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JPW's High‑Yield Senior Secured Notes Offering

Cravath represented the initial purchasers, led by Goldman Sachs & Co. LLC and BMO Capital Markets, in connection with the $220 million 144A/Reg. S high‑yield senior secured notes offering of JPW Industries Holding Corporation (“JPW”). Proceeds of the offering were used to finance the acquisition of Varnsen Industries Holdings S.à r.l (“Varnsen”) by a holding company controlled by Gamut Capital Management, L.P. Varnsen is the indirect parent of JPW, a leading designer, marketer and distributor of branded metalworking and woodworking equipment and specialty shop tools. The acquisition was backstopped by a senior secured bridge facility commitment also led by Goldman Sachs. The transaction closed on September 22, 2017.

The Cravath team included partners LizabethAnn R. Eisen, Joseph D. Zavaglia and D. Scott Bennett and associates Douglas C. Dolan, Trevor C. Lynch, Sean M. Linnehan, Zachary L. Profant, Rebecca D. Stacker and Tyler J. Cook.