Michael E. Brandt

including cell towers, data centers, fiber, small cells, and edge infrastructure

Sep 8

1 min

Willkie advised HBC on its strategic investment in Convene, expected to create the largest premium flex space operator across the U.S., Canada and Europe. On April 12, it was announced that Willkie client Hudson’s Bay Company (HBC) is taking a majority stake in office-amenities company Convene and combining its existing portfolio of flexible work, event, restaurant and meeting spaces with Convene’s business to create a leading flex space operator. The Private Equity Group of Ares Management Corporation, a leading global alternative investment manager, joined HBC in the strategic investment in Convene. The investment completes Convene’s recapitalization plan and establishes HBC as the majority owner of the combined entity. With 26 facilities under management and dozens more under development, the combined entity is expected to be the largest premium flex space operator across the U.S., Canada and Europe. Willkie previously advised HBC on numerous transactions, including a $500 million equity investment by Rhône Capital, the $850 million sale of the Lord & Taylor Fifth Avenue building to WeWork Property Advisors, and a global strategic arrangement with WeWork. The Firm also represented the Hudson's Bay Company Shareholder Group in its $1.4 billion agreement with HBC to take the company private. Convene is a leading provider of premium meeting and workday experiences with a global network of venues and flexible office locations. HBC is a holding company of investments and businesses at the intersection of technology, retail operations and real estate that includes the iconic Saks Fifth Avenue and Hudson’s Bay department store chains. With assets spanning top markets across North America, HBC owns or controls approximately 40 million square feet of gross leasable area. The Willkie team was led by partners David Drewes, Gregory Astrachan, Viktor Okasmaa and Michael Brandt, and counsel Charlotta Chung.

Apr 25

1 min

Willkie advised Microporous and its majority shareholder in the sale of Microporous, a leading manufacturer of lead-acid battery separators, to Trent Capital Partners. On February 12, 2024, Microporous announced that Trent Capital Partners, a longtime minority owner, purchased full control of the business. The Willkie team was led by partners Michael Brandt and Thomas Spencer and included associates Pablo Benjumea Gutierrez and Patrais Strzelecki.

Feb 12

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 advised Varroc Engineering Limited in the €600 million sale of its automotive lighting business. Willkie client Varroc Engineering Limited, a leading automotive component manufacturer, announced on April 29 that it agreed to sell Varroc Lighting Systems to French automotive supplier Plastic Omnium for €600 million. The transaction encompasses Varroc Lighting Systems’ operations in Europe, the Americas and North Africa, as well as an R&D center in India. The sale is part of Varroc Engineering’s strategy to focus on electric vehicle product lines and the two-wheeler sector globally. Willkie previously advised Varroc on its $92 million acquisition of the automotive lighting business of Visteon Corporation. The Willkie team was led by partners Michael Brandt and Robert Stebbins and included associates Tyler Born and Silvia Smith.

Apr 29

1 min