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Latham Advises Survitec Group on £450 Million Restructuring and CFIUS Clearance

September 22, 2020
Cross-border team represents global safety and survival equipment business in debt and equity restructuring and regulatory approvals.

Latham & Watkins advised Survitec Group (Survitec), a global safety and survival solutions leader, in relation to its £450 million debt and equity restructuring which successfully completed in August 2020. The restructuring included a significant deleveraging for the business, the acquisition of the group by its lenders, and the provision of new money facilities to fund the management business improvement plan.

Survitec’s restructuring received all the necessary regulatory approvals from various jurisdictions, including clearance from the Committee on Foreign Investment in the United States (CFIUS) in connection with the restructuring of Survitec’s existing debt and the acquisition of Survitec by a consortium.

Latham’s restructuring team was led by London finance partners Simon Baskerville and Yen Sum, with associates Tristram Gargent, Stephen Kennedy, David Cooper-Parry, and Maria Holzhammer.

Latham’s CFIUS and national security team was led by Washington, D.C. partner Les Carnegie and counsel Rachel Alpert, with associates Andrew Galdes, Brittany Ehardt, and Jay Winkelman.