Citizenship Issues
One of Brian's marine equipment lender clients was considering making a multimillion-dollar loan to a marine company that had recently been acquired by a private equity firm. After analyzing the foreign ownership of the private equity firm, Brian determined that the proposed borrower was not an eligible documentation citizen or a Jones Act qualified citizen. Assisting in negotiations between his lender client and the borrower, Brian was able to help structure a solution involving a new borrower as the qualified owner, combined with a time charter of the vessels in an economic arrangement that benefited all parties.
Offshore Supply Vessel
Brian D. Bouquet's lender client had committed to loan $33 million to one of its customers for an offshore towing supply vessel. In a complicated transaction involving an IRC §1031 exchange, charter assignment, and loan and ship mortgage challenges, Brian was able to assist his client throughout the loan process and successfully close the loan on favorable terms to the client.
Speed and Results
Representing a publicly traded food products company, Brian D. Bouquet assisted the client in submitting and winning a multimillion-dollar last-minute bid to acquire the assets of a bankrupt peanut butter company. After being contacted on a Friday afternoon, Brian and his team worked over the weekend to draft, negotiate, and execute an asset purchase agreement with the bankruptcy trustee in just three days. Notwithstanding that a court-sanctioned bankruptcy auction had been held the week before and a winning bidder selected, Brian and his partner John Hall were able to secure the deal, obtain bankruptcy court approval of the sale, and close the transaction, all within 12 days from the first phone call from the client.
Challenging Conditions
Representing a publicly traded consumer products company, Brian was presented with the challenge of representing the seller of a commercial equipment company with declining sales and operating losses. Brian and his team were able to negotiate a favorable asset sale agreement and close the sale despite continued deterioration in the financial performance of the target.
Recapitalization
Brian recently represented G.H. Tool & Mold, Inc. (G.H. Tool) in connection with its majority recapitalization with Tooling Technology Holdings LLC (Tooling Tech), a portfolio company of GenNx360 Capital Partners (GenNx360). The deal closed in October 2015. Founded in 1983 and headquartered in Washington, Missouri, G.H. Tool manufactures tooling and molds for tier-one suppliers and original equipment manufacturers (OEMs) across various end-markets, including automotive, aerospace and defense, outdoor products, and energy. Brian and his team assisted with evaluating offers and negotiated the equity interest purchase agreement and related documents over the course of several months. Said Gerry Hellebusch, founder and CEO of G.H. Tool, "Brian Bouquet and the Lewis Rice team vigorously represented our interests as seller while at the same time not losing sight of my goals to provide for our employees, customers, and suppliers going forward. We valued his advice and counsel throughout the entire transaction."
