David Griffiths

Willkie advised Platinum Equity on the acquisition of Sunrise Medical, a world leader in advanced assistive mobility solutions, from Nordic Capital. The firm also advised Platinum on financing for the transaction. Sunrise Medical develops, designs, manufactures, and distributes manual and power wheelchairs, power assist products, pediatric and geriatric therapeutic devices, mobility scooters, seating and positioning systems as well as daily living aids and other home medical equipment. Headquartered in Malsch, Germany, with North American headquarters in Fresno, California, Sunrise Medical has manufacturing facilities in the United States, Mexico, Germany, United Kingdom, Spain and China. Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies. The Willkie deal team was led by partner Nils Röver with partners Gavin Gordon and Michael Ilter, counsel Jacob Ahme and associate William Buchanan. The team also included counsel Sebastian Brenner and associates Nils Bock, Denise Kammerer and Jasper Wentz. The financing was led by partners Cristopher Greer, Daniel Gendron and Jennifer Tait, and included partner David Griffiths, counsel Timothy Sawyer, associate Alec Young and trainee solicitor Theodora Oancea.

Jun 11

1 min

Willkie represented an ad hoc group of senior secured noteholders in the financial restructuring of AFE S.A. SICAV-RAIF, a specialist European non-performing loan and real estate investment firm affiliated with Veld Capital (formerly AnaCap Credit). Willkie advised the holders of €307.5 million Senior Secured Floating Rate Notes due 2024 in connection with the comprehensive recapitalization and refinancing of AFE’s capital structure along with the acquisition of AFE by AGG Capital Management Limited, a subsidiary of Arrow Global Group, and certain Noteholders. On February 9, AFE announced  the successful completion of the recapitalization and refinancing transactions after having received consents from the holders of more than 95% of the Notes to implement the transactions on December 21. The restructuring involved the extension of the maturity of the Notes, new term loan facilities totaling €132.9 million, the issuance of approximately €35.7 million in aggregate principal amount of additional Notes, and an equity transfer of the AFE Group to certain Noteholders and funds managed by AGG. The Willkie team in London was led by partners Graham Lane and Jason Taylor, and included partners Jennifer Tait, Gavin Gordon, Jane Scobie, Komal Raina and David Griffiths, along with associates Celine Buttanshaw, Chiraag Thadani, Carson Lau, Alec Young, Megan Gairns, Snaebjorn Olafsson and Ashley Jamali and trainee solicitor Caitlin Smith.

Feb 9

1 min

Willkie acted as deal counsel in connection with SCOR’s issuance of $75 million Series 2023-1 Class A Principal At-Risk Variable Rate Notes, via Irish-incorporated Atlas Capital DAC. The Atlas cat bond secured SCOR SE $75 million of fully collateralized retrocessional catastrophe protection. SCOR is covered against losses from major catastrophe industry loss events caused by U.S. named storms and earthquakes (including Puerto Rico and the U.S. Virgin Islands), Canada earthquakes and European windstorms. The Atlas Capital DAC Series 2023-1 offering is the inaugural issuance made by Atlas Capital DAC, a multi-arrangement special purpose vehicle approved in Ireland under Solvency II. The Atlas Capital DAC programme is among the first of this type of programme structure established in Ireland. Atlas Capital DAC has received permission to secure protection against various perils relating to both mortality and catastrophe triggers. SCOR is a global reinsurance company offering its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. The Willkie team in London was led by partners Joseph Ferraro and Jennifer Tait and included associates David Griffiths and Nicole Kapu-Leyland.

May 31

1 min

Willkie represented Fidelis Insurance Holdings Limited (Fidelis Insurance Group) and Herbie Re Ltd. in connection with a $375 million catastrophe bond offering. On December 27, Fidelis Insurance Group, a global specialty insurer, announced that Fidelis Insurance Bermuda Limited successfully closed a new catastrophe bond through the issuance of the Series 2024-2 Class A Principal-at-Risk Variable Rate Notes, the Series 2024-2 Class B Principal-at-Risk Variable Rate Notes, and the Series 2024-2 Class C Principal-at-Risk Variable Rate Notes by its Herbie Re Ltd. program. This is the sixth series of notes issued by Herbie Re and will provide the Fidelis Insurance Group with $375 million of collateralized reinsurance protection. Fidelis Insurance Holdings Limited (NYSE:FIHL) is a global specialty insurer, leveraging strategic partnerships to offer innovative and tailored insurance solutions. The Willkie team was led by partners Joseph Ferraro and David Griffiths, and included partners Arthur Lynch, Alexander Ryan, Henrietta de Salis, Nan-I Chen and Cindy Chernuchin, and associate Andrew Bottomley.

Dec 31

1 min

On September 9, Solenis, a portfolio company of Platinum Equity, completed the acquisition of Clearon Corp, a specialty chemical manufacturer and water treatment solutions company based in South Charleston, West Virginia. The acquisition was financed through the issuance of senior secured notes due 2027. Willkie previously served as debt financing counsel to Platinum Equity in its $5.25 billion acquisition of Solenis, among many other transactions. Platinum Equity is a global investment firm with more than $36 billion of assets under management and a portfolio of approximately 50 operating companies that generate over $89 billion of aggregate revenue and serve customers around the world. The cross-border Willkie team was led by partners Cristopher Greer in New York and Jennifer Tait in London and included associates David Griffiths and Ida Nizankowska-Polus in London.

Sep 13

1 min