Gladstone Place Partners represents WeWork as it inks a SPAC deal with BowX Acquisition Corp to pave the way for the flexible space provider to go public.
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The deal puts $9B enterprise valuation on WeWork and provides it with $1.3B to fund future growth plans.
WeWork CEO Sandeep Mathrani said WeWork spent pandemic year 2020 “transforming the business and refocusing its core” and the COVID-19 outbreak-flexible work schedules proved that its value proposition is stronger than ever.
During 2020, WeWork slashed SGA expenses by $1.1B, exited non-core businesses, exited from underperforming locations, achieved rent reductions, and sliced 67 percent of its workforce. It posted a flat $3.2B revenues for the year.
WeWork has more than 850 locations in 150 cities, totaling more than 1M workstations.
Gladstone Place's Lauren Odell and Felipe Ucros handle WeWork's deal.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
