H.I.G. Capital Acquires Teleflex's Marine Business

On March 22, 2011, H.I.G. Capital, LLC, a leading global private investment firm, acquired the Marine business from Teleflex Incorporated.

Financing for this acquisition was made available by certain lenders pursuant to a Financing Agreement, among, inter alia, Marine Acquisition Corp., as American borrower, TM Canada Acquisition Corp., as Canadian borrower, Marine Acquisition Holdings, Inc. (the “Parent”) as parent, certain subsidiaries of the Parent as guarantors, Wells Fargo Capital Finance, LLC, as administrative agent for the lenders and Ableco Finance LLC as collateral agent for such lenders in an amount of US$95,000,000.

In connection with the Financing, Ableco Finance LLC was represented by Blake, Cassels & Graydon LLP with a team that included Daryl Clark, Bahar Hafizi and Preetpal Bhamra in Canada and by Schulte Roth & Zabel LLP with a team that included Eliot Relles, Rami Kidouchim, Brett Sheats and David Arnstein in the United States.

The Parent and its subsidiaries were represented by McDermott Will & Emery LLP with a team that included Gary Rosenbaum, Bryan Swatt, Jean LeBlanc, Brooks Gruemmer, Daniel Zucker, Maureen O'Brien, Mark Bilut, Thomas Hefty, Elijah Hammans, Cole Parker and David Neville in the United States; and in Canada by Border Ladner Gervais LLP with a team that included Magnus Verbrugge, Ken Andersen, Sonia Mak and Tai Cheng.