As the second quarter comes to a close, Kurtz and Partners P.C. (“K&P”), the Philadelphia LAW affiliate, is pleased to summarize some of its recent merger & acquisitions transactions:

  • K&P represented Josam Company, a leading provider and manufacturer of drainage and plumbing products, in its sale to Watts Water Technologies, Inc. (NYSE: WTS), a global manufacturer of plumbing, heating, and water quality products.  This was a complex transaction involving manufacturing facilities across multiple U.S. States, employee considerations and Subchapter F reorganization, among other nuances.  We were pleased to lead our client to a successful exit from this multi-generational business.  See press release here.
  • K&P represented Garnet Captive Insurance Services, a provider of alternative risk consulting and group captive program administration services, and certain of its affiliates, in a sale to Strategic Risk Solutions, Inc., the world’s largest independent insurance company manager.  The transactions involved complex preclosing restructuring and were affected through a mix of cash consideration and a tax-free interest rollover for certain participating members.  See press release here.  The insurance captive space is a very specialized industry in which K&P has substantial experience (see additional example from last year related to a strategic investment by Warburg Pincus with K&P’s client ParetoHealth, detailed here).
  • K&P represented a buyer group with respect to its purchase of Bernie Robbins Jewelers, a storied Philadelphia-area jewelry business with a history dating back to 1962.  The buyer group consisted of a select group of long-time employees.  This was a sensitive transaction involving a new partnership among the buyer principals, negotiation of loan documents with a new lender and transition of a business from its original founding family.  The transaction was heavily covered by the Philadelphia Inquirer and the Philadelphia Business Journal, among other local publications.
  • K&P continues to represent Fearless Restaurants in its portfolio expansion throughout downtown and suburban Philadelphia, which has included acquisition of former restaurants (both business assets and real estate), debt financing, leasing, construction/fit-out and corporate/organizational matters, among other components.  The Fearless-branded restaurants are extremely popular and well-regarded, proudly showcasing several existing concepts in the Philadelphia region and the New Jersey Shore, and four new eateries presently under development (see details).

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