On March 29, 2012, Fried Frank received the IFLR Americas "Private Equity Deal of the Year" award in recognition of its work on Onex’s US$2.1 billion sale of Husky to Berkshire Partners and OMERS Private Equity, one of the largest secondary buyouts of 2011. Onex, Canada’s largest private equity firm, acquired Husky in December 2007 for approximately US$622 million, resulting in a multiple of invested capital of 2.9 times and a 36% rate of return. Husky is one of the world’s largest suppliers of injection molding equipment and services to the global plastics industry.
The Fried Frank team representing Onex was led by corporate partners Christopher Ewan and Daniel Bursky and included corporate partner Robert McLaughlin; antitrust and competition partner Peter Guryan; tax partner Alan Kaden; and employee benefits & plans, executive compensation of counsel Laraine Rothenberg.
Fried Frank was additionally honored with a nomination in the “Equity Deal of the Year” category for its work on Cargill’s high-profile split-off of its stake in The Mosaic Company in a tax-free transaction valued at US$24 billion. The global Fried Frank team was led by tax partner Alan Kaden and corporate partners Brian Mangino and Philip Richter.
International Financial Law Review (IFLR), a leading magazine covering developments in the law of international finance, selects award winners based primarily on legal innovation on complex cross-border matters.