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3G Capital has fully committed financing for Hunter Douglas buy
Chicago, Dec. 30 – 3G Capital announced that it already has fully committed financing for its acquisition of a controlling interest in Hunter Douglas, according to a press release.
3G Capital is paying €175 per ordinary share to buy a 75% interest in Hunter Douglas with the Sonnenberg family continuing to hold a 25% interest in Hunter Douglas, pro forma of the new capital structure.
The price per share implies an enterprise value of approximately $7.1 billion.
3G Capital has obtained, subject to customary conditions, fully committed financing for the transaction from reputable global financial institutions along with its existing equity commitments for the consideration payable under the block trade agreement as well as the buyout.
As part of the support agreement HoldCo has agreed to certain non-financial covenants.
It is expected that the block trade and the asset sale will close in the first quarter of 2022.
Credit Suisse served as exclusive financial adviser to the Sonnenberg family, and De Brauw Blackstone Westbroek NV served as lead legal adviser. White & Case LLP also served as legal adviser. Loyens & Loeff served as tax counsel.
Lazard served as lead financial adviser to 3G Capital. J.P. Morgan and Morgan Stanley also served as financial advisers. Paul Weiss served as lead legal adviser to 3G Capital, with Stibbe serving as co-counsel. Kirkland & Ellis served as financing legal counsel.
Rabobank served as exclusive financial adviser and DLA Piper served as lead legal adviser to the board of directors of Hunter Douglas, represented by the independent directors. Spigt Dutch Caribbean served as legal adviser on matters of Curacao law.
Based in Rotterdam, Hunter Douglas manufactures window coverings and architectural products.
3G Capital is an investment firm and private partnership.
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