Milbank LLP is advising SEACOR Holdings Inc. (NYSE: CKH) (“SEACOR”) in a definitive agreement with an affiliate of American Industrial Partners (“AIP”), a New York-based private equity firm that focuses on buying, improving, and growing industrial businesses, to acquire SEACOR. The all-cash transaction is valued at approximately $1 billion. The proposed transaction is expected to close by the end of the first quarter of 2021.
Under the terms of the agreement, AIP will commence a tender offer to acquire all outstanding shares of SEACOR for $41.50 per share in cash. The agreement was approved by SEACOR’s board of directors and they recommend that SEACOR stockholders tender their shares in the offer.
SEACOR engages in transportation and logistics, risk management consultancy, and other businesses in the United States and internationally.
The Milbank deal team was led by Global Corporate partner Scott Golenbock and includes associates Amy Kletsel, Jonathan Schwartz and Stephen Tomasulo. The team also included, Executive Compensation partner Mike Shah and associate Kelly Bartley, Global Capital Markets partner Brett Nadritch and associate Amanda Martin, Tax partner Max Goodman and associate Archan Hazra, Environmental partner Matt Ahrens and Global Leveraged Finance partner Michael Bellucci and Christopher Hahm.
Our recently deceased partner David Zeltner, who had a decades-long relationship with SEACOR, advised on the transaction before his passing last week.
