The Gowling WLG-led Thane International Inc. management buy-out and debt-to-equity conversion transaction (in a turnaround context) has received the award for Consumer Discretionary Deal of the Year (Over $50MM to $100MM) at the 11th annual Turnaround Awards, presented by The M&A Advisor.
Acting for a syndicate of senior lenders BMO, HSBC and National Bank, the Gowling WLG team played a pivotal and lead role in structuring, negotiating and executing the deal, which was finalized in 2015. The firm is pleased to have worked alongside a number of leading Canadian accounting, turnaround and law firms, along with legal counsel from around the globe, to bring this complex transaction to a successful close.
Gowling WLG’s team was led by David Cohen, who later this month will accept the award at a gala event as part of the 2017 Distressed Investing Summit in Palm Beach, Florida.
Other professionals involved in this transaction include Leila Burden Nixon, Kelby Carter, Ash Gupta, Frank Lamie, Clifton Prophet and Faran Umar-Khitab.
Each year, the Turnaround Awards identify the top firms and largest deals in the distressed investing and restructuring sector. Nominees are distinguished by their industry peers and winners are chosen by an independent jury of experts.
With senior practitioners located across the country, Gowling WLG’s Restructuring, Bankruptcy & Insolvency Group is one of the largest of its kind in Canada. The firm’s lawyers have been involved in some of Canada’s most complex and high-profile domestic and global cases across a range of industries, with the depth and reach to assist clients wherever their needs arise.