Lawfuel – Law Deals – Law Jobs – Lovells acted for Mizuho and UBS in financing a partnership investment by global private equity firms Vestar Capital Partners and The Carlyle Group in AZ Electronic Materials. Subject to regulatory approvals, the acquisition is expected to close by the end of March.
AZ was previously acquired by Carlyle from Clariant in 2004, a deal in which Lovells also advised the financing bank Mizuho. The electronic materials supplier will now be jointly owned by Vestar and Carlyle as equal partners, alongside AZ’s management team led by CEO Thomas von Krannichfeldt. Financial details of the acquisition were not disclosed.
Comment: Although Lovells has previously advised Mizuho, this is the first acquisition finance instruction for UBS for the banking practice.