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Kekst CNC advised United Wholesale Mortgage as it becomes a public company via the biggest special purpose acquisition deal ever, with a market valuation of $16B.
UWM, the nation’s No. 1 wholesale mortgage lender, is merging with Gores Holding IV, a SPAC that raised $425M in its January public listing.
The Pontiac, MI-based company, which was founded in 1986, has about 7,000 employees and chalked up an adjusted net income of $1.7B.
CEO Mat Ishbia said being a public company will enable UWM to advance its strategy and capitalize on new opportunities under its unique family culture. “We look forward to granting our team members equity in the company that they have built and enabling them to participate in our future success,” he said.
Kekst CNC’s Daniel Yunger, Jim Fingeroth, Dawn Dover, Lindsay Gross, Simone Leung and Natalie Shutts worked the deal.
Publicis Groupe owns Kekst CNC.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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