NEW YORK (December 15, 2011) — International law firm McDermott Will & Emery LLP has received back-to-back awards recognizing the Firm’s work on behalf of Fila Korea Ltd. and Mirae Asset Private Equity (Mirae) in connection with their landmark $1.2 billion of Acushnet golf business (i.e., Titleist, Pinnacle and Foot Joy brands) from Fortune Brands, Inc. (NYSE:FO).
McDermott received the “Transaction of the Year” award in the "Consumer and Retail Products Deal of the Year ($250 million and over)” category by The M&A Advisor and the "Best Korea Deal 2011" award by FinanceAsia magazine. Fila Korea Ltd. is the owner of the Fila® brand globally and Mirae Asset Private Equity is one of the largest private equity firms in Korea. The deal represents one of the largest outbound M&A deals emanating from Korea to date.
“We are extremely honored to be recognized as a leader in the M&A market by both The M&A Advisor and FinanceAsia for our role supporting Fila Korea and Mirae on this important cross-border M&A transaction,” said David Goldman, head of McDermott’s Corporate Advisory practice group. “This ground-breaking deal was successful in large part due to McDermott’s Korea Practice Group which has deep roots working with Korean businesses and directly with Korean government agencies. We are studying quite closely the opportunities presented by the US-South Korean Free Trade Agreement and are very enthusiastic about these opportunities.”
In addition to representing Fila Korea and the Mirae team in the acquisition, McDermott also advised on the financing for the transaction, which included equity financing from Fila Korea, Mirae and other co-investors, as well as a senior bridge facility and a revolving credit facility from Korea Development Bank. The Firm continues to gain both national and international recognition as a top legal adviser throughout the U.S., Europe and Asia.
The McDermott team was led by partners Tom Conaghan, David Goldman and Paul Kim, and included lawyers in the Firm’s corporate, M&A, antitrust, intellectual property, environmental, employment and labor groups from the Firm’s New York, London, Boston, Orange County, Washington, D.C., Brussels, Paris, Munich, Milan and Rome offices. Additionally, lawyers from MWE China Law Offices in Shanghai served as part of the deal team.
McDermott’s Corporate Advisory Practice Group represents a wide spectrum of business interests around the world, from Global 50 companies to venture backed start-ups, as well as the financial institutions that support them. The team is compromised of highly skilled and collaborative business lawyers focused on solving complex business problems and acting as strategic partners in the execution of clients' strategic M&A initiatives and capital raising plans.
Since 1998, The M&A Advisor has been presenting, recognizing the achievement of and facilitating connections between the world’s leading mergers and acquisitions, financing and turnaround professionals. The 10th annual "M&A Advisor Awards," which took place on December 13th in New York City, celebrated the accomplishments of the top M&A professionals of the year. A record 389 nominations representing over 500 companies were submitted for consideration for this year’s awards.
The FinanceAsia Achievement Awards are the industry standard for recognizing excellence in Asian finance. Awards are given to the best equity, debt or M&A deals from each country in the region. The awards ceremony will take place in Hong Kong on February 2, 2012.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, the Firm has offices in Boston, Brussels, Chicago, Düsseldorf, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Silicon Valley and Washington, D.C., and a close strategic alliance with MWE China Law Offices in Shanghai.