Sheryl Gittlitz is a Partner in the Finance Department, based in the firm’s New York office. Her practice focuses on banking and finance matters. Ms. Gittlitz represents private equity sponsors, companies and financial institutions in the structuring, negotiation and documentation of a broad range of commercial lending transactions, handling matters involving asset-based loans, working capital facilities and acquisition financing. She is also well-versed in debtor-in-possession financings, Chapter 11 exit financings, recapitalizations, restructurings and workouts.
A sample of her work includes representation of:
- American Securities in its acquisition and financing of Milk Specialty, a leading human and animal nutrition company, from Kainos Capital, which involved a $475 million term loan and a $50 million revolving credit facility.
- Fremont Private Holdings, the private direct investment arm of the Fremont Group, in its strategic equity investment in Minnesota-based Process Displays LLC, a leading retail environment design and manufacturing company, for an undisclosed purchase price.
- Administrative Agent and Joint Lead Arranger in a $1.65 billion revolving credit facility for a leading REIT engaged in the office/laboratory and technology sector.
- Halifax Capital Partners in the sale of Caring Brands International, a leading worldwide franchisor of home healthcare services, to Levine Leichtman Capital Partners.
- Gravity Midstream in obtaining up to $40 million in loans from BBVA Compass, a leading US banking franchise with operations throughout the Sunbelt.
- Onex Corporation in the acquisition by its subsidiary, Schumacher Group, of Hospital Physician Partners (HPP), one of the largest US providers of emergency and hospital medicine clinical staffing services.
- Onex Corporation in its investment in Schumacher Group, a leading US provider of outsourced emergency and hospital medicine clinical staffing, as well as healthcare advisory services.
- Liberty Tire Recycling in a successful out-of-court, cross-border restructuring, including refinancing of its existing senior secured credit facility, with approximately $90 million of term loans and a $24 million revolving credit facility, and an offer to exchange Liberty’s $225 million of existing senior notes for $175 million of new second-lien PIK notes, and substantially all of the equity of restructured Liberty concurrent with a consent solicitation. This deal was named M&A Advisor’s 2015 “Out of Court Restructuring Deal of the Year (Under $500 MM).”
- Skilled Healthcare Group, Inc. in its combination with Genesis HealthCare, one of the nation’s largest providers of post-acute care services, in a 100% stock transaction.
- VanDeMark Chemical Inc., a portfolio company of Uni-World Capital, L.P., in its acquisition, together with institutional co-investors, of Framochem Kft from ISOCHEM S.A.S., a company belonging to Germany’s AURELIUS Group, and the related debt and equity financings in connection with the acquisition.
- American Securities in the acquisition of Learning Care Group (US) Inc., a provider of early education and child care services, from Morgan Stanley Global Private Equity.
- Spirit AeroSystems, Inc. in a $1.15 billion debt refinancing, including a $500 million term loan A and a $650 million revolving credit facility.
- American Securities in its acquisition of Unifrax I LLC, a producer of high-temperature insulation products. The secured credit facility entered into in connection with the acquisition consists of a US dollar denominated Term Loan, a Euro denominated Term Loan and a revolving multi-currency credit facility. In addition to the revolving multi-currency credit facility being available to, and secured by assets of, Unifrax subsidiaries in certain European countries, the guaranty and collateral package includes subsidiaries and assets located in Europe, South America, Australia and Asia.
- American Securities/Marine Acquisition Corp. in the acquisition by American Securities of Marine Acquisition (a/k/a SeaStar Solutions), the leading manufacturer of precision-engineered vessel control systems and other specialized applications in marine and industrial end markets, and in concurrent working capital credit facilities, including a $210 million term loan and a $25 million revolving credit facility.
- American Securities/Frontier Spinning Mills, Inc. in the acquisition by American Securities of Frontier Spinning Mills, a leading producer of cotton yarn for the knitting and weaving industries, and in concurrent working capital credit facilities, including an $80 million term loan and a $100 million asset-based revolving credit facility (including an Ex-Im sub-facility).
- Independent Committee of the Board of Directors of General Maritime Corporation in a $200 million debt and equity investment by Oaktree Capital Management L.P.
- Investor in multi-billion dollar debt and equity investments in one of the nation’s largest operators of multifamily residential units.
- Lender in a $125 million bilateral secured term loan facility extended to leading international hotel operator in support of an asset acquisition.
- Liberty Tire Recycling, an affiliate of American Securities, in a private offering of $200 million of senior notes pursuant to Rule 144A. The proceeds from the offering were used to refinance debt under its existing credit facilities, as well as for general corporate purposes.
In The Market
- Kaye Scholer Achieves Complete Victory for Spirit AeroSystems in Securities Class Action July 6, 2016 • Client Successes
- Kaye Scholer Represents American Securities in Milk Specialties Acquisition June 28, 2016 • Client Successes
- Kaye Scholer Represents Fremont in Equity Investment in Process Displays January 22, 2016 • Client Successes