Tej Prakash

Willkie represented Resideo Technologies, Inc., a leading global provider of home comfort, life safety and security solutions, in the sale of its Genesis Cable business to Southwire Company, LLC. On September 19, Resideo Technologies announced a definitive agreement for the sale of Genesis Cable, a low-voltage wire and cable manufacturer based in Pleasant Prairie, WI, to Southwire Company, one of North America’s largest wire and cable producers. The transaction is valued at approximately $87.5 million. Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety and security solutions to over 150 million homes globally. Willkie previously advised Resideo on numerous transactions, including its acquisition of First Alert in 2022. The Willkie team was led by partners Tej Prakash and Russell Leaf and included associates M. Scott Greenberg and Kevin Lopez.

Sep 20

1 min

Willkie represented Resideo Technologies, Inc. (NYSE: REZI), a leading manufacturer and distributor of technology-driven products and solutions, in its $1.4 billion acquisition of Snap One Holdings Corp. (Nasdaq: SNPO), a leading provider of smart-living products, services, and software to professional integrators. On April 15, Resideo and Snap One announced a definitive agreement pursuant to which Resideo has agreed to acquire Snap One for $10.75 per share in cash, for a transaction value of approximately $1.4 billion, inclusive of net debt. Upon closing, Snap One will integrate into Resideo's ADI Global Distribution business. The acquisition will combine Snap One's capabilities for smart living integrators with ADI's complementary position in adjacent security products distribution. The transaction will be financed, in part, through the issuance of $500 million of convertible perpetual preferred stock by Resideo to affiliates of Clayton, Dubilier & Rice, LLC. The transaction is expected to be completed in the second half of 2024, subject to customary closing conditions. Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety and security solutions to over 150 million homes globally. Through its ADI Global Distribution business, Resideo is also a leading wholesale distributor of professionally installed electronic security and life safety products for commercial and residential markets, and serves a variety of adjacent product categories including audio visual, data communications, and smart home solutions. Willkie previously advised Resideo on numerous transactions, including its sale of Genesis Cable in 2023 and its acquisition of First Alert in 2022. The Willkie team was led by partners Russell Leaf, Jared Fertman, Tej Prakash and Sean Ewen.

Apr 15

1 min

Willkie advised Victory Capital Holdings, Inc. (NASDAQ: VCTR) in its strategic partnership with Amundi that combines Amundi US (formerly Pioneer Investments) into Victory Capital, establishes Amundi as a strategic shareholder of Victory Capital, and puts in place long-term global distribution agreements. On July 9, Victory Capital announced that it executed definitive agreements with Amundi for the strategic partnership. Under the proposed transaction, Amundi will contribute Amundi US into Victory Capital in exchange for a 26.1% economic stake in Victory Capital. In addition, Amundi and Victory Capital entered into reciprocal 15-year distribution agreements, effective as of the closing. Under the distribution agreements, Victory Capital will exclusively supply US active asset management products for Amundi’s distribution outside of the US, and Victory Capital will become the exclusive distributor of Amundi’s non-US products in the US. Amundi, a publicly listed subsidiary of the Crédit Agricole group, is the leading European asset manager with more than €2 trillion of assets under management. Victory Capital is a diversified global asset management firm with total assets under management of $168.5 billion, and $173.4 billion in total client assets, as of May 31, 2024. The Willkie team was led by partners David Boston and Danielle Scalzo and included partners Tej Prakash, Justin Browder and Brian Baltz and associate Robert Quinn.

Jul 10

1 min

Willkie represented the underwriters in the $577 million initial public offering of Ibotta, Inc. (NYSE: IBTA), a leading technology company providing digital promotions and performance marketing solutions. On April 17, Ibotta announced the pricing of its initial public offering of 6,560,700 shares of its Class A common stock at a public offering price of $88.00 per share. In connection with the offering, which closed on April 22, 2,500,000 shares of Class A common stock were sold by Ibotta and 4,060,700 shares of Class A common stock were sold by certain selling stockholders. The selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 984,105 shares of Class A common stock. Willkie clients Goldman Sachs & Co. LLC, Citigroup and BofA Securities acted as joint lead book-running managers for the offering. The Willkie team was led by partners David Boston and Tej Prakash with associates Candace Mashel and Nicholas Maetta.

May 16

1 min

Willkie advised Bluestar Alliance, LLC, a New York-based brand management company, on its acquisition of Off-White LLC, a luxury streetwear brand founded by designer Virgil Abloh, from LVMH. On September 30, Bluestar Alliance announced that it acquired the Off-White brand, which creates seasonal men's and women's clothing collections, objects, furniture, and publications. Bluestar Alliance owns, manages, and markets a portfolio of consumer brands that span many tiers of distribution with a heavy emphasis on department store retail brands. The Willkie team was led by partners Gregory Astrachan and Tej Prakash and associate Christian Bonser, and included partners Christopher Peters, Spencer Simon, Jordan Messinger and Luca Leonardi.

Oct 2

1 min