McDermott Advises Union Park Capital in its First Platform Investment, Testing Machines Inc.
CHICAGO (March 27, 2014) — International law firm McDermott Will & Emery LLP represented Union Park Capital (www.union-park.com), a Boston-based private equity firm focused on lower middle-market industrial technology companies, in the funds’ first acquisition of Testing Machines, Inc. (TMI). TMI is a global testing instrumentation manufacturer for the paper, pulp, film, foil, ink, coatings, nonwoven and corrugated industries. Union Park acquired the TMI, Lako Seal Testers, Fibro, Messmer Buchel, TMI Trading (Shanghai) Co., Ltd., and Adamel L’Homargy divisions of The TMI Group of Companies.
The acquisition serves as a launching pad for Union Park’s first platform, which it hopes will drive organic and inorganic growth. This platform focuses on materials and physical testing and is the first phase of a larger, deliberate strategy to build a concentrated portfolio.
“We are honored to have advised Union Park in its acquisition of TMI,” said Ryan Harris, Partner in McDermott’s Corporate Advisory Group and lead lawyer on the deal. “This deal represents a big first move for Union Park towards its larger investment strategy, which will further strengthen its place as a premier lower middle-market industrial technology fund.”
McDermott’s deal team, led by Mr. Harris, also included McDermott partners John Hammond, Jeffrey Wagner, Jennifer Mikulina, Maureen O’Brien, Linda Doyle, David Neville and Thomas Ward. Associates Cole Parker, Rebecca Smith and Brad Wilson assisted in the deal, with valuable support from Ann Kladis.
“We’ve had lots of experience with other attorneys over the years, but always felt something was missing,” said Morgan Jones, founder and Managing Partner of Union Park Capital. “When launching Union Park we decided to start fresh with a new relationship and shopped extensively. With Ryan and his team at McDermott, we found exactly what we were looking for: competence, efficiency and an ability to negotiate hard without alienating the seller. For a relatively small company, the transaction presented an unusual amount of complication, but with Ryan and his team, we were able to get it to the finish line in a compressed timeframe without a hitch”
McDermott Will & Emery’s private equity practice advises a full range of participants – sponsors, investors, lenders, managers, and portfolio companies – in the private equity market. The firm offers a full-service approach to each deal, including a comprehensive offering of highly ranked and recognized practices, such as corporate, tax, antitrust, regulatory, intellectual property, employment benefits and executive compensation, to address the associated issues that may arise with a private equity transaction.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,100 lawyers, we have offices in Boston, Brussels, Chicago, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.