Piper Sandler

Wilmington, Del. — Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previously announced acquisition of Diversey Holdings, Ltd., effective July 5, in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Diversey is a leading provider of hygiene, infection prevention and cleaning products and technology. With the acquisition, Solenis has grown to an enterprise operating in over 130 countries with 71 manufacturing facilities and more than 15,000 employees. Headquartered in Wilmington, Del., Solenis was acquired by Platinum Equity in 2021. Bain …

0 FacebookTwitterPinterestEmail

Dallas — Tuesday Morning Corp., an off-price retailer of home goods and décor, is pursuing a financial and operational reorganization by filing voluntary petitions for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division. Invictus Global Management, LLC (together with its affiliates, “Invictus”) will provide $51.5 million of debtor-in-possession (DIP) financing to support ongoing operations during the proceedings. “After considering how best to address Tuesday Morning’s exceedingly burdensome debt, we have determined that the best path …

0 FacebookTwitterPinterestEmail

Indianapolis and Bloomfield Hills, Mich. — Simon Property Group and Taubman Centers Inc. have modified their merger agreement to include a new purchase price of $43 per share, enabling Simon to proceed with its acquisition of an 80% interest in Taubman. CNBC reports that the decline in the agreed-upon share price from $52.50 per share effectively reduces the price tag of the deal by $800 million. This announcement comes just as the two regional mall REITs were set to square off in Circuit Court for the Sixth Judicial District of …

0 FacebookTwitterPinterestEmail