Had a somewhat obscure question about names for specific structures in deals. Let's say you have BuyerCo and SellerCo. SellerCo has a subsidiary, OpCo. BuyerCo purchases OpCo for equity, and now SellerCo has some % minority equity interest in BuyerCo - this new entity is CombinedCo. Is there a name for this structure / deal type?
Next, a financial sponsor recapitalizes CombinedCo with a mix of debt and new equity, but specifically buys out most of BuyerCo's interest. SellerCo rolls their equity over, and now BuyerCo has a minority interest in the equity ownership. Is there a name for this structure / deal type?
Trying to figure out how I can succinctly put this on my resume, anything would help. Right now I'm just saying "recapitalization of a company following purchase of another company's subsidiary"
...which part of the transaction did you work on?
We are advising the acquiror of the subsidiary (BuyerCo) and subsequently talking to sponsors about the full recap (although it feels like they are more talking to us; we've received several unsolicited bids for BuyerCo standalone and then one proposal for the full recap, the latter of which I think we prefer at this point)
I would just say something like...."advised buyer on $xmm acquisition of subsidiary of leading [conglomerate] and subsequent sale of majority interest in acquired business to financial buyer." Your focus should not be on the recap because you are not advising the sponsor.
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