Locke Lord Partners David Taylor and Michelle Earley led a group of Firm lawyers who provided legal counsel to Team, Inc. in the planned acquisition of all of the outstanding shares of Furmanite Corporation. The stock-for-stock transaction is valued at approximately $335 million. Under the proposed deal terms, Furmanite stockholders will receive 0.215 shares of Team stock for each share of Furmanite stock. According to Team’s news release, “The combined company will be a premier NDT inspection and specialty mechanical services company with a strong presence in North America, and will comprise more than 8,300 employees and 220 locations in 22 countries. The combination will approximately double the size of Team's mechanical services capabilities and establish a deeper, broader talent and resource pool that better supports customers across standard and specialty mechanical services.”
Assisting Taylor and Earley on the transaction were Houston Partners Ed Razim and Hanna Norvell; Houston Associates Laura Ferguson, Ben Smolij and Iliana Ivanova; Dallas Partner Van Jolas; and Washington, D.C. Partner Steve Murphy.
Posted November 4, 2015