The Firm recently represented a group of underwriters, led by J.P. Morgan Securities LLC and Goldman Sachs & Co., in the initial public offering of common stock of The Michaels Companies, Inc. (“Michaels”), a portfolio company of Bain Capital Partners, LLC and The Blackstone Group L.P. Michaels’ shares are now listed on the NASDAQ under the ticker symbol “MIK”. Michaels received approximately $446 million in proceeds before expenses from the offering.
Michaels is the largest arts and crafts specialty retailer in North America based on store count as well as a market-leading vertically-integrated custom framing business.
The Simpson Thacher team included Rhett Brandon, Ben Wells, Erika Tang and Doug Brown (Capital Markets & Securities), Michael Isby (Environmental), Jamin Koslowe and Scott Mathias (Executive Compensation and Employee Benefits), Andrew Pagliughi (FINRA), Samantha Himelman (Intellectual Property) and Jonathan Cantor and Jodi Sackel (Tax).