We served as counsel to Kansas City entrepreneur John Sherman in his successful bid to become a minority owner of the Cleveland Indians. The Major League Baseball team announced Sherman as a vice chairman August 19, 2016. Sherman started and developed two businesses in Kansas City. The first, LGP Services group, merged with Dynegy in 1996. Sherman later founded Inergy LP, which went public in 2001 and merged with Crestwood Holdings in 2013. He is a board member of the merged company, Houston-based Crestwood Equity Partners.
We represented uniform rental and facility products company G&K Services in its sale to Cintas Corporation for $2.2 billion. As a result of the sale, G&K shareholders received $97.50 for each share of common stock held. Minneapolis-based G&K Services had more than $1 billion in annual revenue, and had 8,000 employees and 165 facilities across the U.S. and Canada.
Anne Cotter, Corporate Finance partner, assisted longtime firm client Midcontinent Communications in its acquisition of the WOW! internet, cable and phone system in Lawrence, Kansas. The deal closed in January 2017 and signals Midco’s entry into Kansas, where the company will serve more than 30,000 customers in Douglas, Leavenworth and Wyandotte counties. Before this acquisition, Midco already provided telecommunications, data center and managed services, and advertising solutions to more than 350,000 customers in Minnesota, North Dakota, South Dakota and Wisconsin.
Founded in 1956, Shick Solutions was a family-owned, Kansas City-based manufacturer of automation systems for food products found in many of the fast-food restaurants and convenience stores we all know and use regularly. Over the last 61 years, Shick became a global industry player supplying equipment and processes to move raw materials around food industry factories.
Led by Eric Mikkelson, a team of attorneys from multiple practice areas represented Shick as its second-generation Ungashick owner-brothers negotiated and closed an asset transaction with Breteche Industrie Group, a French private equity portfolio company. The deal gives Breteche a foothold in North America and expands Shick’s market reach in Europe and beyond.
With Reed Smith, Paul Hastings, Dinsmore, French counsel and multiple other law firms involved on behalf of multiple other parties, this cross-border transaction presented a number of unique challenges. We successfully closed on July 26, 2016. The client is thrilled with our work and the results we achieved.
We represented Greer Companies in connection with the sale of 44 Cheddar’s Casual Café and Cheddar’s Scratch Kitchen restaurant locations in Kentucky, Ohio, Indiana, Tennessee, Virginia, West Virginia and North Carolina to the franchisor. Prior to the sale, Greer Companies, a Kentucky-based hospitality and real estate development company, was the largest franchisee of Cheddar’s Casual Café and Cheddar’s Scratch Kitchen restaurants.
Represented longtime client QTS Realty Trust (NYSE: QTS), a leading provider of secure, compliant data center, hybrid cloud and managed services, with more than 5 million square feet of data center space supporting more than 1,000 customers in North America, Europe and Asia Pacific, in three significant transactions:
- QTS’ acquisition of a data center property in Piscataway, NJ, which was acquired from DuPont Fabros Technology, Inc. and included a solar facility and state renewable energy credits.
- A $1.2 billion amended and restated credit agreement.
- QTS’ acquisition of its second data center in the Dallas-Fort Worth, Texas market, a 260,000-square-foot data facility, from Health Care Service Corporation.
Advised Spire, Inc. and its subsidiaries Alabama Gas Corporation and Laclede Gas Company with respect to the negotiation and closing of a $975 million senior credit facility and related commercial paper program.
Served as lead counsel to Two Harbors Investment Corp. (NYSE:TWO) in its $287.5 million public offering of Convertible Senior Notes. Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights, commercial real estate and other financial assets. Two Harbors is headquartered in New York, New York, and is externally managed and advised by PRCM Advisers LLC, a wholly owned subsidiary of Pine River Capital Management L.P.