International law firm McDermott Will & Emery represented American Builders & Contractors Supply Co., Inc. (“ABC”) in connection with the financing of ABC’s acquisition of L & W Supply Corporation (“L&W Supply”), a Delaware corporation, from USG Corporation (United States Gypsum Corporation) (“USG”) and refinancing of ABC’s existing term loan credit facility, which included the structuring, negotiation and execution of a new $1.875 billion senior secured term loan facility.
Deutsche Bank AG New York Branch acted as administrative agent, certain financial institutions acted as lenders and Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets acted as joint lead arrangers.
In August 2016, ABC entered into a Sale and Purchase Agreement with USG, the holder of all of the outstanding capital stock of L&W Supply. Pursuant to the terms and conditions of the Sale and Purchase Agreement, ABC purchased from USG all of the outstanding capital stock of L&W Supply for an aggregate purchase price of $670 million in cash.
ABC is the largest wholesale distributor of roofing in the United States and one of the nation’s largest distributors of siding, windows and other select exterior building products, tools and related supplies.
The McDermott team which advised ABC on the financing included partners Stephanie McCann and Kathy Schumacher and associates George Houhanisin, Jeffery Stephens and Carly Knue.
McDermott’s Corporate & Transactional Practice represents business interests around the world, from global corporations and industry-leading companies to privately funded and entrepreneurial driven enterprises, as well as the financial institutions that support them. McDermott consistently ranks in the leading league tables, including Mergermarket, Thomson Reuters, Bloomberg and PitchBook. The Corporate & Transactional Practice Group was named “Team of the Year” for Middle Market M&A/Buyouts by The Legal 500 and is highly ranked by Chambers in the United States, Germany and the United Kingdom.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.