David Koenigsberg Black's Legal Cases (3)

Mergers and acquisitions

Sale of HVAC Manufacturer

Nov 07, 2012

OUTCOME: Sale Consumated

Represented the owner of a manufacturer and worldwide distributor of HVAC and A/C equipment in an investment-bank led process that resulted in a $36 million stock sale to a private equity group. Advis ... ed the client and worked with the investment bank in connection with the marketing process, term sheet, diligence, and definitive agreement, including coordination with international offices, to ensure a timely closing before tax rates increased.

Mergers and acquisitions

Sale of Seitlin Insurance to Marsh

Nov 16, 2011

OUTCOME: Sale Consummated

Represented Seitlin Insurance (Seitlin & Company and Seitlin Benefits Corporation) in its sale to Marsh & McLennan Agency. Seitlin Insurance, prior to its acquisition, was South Florida's largest priv ... ately held insurance brokerage firm and one of the Top 100 insurance brokers in the United States. Marsh & McLennan Agency is a wholly-owned subsidiary of Marsh & McLennan Companies, the world's largest insurance and consulting company. Advised Seitlin Insurance throughout the entire (marketing, letter of intent, definitive agreement and simultaneous signing and closing) sales process and on various corporate and corporate governance issues, including working closely with the Company's ESOP independent fiduciary, financial advisors and counsel.

Real estate

Acquisition and Restructuring of Largest Hotel in Pittsburgh

Jun 08, 2011

OUTCOME: Acquisition and Restructuring (as to both debt and flag) successful

Represented the successful plan proponent in a series of reorganization transactions for the largest hotel in Pittsburgh that included our client’s acquisition of all the equity in the debtor. These tr ... ansactions included: (a) restructuring the hotel’s senior secured financing under BlackRock Capital’s $49.6 million loan, (b) negotiating and implementing a new Franchise Agreement followed by a Hotel Management Agreement with Wyndham Hotels, (c) consummating $8 million of additional financing from Wyndham, secured by the Hotel’s equity, (d) placing up to $11 million in junior mortgage financing from our client as Plan Proponent, and (e) resolving other secured and unsecured claims.

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