. Further details on the restructuring policy are expected to be finalised by the end of the month, with Arndt Geiwitz remaining a minority shareholder in the company.

The liquidator, who represents all of Weltbild's creditors, contacted numerous parties in order to secure an investor for the entirety of Weltbild's operation, including both local stores in Germany, the holding company and subsidiary operations in Austria and Switzerland. Paragon's offer will enable the group to continue as a whole.

Advisor to Webild:

Both Paragon and Geiwitz aim to advance the redevelopment of the group and return it to a stable footing. The shareholders are in talks to create a new company to which Weltbild employees will be transferred. The buyer stated that it has been buoyed by the constant demand from loyal customers in recent months and is aiming to build on this core consumer base by taking advantage of e-commerce growth opportunities. LM

This announcement appears as a matter of record only www.lawyer-monthly.com

Wetbild

Wencor Group