Waterjet Holdings, Inc.’s High‑Yield Senior Secured Debt Offering

Cravath represented the initial purchasers, Goldman, Sachs & Co. and Morgan Stanley, in connection with the US$225 million 144A/Reg. S high‑yield senior secured debt offering of Waterjet Holdings, Inc., a leading designer and manufacturer of waterjet cutting systems. Proceeds of the offering were used to finance the acquisition of Flow International Corporation. Waterjet Holdings, Inc. is a portfolio company of private equity sponsor American Industrial Partners. The transaction closed on January 31, 2014.

The Cravath team included partner D. Scott Bennett and associates William D. Podurgiel and Samantha J. Reitz.