CHICAGO (June 17, 2008) — McDermott Will & Emery represented private equity firm Bayside Capital in connection with the acquisition of AirNet Systems, Inc. (AMEX: ANS), an integrated national transportation service provider. The all cash going private transaction closed on June 10, 2008.
The McDermott acquisition team was led by Brooks Gruemmer and included Sam Wales, Kate Edwards, Steve Miller, Brett Johnson, Mark Bilut, Linda Doyle, Jeff Wagner and John Bisbikis. The McDermott financing team was led by Michael Boykins and included John Hammond.
McDermott Will & Emery is an 1,100 attorney firm representing global clients in complex transactional matters. McDermott's private equity group advises buy-out funds, venture capital firms, hedge funds, real estate funds and other alternative investment vehicles, doing business principally in the U.S., European and Asian markets. Lawyers based in our U.S. and European offices have played a leading role in hundreds of private equity transactions, for both public and private companies, ranging in size from less than $100 million to more than $45 billion. McDermott's strategic alliance with MWE China Law Offices in Shanghai provides additional private equity experience.
Bayside Capital, which manages a $500 million special situations fund, invests in the debt and equity of middle market companies that can benefit from operational enhancements, improved access to capital, or balance sheet realignments. Bayside Capital is an affiliate of H.I.G. Capital, a leading private equity investment firm specializing in acquisitions and recapitalizations of middle market businesses. Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. Since its founding, H.I.G. has completed more than 75 transactions and currently manages a portfolio of more than 50 companies with combined revenues of more than $5 billion. For more information, please refer to the websites at www.higcapital.com and www.bayside.com.