William H. Gump

Willkie advised The CapStreet Group and its portfolio company HungerRush on the transaction. On June 1, private equity firm Corsair Capital LLC announced its acquisition of a majority stake in HungerRush, a leading cloud-based software provider for the restaurant industry, from The CapStreet Group. HungerRush has been driving the transition from the point-of-sale (POS) terminal of the past to the integrated cloud POS system of the future. HungerRush 360, its flagship system, is an all-in-one cloud POS system with integrated software, payments, and digital ordering capabilities primarily serving multi-site quick service restaurants and fast casual operators. CapStreet will continue as a minority investor in HungerRush following Corsair’s acquisition. Willkie previously advised HungerRush on its acquisitions of Menufy, an online food ordering platform, and OrdrAI, a leading text and voice ordering provider for the restaurant industry. Founded in 1990, CapStreet invests in lower middle market software, tech-enabled services and industrial business services companies. Corsair is a global specialist investment firm offering opportunities for investors and solutions for companies across financial & business services and infrastructure. The Willkie team was led by partner William Gump and included partners Mark Holdsworth and Robert Jacobson, counsel Jill Grant, and associates Aaron Savella, Brandon Schumacher and Tyler Kuhn.

Jun 3

1 min

Willkie advised SPAC led by Callaway Capital in the transaction that will take Turkey’s leading mobility platform public. On August 1, Willkie client Galata Acquisition Corp., a special purpose acquisition company led by Callaway Capital Management LLC, announced the execution of a definitive business combination agreement with Marti Technologies Inc., Turkey’s leading mobility app. The combined company will receive up to approximately $147 million held in Galata’s trust account at closing of the transaction, subject to any redemptions by existing Galata shareholders. Upon closing of the transaction, the company will be named Marti Technologies Inc., and Marti’s ordinary shares are expected to trade on the New York Stock Exchange under the ticker symbol “MRT.” The transaction values the combined company at a pro forma enterprise value of approximately $532 million. Founded in 2018, Marti is backed by a diverse investor base with deep knowledge of the mobility sector in emerging markets and operates a fleet of over 46,000 e-mopeds, e-bikes, and e-scooters, serviced by proprietary software systems and IoT infrastructure. The transaction will give Marti resources to strengthen its market-leading position in Turkey through the deployment of additional vehicles across existing and new modalities. Galata is backed by Callaway Capital Management LLC and brings deep expertise and insight into the Turkish market. Galata has approximately $147 million in trust and the parties have received commitments for $57.5 million in new investments, including $40 million from Galata’s sponsors. The Willkie team was led by partners William Gump, Danielle Scalzo and Michael Brandt and included associates Charise Patterson and Ryan Peloquin.

Aug 8

1 min

Willkie represented Genesis Park Acquisition Corp., a publicly traded special purpose acquisition company (SPAC), in its business combination with Redwire. On March 25, it was announced that Willkie client Genesis Park Acquisition Corp. (NYSE: GNPK), a publicly traded special purpose acquisition company (SPAC), and Redwire, a leader in mission-critical space solutions and high reliability components for the next generation space economy, have entered into a definitive merger agreement that will result in Redwire becoming a publicly traded company. The transaction is expected to be completed by the end of the second quarter of 2021, and at that time, Genesis Park Acquisition Corp. will change its name to Redwire and the company will trade on the NYSE. The business combination values Redwire at a pro forma enterprise value of $615 million and the transaction is expected to deliver approximately $170 million in cash to the Redwire balance sheet (assuming no redemptions). The deal includes a fully committed and oversubscribed $100 million common stock PIPE with participation by Senvest Management, LLC and Crescent Park Management, L.P. The transaction, which has been unanimously approved by the Boards of Directors of Redwire and Genesis Park, is subject to approval by Genesis Park's shareholders and other customary closing conditions. Redwire provides critical space infrastructure technology and services and is uniquely positioned to deliver solutions to meet the growing needs of national security, civil, and commercial customers for a full spectrum of activity in space. GNPK is one of the first aerospace and aviation services special purpose acquisition companies, and may pursue an initial business combination in any industry or geographic region, but specifically seeks to capitalize on the operational and investment experience of the GNPK management team and Board of Directors by focusing on companies that have significant growth prospects in the aerospace and aviation services sectors. The multidisciplinary Willkie team was led by partners William Gump and Jesse Myers and associate Thomas Sharkey, and included associates David Araoz and Michael Manopla and law clerk Alex Gulbrandsen.

Apr 13

1 min

Willkie advised EG Acquisition Corp., a special purpose acquisition company, in its IPO. On May 28, 2021, EG Acquisition Corp. consummated the initial public offering of 22.5 million units. Each unit consists of one share of Class A common stock, $0.0001 par value, and one-third of one redeemable warrant entitling its holder to purchase one Class A common stock at a price of $11.50 per share. The units were sold at an offering price of $10.00 per unit, generating gross proceeds of $225 million. The units were listed on The New York Stock Exchange and began trading under the ticker symbol "EGGFU" on May 26, 2021. Simultaneously with the closing of the IPO, EG Acquisition Corp. consummated the private placement with its sponsor of an aggregate of 4,333,333 warrants at a price of $1.50 per warrant, generating total proceeds of $6.5 million. EG Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a business combination with one or more businesses. EG Acquisition Corp. is not subject to any restrictions or limitations regarding the industry in which a target business may operate. However, there are certain sectors that EG Acquisition Corp. believes are particularly complemented by the expertise and relationships of its sponsor’s affiliates, EnTrust Global and GMF Capital, including transportation and real assets, financial services, financial services technology, healthcare, real estate and sustainability-focused businesses. The Willkie deal team was led by partners Sean Ewen, William Gump and Steven Seidman.

May 28

1 min

Willkie represented Blackstone Credit in connection with financing for the transaction. On December 7, Mimecast Limited, a leading email security and cyber resilience company, announced that it has entered into a definitive agreement to be acquired by funds advised by Permira. Under the terms of the agreement, Permira will acquire all outstanding ordinary shares in an all-cash transaction that values Mimecast at an equity value of approximately $5.8 billion. Blackstone Credit and funds managed by Ares Management Corporation’s Credit Group are providing committed debt financing to the Permira funds. Upon completion of the transaction, Mimecast will become a privately held company. Permira is a global private equity firm headquartered in London, with 15 offices across Europe, North America and Asia. The firm’s 17 buyout and growth funds have secured €44 billion of committed capital and backed more than 280 businesses around the world. The Willkie team was led by partners William Gump and Viktor Okasmaa and included associates Jonathan Zane, Christian Bonser and Reginald St. Louis, and law clerk Adam Lorenzana.

Dec 8

1 min