Edwards Wildman Team Leads Merger of Vision Insurance Companies
In July 2013, an Edwards Wildman deal team led by Andrew Hughes and Paul Mahoney of our Providence office represented clients Nautic Partners, a private equity firm with more than $2.5 billion of capital under management, and Superior Vision, a Nautic Partners portfolio company based in California, in Superior Vision’s execution of a merger agreement providing for the acquisition of Block Vision, a Maryland-based national provider of vision insurance coverage.
Edwards Wildman then guided Superior Vision to a November 2013 closing through the satisfaction of the merger agreement closing conditions, negotiating and entering into a restated credit facility, and obtaining approval from various state insurance commissions. With the acquisition complete, Superior Vision now stands a leader in the vision care benefits market, providing such benefits to more than 8.5 million members nationwide.
Joining Andrew and Paul, Edwards Wildman marshalled the broad subject matter expertise of attorneys in various offices to complete this transaction. Michael Griffin of our Hartford office provided Superior Vision with insurance regulatory advice and navigated the client through the process to obtain regulatory approval from various state insurance commissions, with key assistance from colleagues Julie Mahaney, A.J. Kritzman, Amber Mills and Zach Lerner. Jim Rubens of our Boston office led the negotiation and documentation of the Company’s restructured credit facility. Invaluable and timely counsel was provided by Chris Flanagan and Katie Day (both of Boston) on tax matters; Ralph Loren (Boston) on intellectual property; Ben Ferrucci (Boston) on benefits and employee compensation; David Szabo (Boston) on healthcare and privacy; Anjuli Shukla (Providence) on due diligence; and Andrew Capalbo (Providence) on executive employment agreements.
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