Enerflex Ltd.’s Inaugural High‑Yield Senior Secured Notes Offering
October 31, 2022
Cravath represented Enerflex Ltd. in connection with its $625 million inaugural 144A/Reg. S high‑yield senior secured notes offering. Cravath also represented Enerflex in connection with $1.5 billion of committed bank and bridge financing. Proceeds of the financings were used to refinance certain indebtedness in connection with the acquisition of Exterran Corporation, a global systems and process company offering solutions in the oil, gas, water and power markets. Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, covering natural gas processing, compression, power generation, refrigeration, cryogenic and produced water solutions. The acquisition closed on October 13, 2022.
The Cravath team is led by partners Joseph D. Zavaglia and Douglas Dolan, and includes senior attorney Isaac C. Beerman and associates Ori Oren and Mariel V. Mok.
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J.D., 2004, Brooklyn Law SchoolValedictorian, summa cum laude
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B.B.A., 2001, College of Insurancecum laude
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J.D., 2014, New York University School of Lawmagna cum laude
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B.A., 2011, Cornell University
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J.D., 2010, Harvard Law School
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B.A., 2006, University of North Carolina at Chapel HillPhi Beta Kappa, cum laude
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January 24, 2022
Enerflex Ltd.’s Acquisition of Exterran Corporation
On January 24, 2022, Enerflex Ltd. (“Enerflex”), a single source supplier of natural gas compression, oil and gas processing, refrigeration systems and electric power generation equipment, plus related engineering and mechanical service expertise, and Exterran Corporation (“Exterran”), a global systems and process company offering solutions in the oil, gas, water and power markets, announced a business combination to create a premier integrated global provider of energy infrastructure. The companies will combine in an all‑share transaction pursuant to which Enerflex will acquire all of the outstanding common stock of Exterran. The company will operate as Enerflex Ltd. Cravath is representing Enerflex in connection with $1.525 billion of committed bank and bridge financing for the transaction.
