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Joele Frank, Wilkinson Brimmer Katcher is working with GameStop as the troubled video game/consumer electronics retailer irons out a deal to ward off a proxy fight with Hestia Capital Partners and Permit Enterprise Capital Partners.
The Austin-based company has agreed to nominate two independent directors. One will be put forward by Hestia and Permit, and the other will be selected by GameStop with input from the two investors.
With the deal, Hestia and Permit will withdraw their proposed director-nominees.
GameStop, which lost $455M on $5.7B revenues during the nine-month period ended Nov. 3, named a new CEO on March 21.
George Sherman assumes the helm on April 15 to become the company’s fifth chief since Nov. 2017. He succeeds Shane Kim, interim CEO since last May.
JFWBK’s Matthew Sherman and Aura Reinhard rep GameStop, which has more than 5,800 stores in 14 countries.
FGS Global represents Copart as the online vehicle auction company acquires auto marketplace and data services business ACV, a Joele Frank client, in a deal valued at $1.9B.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
