Latham & Watkins Represents MES Intermediate, Inc. in Divesture of Alleged PFAS-Related Liabilities

MES Intermediate, Inc. (MES), a trusted supplier of critical safety equipment to at-risk workers, announced the completion of a permanent divestiture of certain non-operating subsidiaries, including Municipal Emergency Services, LLC, that hold legacy product liability claims. These subsidiaries have been divested to Mustang ES Holdings, LLC , an affiliate of a third-party liability management firm. As a result of this transaction, which has been structured to provide a comprehensive solution for alleged PFAS-related liabilities, the company has permanently divested alleged legacy liabilities from its balance sheet relating to per- and polyfluoroalkyl substances (PFAS) claims held by the divested subsidiaries. Pursuant to the transaction, Mustang has assumed responsibility for the go-forward management and resolution of these alleged legacy PFAS matters, including the administration of related insurance assets.

The landmark transaction is the first-of-its-kind focused on PFAS-liabilities.

Latham & Watkins LLP represented MES in the transaction with a Restructuring & Special Situations team led by partners Jeff Bjork and Helena Tseregounis and counsel Chris Craige. Advice was provided on corporate matters by partner Daniel Mun and counsel Jessica Pisani; and on finance matters by partner Mark Morris and counsel Jonathan Shih; on tax matters by partner Joseph Kronsnoble; and on insurance matters by partner Brook Roberts.