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Joele Frank counsels CommScope, network infrastructure firm, as it acquires ARRIS International, telecom equipment maker, in an all-cash transaction worth $7.4B to forge an $11.3B entity.
The partners “bring together a unique set of complementary assets and capabilities that enable end-to-end wired and wireless communications infrastructure solutions that neither company could otherwise achieve on its own,” said Eddie Edwards, CommScope CEO, in a statement.
The Carlyle Group is re-investing $1B in CommScope for a 16 percent stake to help bankroll the transaction.
The private equity firm bought CommScope in 2011, took it public in 2013 and sold it in 2016.
Cam Dyer, global co-head of TCG’s technology, media and telecom practice, said his firm is delighted to resume collaboration with CommScope because of its “long-term strategy, customer-centric culture and ability to deliver results.”
Joele Frank, Wilkinson, Brimmer, Katcher’s Jim Golden and Joe Sala represent CommScope.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
