Corporate and Transactions

Looking Ahead: What to Expect in 2023

The past year has been a challenging and exciting time for business transactions, as supply chain difficulties, lingering effects of the COVID-19 pandemic, tumultuous world events and pronounced market shifts brought both obstacles and opportunities.  Through it all, Carter Ledyard’s Corporate team helped clients meet their business objectives and bring transactions to successful conclusion in a complex and ever-changing deal landscape. Our broad experience, nimble approach and persistent pursuit of favorable solutions for our clients helps give them the reassuring stability they need while pursuing opportunities and guarding their backs in good times and bad.  We look forward to the coming year and our continued relationships with clients and friends as we all look toward growth.

Client Highlights

• Carter Ledyard Client CooperVision Completes Acquisition of SynergEyes
  Carter Ledyard client CooperVision, Inc. completed its acquisition of SynergEyes, Inc. and its broad range of specialty contact lenses, including proprietary hybrid lenses, which complement CooperVision’s Onefit™ scleral lenses. The acquisition broadens CooperVision’s already extensive product and service range to create a complete portfolio for the treatment of keratoconus and irregular cornea. 
• Carter Ledyard Client Greenfire Resources Inc. and M3-Brigade Acquisition III Corp. Announce $950 Million Business Combination
  Carter Ledyard represented longtime client Greenfire Resources Inc. in a definitive agreement for a business combination with M3-Brigade Acquisition III Corp. (NYSE: MBSC), a New York Stock Exchange listed special purpose acquisition.
• Bank of New York Mellon Serves as Trustee in Connection with the Issuance of $1.6 Billion of Puerto Rico Highways and Transportation Authority Obligations
  Carter Ledyard represented to The Bank of New York Mellon, as Trustee under the Master Trust Agreement dated as of December 6, 2022, as supplemented by the First Supplemental Trust Agreement and the Second Supplemental Trust Agreement.
• Carter Ledyard Represents Trinity Biotech in its $45 Million Strategic Investment and Partnership with MiCo Group
  Carter Ledyard represented long-time client, Trinity Biotech plc (Nasdaq: TRIB), a leading global diagnostic company, in the Company’s $45 million strategic investment and partnership with MiCo Ltd (“MiCo”) that closed on May 3, 2022.
• The Capri Family Foundation Completes its Acquisition of Optibase Ltd.
  The Capri Family Foundation, a Carter Ledyard client, successfully completed its going-private tender offer to acquire Optibase Ltd. (formerly Nasdaq: OBAS) for $12.64 per share in cash.
• Carter Ledyard Client Global SC Finance VIII SRL Completes Term Loan Agreement
  Our client, Global SC Finance VIII SRL entered into a Term Loan Agreement with PNC Bank, National Association as Administrative Agent and PNC Capital Markets LLC as Structuring Agent. Global SC Finance VIII SRL is a wholly owned subsidiary of Seaco SRL, one of the world’s leading marine container leasing companies.
• Carter Ledyard Represents Stone Source in Its Acquisition by Platinum Equity Portfolio Company
  New York-based Stone Source was acquired by Platinum Equity portfolio company Paramount Global Surfaces (“PGS”). Carter Ledyard & Milburn LLP represented Stone Source, a distributor of natural stone, ceramic tile and other decorative surfaces to contractors and consumers, and its sellers, led by private equity fund Founders Equity.
• Carter Ledyard Client Pacific Current Group Purchases 35% Stake in Banner Oak Capital Partners
  Client, Pacific Current Group (“PAC”), a multi-boutique asset management firm, acquired a 35% stake in Banner Oak Capital Partners (“Banner Oak”) from its existing owners.
• Carter Ledyard Advises Client CENAQ Energy Corp., a Newly Organized Blank Check Company, in Its $150 Million Initial Public Offering on NASDAQ
  CENAQ Energy Corp., a special purpose acquisition company focused on energy and energy transition, in connection with aspects of its business combination with Bluescape Clean Fuels Intermediate Holdings, LLC, valued at an implied US$280 million enterprise value and a pro forma equity value of approximately US$500 million. Immediately prior to the closing of the Business Combination we assisted with CENAQ’s $80 million private placement of its Class A common stock at $10.00 per share.
• Leucrotta Exploration Inc., a Canadian publicly listed Montney-focused oil and natural gas exploration and development company, in connection with its acquisition by Vermilion Energy Inc., for a net cash purchase price of $477 million.
• Arq Limited, a privately owned environmental technology Company, in its merger with Advanced Emissions Solutions, a company that provides emissions control solutions for water treatment and coal-fired power generation.
• FYi Eye Care Services and Products Inc., in connection with its acquisition of WestGroupe, a leader in the North American optical industry.
• Radicle Group Inc, a Calgary-based leader in sustainability advisory services and market-based solutions, and technology-driven emissions measurement and management, in connection with its acquisition by Bank of Montreal.