Steven A. Seidman

On February 13, American International Group (AIG) announced that it entered into a binding memorandum of understanding with Willkie client Stone Point Capital LLC, a leading private equity firm focused on investing in businesses within the global financial services industry, to form an independent Managing General Agency to serve High Net Worth and Ultra High Net Worth markets. AIG’s Private Client Group business will move to this new independent platform and be rebranded as Private Client Select Insurance Services. Completion of the proposed transaction between AIG and Stone Point is subject to negotiation of definitive agreements, obtaining required permits and regulatory approvals. AIG is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions and other financial services to customers in approximately 70 countries and jurisdictions. Stone Point is an investment firm based in Greenwich, CT, with over $45 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The Willkie team was led by partners Steven Seidman and Sean Ewen.

Feb 14

1 min

On April 14, Willkie client Atlas Holdings and Olympus Partners announced the signing of a definitive agreement whereby Olympus will acquire a majority ownership stake in International Wire Group Holdings, Inc. (IWG). Under the terms of the agreement, Atlas will continue as an investor in the company. IWG is the largest non-vertically integrated copper and copper-alloy wire products manufacturer in the U.S. and maintains operations in Europe, all supported by global engineering capabilities. IWG’s broad product portfolio services a wide range of applications in energy, green electrification, industrial, automotive, aerospace, data communications and other major markets. Willkie previously advised Atlas in its acquisition of IWG in 2019. The Willkie team was led by partners Steven Seidman, Mark Cognetti and Laura Acker and included associates Brittany Klinger and David Araoz.

Apr 18

1 min

On June 1, Willkie client Lakeside Book Company announced that it acquired all of the issued and outstanding shares of Marquis Book Printing, Inc. Marquis is a premier book manufacturer in Canada providing high-quality print services to the publishing and communications industries in Canada, the United States and Europe. With this acquisition, Lakeside will enhance its service offering with access to the Canadian market, while improving lead time and overall service capabilities for small and large publishers alike. Willkie previously advised Atlas Holdings in its acquisition in 2020 of LSC Communications, the book division of which became Lakeside Book Company, and subsequently advised Lakeside Book Company in its acquisition of Phoenix Color Corp. in 2022. The Willkie team was led by partners Steven Seidman, Mark Cognetti and Laura Acker and included associates David Araoz and Ryan Chambers.

Jun 8

1 min

On December 12, Liberty Media Corporation announced that it had entered into an agreement with Sirius XM Holdings, Inc. to split-off Liberty’s SiriusXM business in a transaction that will result in SiriusXM, the leading audio entertainment company in North America, operating as an independent public company under the ticker symbol “SIRI” on the Nasdaq Global Select Market. Willkie represented Solomon Partners, who served as financial advisor to the Special Committee of Sirius XM Holdings, Inc. in connection with the transaction. The redemptive split-off will eliminate SiriusXM’s current tracking stock structure, with the holders of Liberty’s SiriusXM tracking stock (NASDAQ: LSXMA, LSXMB and LSXMK) receiving shares of the new SiriusXM on a 1-for-1 basis. The transaction is expected to be completed in the third quarter of 2024, subject to satisfaction of closing conditions. The Willkie team was led by partners Steven Seidman and Sean Ewen, and included associate Ian Morganelli.

Dec 12

1 min

On February 8, Willkie client Blue Wolf Capital Partners announced that it acquired Sterling Site Access Solutions, a leading, vertically integrated provider of temporary ground protection and site access services. Founded in 1949, Sterling is one of the largest providers of mission critical site access solutions in North America. It serves blue-chip customers in the power transmission and distribution, civil infrastructure, and energy sectors. Blue Wolf Capital Partners is a New York-based private equity firm that invests in buyouts, recapitalizations, and growth capital opportunities in middle market companies. The Willkie team was led by partners Steven Seidman, Laura Delanoy and Justin Sommerkamp.

Feb 10

1 min