Varnum Represents Privately Owned Company in PE Firm Sale, Rollover Investment
Varnum represented a privately-owned maker of luxury wool carpets for the architectural design trade in its recapitalization involving a sale of assets to a Chicago-based private equity firm. The deal also included rollover investment by the client company owners. Varnum provided counsel in the areas of tax, real estate, labor, and employee benefits, and specifically negotiated and drafted the transaction agreements on the client’s behalf. The client company owners retained a significant stake in the recapitalized company and continue to operate the business. The deal was valued at $41.5 million.