SAN FRANCISCO – Feb. 5, 2015 – The international law firm Greenberg Traurig, LLP, represented Charlesbank Capital Partners (Charlesbank) in its $1.5 billion acquisition of Memphis-based Varsity Brands, including its three businesses, Herff Jones, Varsity Spirit, and BSN SPORTS.
Based in Boston and New York, Charlesbank is a private equity investment firm focused on management-led buyouts and growth capital financings. Varsity Brands’ businesses have combined sales of $1.2 billion and more than 1,000 sales professionals serving the kindergarten through college market.
“Charlesbank sought to build upon its prior experience in the education market and saw in Varsity Brands a unique opportunity consistent with its focus on the middle-market,” said Marc Baluda, co-chair of Greenberg Traurig’s ESOP Group. “We are pleased to have been a part of this transition.”
Greenberg Traurig’s transaction team was led by shareholders Marc Baluda (San Francisco), Brandon Feingold (Boca Raton), and Jeffrey Kahn (Boca Raton). The firm provided counsel in the areas of stock acquisition and redemption from the ESOP, employee benefits, and other matters related to Charlesbank’s acquisition transaction. Goldman Sachs Bank USA, Barclays, Ares Capital Corporation, and Crescent Mezzanine provided debt financing commitments for the transaction.
Read the press release issued by Charlesbank.