Represented a privately held electrical contractor focused on data center construction in its $2 billion sale to a publicly traded national telecommunications contractor. Engaged in mid-summer with a letter of intent signed in September, the team navigated the unique challenges of a long-time, family-owned business being acquired by a public company seeking to enter the data center construction market and closed the transaction in late December.
Represented Data Center Cooling Solutions Manufacturer in Sale
Miles & Stockbridge represented a data center cooling solutions manufacturer in its sale to a full-service HVAC provider. The transaction — which closed in just nine weeks from letter of intent — required broad cross-disciplinary expertise including tax, real estate, antitrust, employee benefits, employment and intellectual property. The buyer was represented by counsel from a major national firm.
Advised Commercial Real Estate Company on $750M Strategic Investment
Advised Merritt Properties and helped secure a $750 million strategic investment led by global investment firm Centerbridge Partners, positioning the privately held commercial real estate leader for its next phase of growth.
For decades, Miles & Stockbridge has served as a trusted legal advisor to Merritt, supporting the company's growth across its business. Building on that longstanding relationship, the firm advised Merritt through this transformative transaction, helping the company navigate complex corporate, financing, tax and regulatory issues while advancing its long-term business objectives.
$208 Million Acquisition of the Encapsys Microencapsulation Division of Appvion, Inc.
We represented Encapsys LLC in its $208 million acquisition of the Encapsys microencapsulation division of Appvion, Inc. The Encapsys business had 2014 revenues of over $61 million and employs approximately 90 people at offices and research labs in Appleton, Wisconsin and at a manufacturing plant in Portage, Wisconsin. Terms of the sale included a long-term supply agreement whereby Encapsys LLC will continue to produce and sell microcapsules to Appvion for use in its carbonless paper products. The newly formed acquirer was sponsored by Sherman Capital Holdings LLC, a private investment firm based in Baltimore.
$700 Million Acquisition of Highly Engineered Industrial Products Manufacturer
We represented Cypress Performance Group in its $700 million acquisition of IPS Corporation from funds sponsored by Nautic Partners, LLC. Cypress Performance Group is affiliated with Sherman Capital Holdings, LLC, a private investment firm based in Baltimore. IPS is a global manufacturer of specialized, highly engineered industrial products serving diverse industrial, commercial, and residential end markets. IPS will operate in conjunction with Cypress Performance Group’s portfolio company, Encapsys, LLC, a manufacturer of microencapsulation materials based in Appleton, Wisconsin.
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