BlueLinx to Acquire Cedar Creek From Charlesbank Capital Partners

BlueLinx to Acquire Cedar Creek From Charlesbank Capital Partners

  

Fried Frank acted as counsel to BlueLinx (NYSE: BXC), in connection with the financing related to its acquisition of Cedar Creek, a leading building products wholesale distributor specializing in a wide variety of building products, from Charlesbank Capital Partners for US$413 million on a debt-free, cash-free basis. Fried Frank advised BlueLinx on a new US$180 million term loan used, together with net proceeds from debt issuance under the company's amended US$750 million ABL revolving credit facility, to fund the purchase price, repay debt and to pay certain related transaction fees and expenses. The combination of BlueLinx and Cedar Creek creates one of the largest wholesale distribution companies in the building products industry, with combined revenue of approximately US$3.2 billion in 2017 and a distribution footprint of 70 national locations servicing 40 states.
 
The Fried Frank team was led by corporate partner Caroline Sandberg and included corporate partner Michael T. Gershberg; executive compensation & ERISA partner Donald P. Carleen; tax partner Joseph E. Fox; corporate special counsel Andrew J. Klein; corporate real estate special counsel Jessica H. Mayes; intellectual property and technology special counsel Jason L. Greenberg; corporate associates Samuel A. Borland, Dallas Cruz, Justin A. Schenck, Abbie R. Schepps, and Brian Sullivan; tax associate Thomas A. Mitchell; corporate law clerk Melissa S. Doura; and executive compensation & ERISA law clerk Maggie A. Kornreich.

majormatters-detail.inc