On September 9, 2003, Boston-based Euro-Pro Operating LLC acquired the businesses of Euro-Pro Corp. and Omega Sewmac Inc., two Canadian-based designers, marketers and worldwide distributors of floor care and steam cleaning products, garment care products and small kitchen appliances. The value of the deal is undisclosed.
The buyer is a newly formed company, jointly owned by Weston Presidio Capital, a leading private equity fund based in Boston and San Francisco, and the founders and management of Euro-Pro and Omega. The management group and Weston Presidio provided the equity to finance the acquisition, and GMAC Commercial Finance LLC in New York and American Capital in Bethesda, Maryland, provided senior debt financing and a group including Massachusetts Mutual Life Insurance Company provided a subordinated note facility. Edgeview Partners LLC in Charlotte, North Carolina acted as exclusive agent and investment banker for Euro-Pro and Omega.
Euro-Pro and Omega were represented in Canada by Davies Ward Phillips & Vineberg LLP, with a team led by Daniel Miller, Paul Harris and Janet Ferrier (corporate), and including Nathan Boidman and Alan Shragie (tax) and David Lallouz (corporate) in Montreal, Beth Tractenberg, Pamela Goldfarb and Jennifer Toone in New York and Julie Lane in Toronto; and in the US by Alston & Bird LLP in Charlotte, with a team led by Mark Kelly and including Lee Rimler, Chip Simmons, Lisa DeBarber and Chad Warpula.
Weston Presidio was represented by Bingham McCutchen LLP in Boston and Palo Alto, California, with a team that included Johan Brigham, Julie Scallen, Marion Barish, Donald-Bruce Abrams, Viveka Rydell, Liisa Nogelo, Chandler Tyson, Mahvesh Qureshi, Jason Ketchen and Michael Ross.
GMAC Commercial Finance was represented by Vedder, Price, Kaufman & Kammholz in Chicago, with a team that included Michael Nemeroff, Paul Hoffman, David Kaminski, Adam Lewis and Dana Armagno. American Capital Financial Services was represented by O’Melveny & Myers LLP in Los Angeles, with a team that included Tom Baxter, Joe Kim, Donald Rolfe and Nicole Herron Kolhoff.
The senior lenders were represented in Canada by Mendesohn in Montreal, with a team that included Judie Jokinen, Pascal Renaud and Marco Rodrigues. Massachusetts Mutual and the other subordinated lenders, John Hancock Life Insurance Company, Pheonix Life Insurance Company and UnionBanCal Equities Inc., an affiliate of Union Bank of California, were represented by Choate, Hall & Stewart in Boston, with a team that included W. Brewster Lee, T.J. Murphy and Mary Parent.