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September 2018

Gordon & Rees Advises Adams Manufacturing Corp. on Sale to Keter Group, A Portfolio Company of BC Partners

Gordon Rees Scully Mansukhani acted as legal advisor to Adams Manufacturing Corp. (“Adams” or the “Company”) on its sale to Keter US, Inc., a subsidiary of Keter Group (“Keter”), and a portfolio company of BC Partners. Gordon & Rees lawyers provided transactional structuring and transactional advice as well as tax, executive compensation and employee benefits advice and guidance regarding real estate and environmental issues. The Gordon & Rees team effectively negotiated with Linklaters LLP’s NYC, London and Paris offices.  

William E. Adams, III, founder of Adams, commented on the transaction and the involvement of Gordon & Rees:  “We are grateful for what our wonderful associates have accomplished at Adams over the last 40 years. Partnering with Keter is a unique opportunity for Adams to accelerate its development.  We have worked with Craig Heryford as a trusted advisor for more than 20 years and Craig and the team at Gordon & Rees throughout the process of this transaction.  The Gordon & Rees team provided tremendous proactive guidance and advice throughout the transaction.  We are extremely appreciative of their service on our behalf and the personal touch of the entire Gordon & Rees team in taking ownership of the process and leading us to a successful transition."  

Tom Lombardo, CEO of Adams, added, “Gordon & Rees through the leadership of Craig Heryford and Jon Boulahanis provided excellent guidance and tirelessly worked with the management team and financial advisors of Adams in bringing this change of control transaction to a successful and effective closing. Their work on our behalf allowed us to prepare for and close this transaction in an effective and efficient manner.”

Rocky Pontikes, managing director of Mesirow Financial’s Investment Banking group, said, “Mesirow Financial was honored to work with the team at Gordon & Rees in this transaction.  Gordon & Rees showed their ability to bring a personalized touch based on a deep level of understanding their client’s needs with the strength of a national law firm with a strong M&A practice to move effectively and quickly in closing this transaction”

Craig Heryford, partner and national co-chair of the Gordon & Rees business transactions section, said “Gordon & Rees was pleased to work with our friends at Adams to consummate a transformative transaction for Adams and its stockholders. The Company is well positioned to grow and be successful well into the future.”

The transaction represents another successful change of control transaction successfully completed by Gordon & Rees’ business transactions section.  With extensive M&A experience and the depth and breadth of resources necessary to navigate sophisticated transactional waters, Gordon & Rees is a go-to legal resource for business owners considering transformative strategic alternatives. The Gordon & Rees team on this representation was led by partners, Craig Heryford and Jonathan Boulahanis, and associates, Tyler Duff and Gianna Kelly.
 

About Adams Manufacturing Corp.
Founded in 1976 by William E. Adams, III, Adams is a leading manufacturer and distributor of consumer resin products in North America. Over the past 40 years, Adams has established itself as a reputable brand recognized for its quality products and trustworthy customer service. The Company has built solid relationships with blue-chip retailers across the United States. The Company employs approximately 250 people and operates from its base in Western Pennsylvania. To learn more, please visit adamsmfg.com.

About Keter Group
Keter is one of the world’s leading manufacturers and marketers of resin-based household and garden consumer products, which are sold in 90 countries and found in more than 25,000 retail outlets worldwide. With a focus on innovation driven by consumer insights, Keter provides a wide range of furniture, storage and organization solutions. Keter’s ongoing commitment to simplify and enhance the daily lives of consumers has been key to our global success. To learn more, please visit keter.com.

About BC Partners
BC Partners is a leading international investment firm with over €17 billion of assets under management in private equity and private credit. Established in 1986, BC Partners has played an active role in developing the European buy-out market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe. Since inception, BC Partners has completed more than 100 private equity investments in companies with a total enterprise value of circa €130 billion and is currently investing its tenth private equity fund. To learn more, please visit bcpartners.com

About Gordon Rees Scully Mansukhani
Gordon & Rees is a national litigation and business transactions firm with more than 800 lawyers in 52 offices across the United States. Our lawyers provide full service representation to public and private companies ranging from the Fortune 500 to start-ups. Founded in 1974, Gordon & Rees is recognized among the fastest growing and largest law firms in the country. Additionally, in 2018 Law360 ranked the firm among the top 40 largest U.S. firms and The American Lawyer ranked the firm among the top 45 on its Diversity Scorecard.

Jonathan M. Boulahanis
Craig S. Heryford



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