Simpson Thacher Represents One Equity Partners in Recapitalization of X-Rite, Incorporated
08.25.08
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The Firm is representing One Equity Partners (OEP), a private equity affiliate of JPMorgan Chase & Co., in connection with its announced investment to acquire approximately 37% of the common stock of X-Rite, Incorporated (X-Rite), a NASDAQ listed technology company that develops color management systems and solutions. X-Rite has the right, subject to certain conditions, to require OEP to acquire additional shares of common stock at closing, which would bring OEP’s ownership interest to approximately 43% immediately following the consummation of the transaction. X-Rite will use the proceeds of the new equity investment from OEP, along with additional equity raised from the sale of common stock to two existing institutional investors, to, among other things, reduce X-Rite’s outstanding indebtedness under its existing First Lien and Second Lien credit agreements.
The Simpson Thacher team working on this transaction includes: William Dougherty, Atif Azher, Gregg Finkell and Ajay Kohli (M&A); J.T. Knight, Jason Hwang and Anthony McMahon (Credit); Beth Understahl (Benefits); Gary Mandel and Kurt Dudas (Tax); Adeeb Fadil and Noreen Lavan (Environmental); Lori Lesser, Marcela Robledo and Jason Friedman (IP); Fagie Hartman (Labor); Krista McManus and Jennifer Lai (Real Estate); summer associate Eric Gyasi and paralegal Christopher Stone.