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A Cool Private Equity Deal for Corinthian Capital

Key Facts

  • Multifaceted, international transaction
  • Highly experienced New York private equity team

The Situation

Back in 2012, Mintz represented private equity firm Corinthian Capital Group, LLC in its acquisition of Friedrich Air Conditioning Co., Ltd., the leading North American manufacturer of premium air conditioning products for the hospitality, commercial, and residential markets. When an opportunity arose to sell Friedrich to Monomoy Capital Partners, Corinthian turned again to our Private Equity team.

The Approach

Mintz has a long tradition of serving as trusted legal and business advisors to private equity and venture capital firms. We have completed hundreds of transactions for private equity sponsors and their portfolio companies — handling initial and bolt-on acquisitions, sales, financings, recapitalizations, restructurings, and commercial agreements for companies in a variety of industries.

Two senior attorneys in our New York office — New York Corporate & Securities Practice Head Stephen Gulotta and Member Charlotte Edelman — took the lead on this sale. Their cross-disciplinary legal team included counsel with significant experience handling private equity deals.

The transaction was highlighted by a number of unique issues centered on the treatment of transaction expense tax benefits, special escrows, environmental matters, and third-party indemnities. In addition, because Friedrich’s primary manufacturing facilities are located in Mexico, the deal involved international legal and business considerations.

The Outcome

This sale is the latest in a series of successful transactions that the firm has handled for this private equity client. In addition to representing Corinthian in its earlier acquisition of Friedrich, we handled its sale of Wolf-Gordon, Inc. to Saw Mill Capital. Wolf-Gordon is a design company providing wallcovering, upholstery, drapery textiles, and paint.

Supporting Professionals