Newsroom
News
Press Release

White & Case Advises Avon Rubber on Acquisition of Team Wendy for US$130 Million

Global law firm White & Case LLP has advised Avon Rubber p.l.c. on its agreement to acquire Team Wendy LLC, a leading supplier of helmets and helmet liner and retention systems, for cash consideration of US$130 million on a cash and debt free basis (a Class 1 transaction). 

"This is the third significant deal we have advised Avon Rubber on in the last 18 months, representing an aggregate amount of approximately US$500 million in cross border deals, following Avon Rubber's acquisition of 3M's ballistic business which completed earlier this year and the sale of its milkrite | InterPuls business to DeLaval which was announced in July," said White & Case partner Patrick Sarch, who leads the Firm's relationship with Avon Rubber. "Our relationship with Avon Rubber goes from strength to strength, and it is particularly rewarding to have been able to play a part in continuing to help Avon Rubber deliver on its growth strategy."

The Class 1 acquisition is subject to customary closing conditions and shareholder approval, with completion expected to take place in the final quarter of 2020. In conjunction with the acquisition, White & Case also advised Avon Rubber on its entry into a new US$200 million revolving credit facility.

Avon Rubber is a FTSE-250 innovative technology group which designs and produces specialist products and services to maximise the performance and capabilities of its customers. This is another important strategic transaction for Avon Rubber, which on completion will combine Team Wendy with Avon Rubber's existing Helmets & Armor business to create a global leader in Military and First Responder helmets with a broader product portfolio and stronger capabilities and routes to market. 

"This transaction demonstrates White & Case's unique ability to combine our London PLC and listed company expertise with our US M&A excellence and leading CFIUS and defence sector capabilities to deliver another fantastic result for Avon Rubber," said White & Case partner Dominic Ross, who co-led the Firm's deal team.

The White & Case team that advised on the transaction was led by partners Dominic Ross and Patrick Sarch (both London) and Frank Lupinacci (New York), and included partners Karalyn Mildorf, Rebecca Farrington and Cristina Brayton-Lewis (all Washington, DC), Arlene Hahn, Sang Ji and Seth Kerschner (all New York), David Pezza (Chicago), and Ben Wilkinson (London), and associates Kathrin Schwesinger, Patrick Mock and Ketan Pastakia (all New York) and Sonica Tolani (London). 

Press contact
For more information, please speak to your local media contact.