Olshan Represents George Feldenkreis in Perry Ellis Acquisition
Olshan client George Feldenkreis, founder and former Executive Chairman of Perry Ellis International, successfully completed the acquisition of Perry Ellis through a $437 million transaction in which it will become a private company. Under the terms of the Feldenkreis merger agreement, Perry Ellis’ unaffiliated shareholders will receive $27.50 per share in cash. The transaction was financed through equity provided by the Feldenkreis family, a Senior Secured Asset Backed Revolving Loan Facility underwritten by Wells Fargo Bank, N.A., PNC Capital Markets LLC and HSBC Bank USA, National Association and a multi-tranche term financing facility provided by affiliates of Fortress Investment Group. Moving forward as a private company, Perry Ellis will focus on the long-term strategy of owning and operating brands. The Olshan team that represented the Feldenkreis family was Corporate: Steve Wolosky, Elizabeth Gonzalez-Sussman, Michael Neidell, Claudia Dubon, Jason Cabico, Mohammad Malik, Lauren Irby and Madison Wiles-Haffner; Tax: Mark Limardo, Jason Tomitz and Alan Fenyes; Intellectual Property: Steven Gursky and Mary Grieco; Real Estate: Steven Gursky, Stephen Pacicco and Justin Drazin; Employment: Michael Passarella; Employee Benefits: Stephen Ferszt; and Litigation: Lori Marks-Esterman. View the press release here.