Simpson Thacher Represents Underwriter in Secondary Offering of Common Stock of Albany International
08.10.21
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Simpson Thacher recently represented J.P. Morgan Securities LLC in connection with the public offering of 1,566,644 shares of Class A Common Stock of Albany International Corp. (NYSE: AIN) (“Albany International”) by certain selling stockholders. The offering raised gross proceeds of approximately $119 million.
Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Its Machine Clothing segment is a producer of custom-designed, consumable fabrics and process belts essential for the manufacture of all grades of paper products. Its Albany Engineered Composites segment is a designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries and employs 4,000 people worldwide.
The Simpson Thacher team for the transaction included John C. Ericson, Ben Massey and David Goodman (Capital Markets); Jonathan Cantor and Scott Grundei (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Genevieve Dorment and Corina McIntyre (Intellectual Property); and Jennie Getsin (FINRA/Blue Sky).