Firm advises on diverse set of M&A, private equity, public offering,
private placement, structured finance deals in 2007; Irell represents leading clients in gaming, green tech, entertainment, health care, aviation, communications technology and home construction
LOS ANGELES, Jan. 8 /PRNewswire/ -- Irell & Manella LLP's Transactions Group turned in a strong performance in 2007, handling corporate deals valued at more than $7 billion.
The firm advised on a variety of mergers & acquisitions, private equity investments, public offerings, private placements and structured finance. Clients also spanned multiple industry sectors, with Irell representing leading names in gaming and entertainment, as well as aviation, energy technology and alternative energy, home construction and health care.
"This past year, as in prior years, we advised on an eclectic range of strategic deals for longstanding clients in gaming, hospitality, entertainment and other sectors, while expanding our work for several areas, such as green technology and health care services," said Ashok Mukhey, head of Irell's transactions practice.
The firm was especially active on the private equity front. "Our group has shown that we are well positioned to handle the full spectrum of transactional work, from securities offerings to large-scale mergers and the creation of new investment vehicles. And we take pride in representing well- established industry leaders as well as entrepreneurial companies - this year saw plenty of work in both areas," Mr. Mukhey added.
Here are some highlights of Irell's 2007 corporate engagements by
-- Served as counsel to private equity fund U.S. Renewables Group, LLC, an
emerging leader in alternative and renewable energy investments. Irell
advised USRG in the formation of two new investment vehicles, a $475
million private equity fund (USRG II) and a geothermal resources
investment platform, Oski Energy, LLC. The firm also advised USRG on
its minority investment in Pipestem Energy Group, LLC, a developer of
midstream infrastructure assets supporting the petroleum agri-feedstock
and biofuels industry. Irell handled the private placement of
preferred units for U.S. Biodiesel Group II, LLC, a developer of
biodiesel production facilities, and it represented both USRG and
Rustic Canyon Partners in the formation and capitalization of Fulcrum
BioEnergy, Inc., a company designed to convert municipal solid waste
into biofuels. The Fulcrum deal included negotiating a first-of-its
kind commercial relationship with a public waste management company.
-- Continued its successful representation of private equity sector funds
co-formed by GFI Energy Ventures LLC and Oaktree Capital Management,
assisting in two significant energy company acquisitions. Having
advised on four GFI portfolio company acquisitions in 2006, Irell in
2007 represented the fund in its purchase of GoodCents, a developer of
energy efficiency programs for North American electric utilities and
Turbine Generator Maintenance, a leading service provider to the
turbine generator market in the U.S.
-- Represented Los Angeles-based Angeleno Group, a private equity firm
focused on the energy sector, in its investment in a company that
separates glass by color in preparation for recycling.
-- Represented a major international entertainment company in its $350
million acquisition of Club Penguin Entertainment, operator of a
popular children's online interactive community with more than 700,000
subscribers worldwide. The purchase price consisted of an upfront cash
payment of $350 million, with an earn-out of up to an additional $350
-- Advised Crescent Entertainment, LLC, a film production investment
company formed by private equity investor Clarity Partners L.P., along
with Act III Entertainment and Lambert Entertainment, in the
restructuring of its investment in Village Roadshow Pictures Group, a
film production and financing business, and the merger of Concord Music
Group into Village Roadshow Pictures Group.
-- Secured financing of the Aurora del Sol Hotel and Casino, a luxury
hotel and casino project with 25,000 square feet of gaming space in
Santo Dominto Este, in the Dominican Republic.
-- Handled negotiations relating to the issuer's default under $400
million of senior notes of Landry's Restaurants, Inc., resulting in a
litigation settlement providing for an exchange offer for new senior
-- Advised leading Las Vegas - based entertainment company FDR Management,
LLC (which does business under the name Pure Management Group) in its
corporate restructuring, as well as in the issuance and sale of secured
senior bridge notes, secured senior notes and equity interests to
institutional and other third party investors. Irell also represented
FDR Management in its negotiations of construction agreements for
multiple entertainment venues that recently opened in two of the major
hotel-casino resorts on the Las Vegas strip.
