November 16, 2018

Milbank Advises Initial Purchasers and Lenders on the Financing of The Carlyle Group and Investindustrial’s Acquisitions of Flos, B&B and Louis Poulsen

Share

Milbank LLP has advised the initial purchasers and lenders in connection with the offering of €400 million aggregate principal amount of 6.50% Senior Secured Notes due 2025 and €320 million aggregate principal amount of Senior Secured Floating Rates Notes due 2025 by International Design Group S.p.A. and the related super senior revolving credit facility.

The gross proceeds from the offering will be deposited into segregated escrow accounts. Upon release from escrow, the gross proceeds from the offering will be used, among other things, to fund part of the purchase price for the acquisition of the Flos, B&B and Louis Poulsen groups and to repay substantially all of their existing external debt.

International Design Group S.p.A. is beneficially owned by funds advised by The Carlyle Group and Investindustrial. Following the acquisitions, International Design Group S.p.A. is expected to be the largest global design company by revenue, bringing together three leading companies in the high-end furniture and lighting design market. Flos is one of the world’s leading producers of high-end lighting solutions for residential and commercial use, B&B is one of the world’s leading producers of high-end designer furniture for residential and commercial use and Louis Poulsen is a leading global high-end lighting brand with an iconic portfolio focused on Danish design heritage.

The Milbank team was led by London Global Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis, Suhrud Mehta, Alexandra Grant and Rebecca Marques, with special counsel Randy Nahle and associates Laura Bonamis, George Silber, Serguei Chevtchenko, Ignacio Perez Bessio and Sarah Findlay. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Archan Hazra, New York Leveraged Finance partner Michael Bellucci and associate Yoon Hyun Cho, New York Environmental partner Matthew Ahrens and London Tax special counsel Matthew Mortimer.