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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.
As part of the plan, KP’s financial partners will assume ownership of the Montabaur-based firm that has operations in 18 counties and more than 5,600 employees.
CEO Robert Villaquiran said the restructuring will result in a stronger financial foundation to continue "driving innovation and responding to the needs of our customers with agility and excellence."
Throughout the financial overhaul, KP operations will continue without interruption. Villaquiran said “the support of our financial partners demonstrates their confidence in our business and the opportunities ahead.”
KP filed its Chapter 11 documentation with US Bankruptcy Court for the Southern District of Texas.
Joele Frank, Wilkinson Brimmer Katcher partners Michael Freitag, Aaron Palash and Aura Reinhard along with managing director Richard Goldman are working the KP business.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