-- Represented Lake at Las Vegas Joint Venture, developer of the 3,600
acre residential and resort development Lake Las Vegas Resort, in its
$540 million refinancing of senior secured credit facilities and
-- Served as counsel to leading Las Vegas resort and casino owner Wynn Las
Vegas in its construction agreements with Tutor Saliba Corp. for the
$1.35 billion Encore at Wynn Las Vegas, a 5-star Las Vegas luxury
resort tower, expected to open in late 2008. Irell also represented
Wynn Las Vegas in the multi-million dollar remodeling of its theater
and related spaces for new Broadway shows.
-- Continued its representation of fast-growing Las Vegas gaming company
Pinnacle Entertainment on a number of capital markets and construction
transactions. On the financing side, Irell represented Pinnacle in its
$368 million follow-on common stock offering, as well as its $385
million high-yield debt offering. The firm represented Pinnacle in
crafting construction agreements with McCarthy Building Companies, Inc.
for a luxury class gaming and multi-use development in St. Louis,
expected to include a 75,000-square-foot casino and 200 deluxe hotel
rooms. The firm also represented Pinnacle in negotiation of license and
management agreements with the Four Seasons Hotels Limited for a hotel
attached to its new facility in St. Louis.
-- Advised fund affiliates of three institutional investment fund
managers, including funds managed by Levine Leichtman Capital Partners,
in a complex restructuring of debt financing and equity ownership
arrangements with respect to a portfolio company that developed a
casino and resort property in Mississippi.
-- Represented Chartwell Diversified Services, Inc. in the sale of its
Texas-based provider of home attendant care services, Chartwell
Community Services, Inc., to Jordan Healthcare Holdings, Inc., a
leading Texas home health care provider.
-- Advised Centinela Freeman Holdings in its sale of Centinela Hospital
Medical Center to Prime Healthcare Services. Centinela Hospital is a
369-bed hospital in Inglewood, CA and the official hospital of the Los
Angeles Dodgers and Lakers, as well as the home of the Tommy Lasorda
-- Represented Communications & Power Industries, Inc., a leading provider
of microwave products for defense, medical, communications and
scientific applications, in its acquisition of Malibu Research
Associates, Inc., a designer of advanced antenna systems for radar and
communications systems. Irell also represented Communications & Power
in the expansion of its senior credit facility and served as counsel to
its parent company, CPI International, Inc., in its $58 million tender
offer for its floating rate senior notes.
-- Served as counsel to Pacific Life Insurance Company on various
construction and term loans on real estate development projects,
including large apartment complexes, premier golf courses and world
-- Represented Arrow Group Industries, a leading manufacturer and
distributor of outdoor structures for residential use, including garden
sheds, greenhouses, carports, patio covers, and other home-related
products and accessories, in the amendment of its $80 million second
lien term loan.
Art, Planned Giving
-- Advised The Broad Art Foundation and Eli and Edythe Broad in their
negotiations for their loan of over 200 valuable works of art for the
inaugural exhibition at the newly completed Broad Contemporary Art
Museum at the Los Angeles County Museum of Art. Irell also represented
The Broads on their Foundation's $60 million gift to LACMA that
provided for the construction of the new Broad Contemporary Art Museum
as well as funding for the purchase of new works of art at the
institution, and Irell also represented a number of high net worth
individuals in pledges and supporting gift contributions to major
educational and medical institutions around the country.
Note: Irell & Manella LLP is a full service law firm with 220 attorneys in its Southern California offices in Los Angeles and Newport Beach. Founded in 1941, Irell is nationally recognized for its tax, entertainment, intellectual property, corporate and litigation practices. Irell was named the Number 1 U.S. law firm for intellectual property by Chambers Global in 2005 and 2006. The firm's clients include Fortune 500 corporations, universities, and leading-edge entrepreneurial companies in aviation, life sciences and medical devices, telecommunications, gaming, finance, technology and consumer electronics, and entertainment. For more, visit http://www.irell.com.
From: Jessica Pantukh 310-203-7536 firstname.lastname@example.org
|SOURCE Irell & Manella LLP|
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