 |
Sitrick And Company is working the Chapter 11 filing of Williams Industrial Services Group, which struggled with the loss of customer contacts accounting for about 20 percent of its business and a heavy red ink flow in its water business.
In conjunction with the filing, the Atlanta-based company is selling its profitable nuclear, energy delivery and paper mill operations to EnergySolutions for $60M.
Tracy Pagliara, Williams CEO, said Chapter 11 is obviously not the outcome that it wanted for shareholders, but it was “necessary to deliver the primary and profitable parts of the Williams business to EnergySolutions as a going concern.”
Pagliara expects the Williams business to flourish under EnergySolutions ownership “as we stand on the precipice of a global nuclear renaissance and significant growth in the energy and industrial services.”
Sitrick’s Brenda Adrian and Rich Wilner represent Williams.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
