Sherri Snelson is a partner in White & Case's Debt Finance practice.
She has extensive experience acting as lead counsel for lenders, private equity funds and their portfolio companies in connection with leveraged finance and fund/portfolio finance transactions across numerous jurisdictions and industries.
Sherri’s experience includes advising investors and borrowers in connection with both in- and out-of-court debt restructurings, DIP financings, exit financings, 363 sales, English administrations and schemes of arrangements and insolvency related matters in several European jurisdictions.
- Representation of Deutsche Bank AG, London Branch, as Administrative Agent, in connection with a US$400 million revolving NAV facility provided to an alternative fund holding company of a global fixed income manager.
- Representation of Entrepreneurial Equity Partners in the financing for its acquisition of Ya YA Foods Corp, a Canadian food manufacturer. The facility consisted of a CAD$117 million first lien credit agreement and US$21.5 million of mezzanine notes.
- Representation of Brundage-Bone Concrete Pumping Holdings, Inc. and other Borrowers and Guarantors with the amendment and restatement of a US$25 million asset-based loan facility, with Wells Fargo Bank, N.A. as Agent, Sole Lead Arranger, Bookrunner and Collateral Agent and Wells Fargo Capital Finance (UK) Limited as UK Security Agent.
- Representation of MAXIMUS, Inc., a leading provider of government services worldwide, as borrower on a US$2.1 billion secured credit facility (including a US$600 million multi-currency revolving credit facility) to finance the acquisition of Veterans Evaluation Services, Inc. and refinance existing indebtedness of the company.
- Representation of the Lead Arranger and Original Lenders in connection with a £455 million NAV Facility made available to an affiliate of a premier European private equity fund.
- Representation of Inflexion Private Equity Partners LLP in an acquisition financing consisting of a US$50 million senior facilities agreement and a US$86 million PIK Facilities Agreement. Along with a contribution by Informa PLC, proceeds were to acquire Novantas, a financial technology advisory firm.
- Representation of Dominus Capital, L.P. and Lockmasters Security Intermediate, Inc., in connection with the acquisition financing of Lockmasters, Inc., a leading manufacturer of security devices for the government, industry and automotive sectors.
- Representation of the Lender and Joint Lead Arranger with a hybrid NAV facility made available to funds and entities managed by a leading German-based private equity firm.
- Representation of Macquarie Infrastructure and Real Assets, as sponsor, and MIP IV MidWest Fiber Parent, LLC, as borrower, in connection with a US$185 million senior secured facility consisting of a US$100 million term loan, a US$45 million delayed draw term loan and a US$40 million revolving credit facility for Bluebird Network, an internet and broadband company.
- Representation of IFM Investors in connection with its acquisition of Buckeye Partners, L.P. in an all-cash public-to-private transaction with an enterprise value of US$10.3 billion. The transaction was named "Private Equity Deal (Over US$10 billion)" by M&A Advisor (2020).
- Representation of Entrepreneurial Equity Partners, LLC in connection with its acquisition of Daniele International Inc., a US charcuterie manufacturer/distributor.
- Representation of Entrepreneurial Equity Partners, LLC in connection with its acquisition and combination of Kronos Foods, Inc. and Grecian Delight Foods, Inc., a US manufacturers/distributors of Mediterranean food products.
- Representation of Dominus Capital, L.P. in connection with its acquisition of Surface Preparation Technologies, LLC, the nation's number one provider of rumble strips and related roadway safety services.
- Representation of Morgan Stanley Infrastructure Partners in connection with its acquisition of Seven Seas Water Corporation, a leader in Water-as-a-Service® solutions.
- Representation of leading US, European and Asian investment managers in connection with equity bridge facilities for numerous closed-end investment funds.
- Representation of a consortium of development finance institutions in connection with collective arrangements to finance development and clean energy related projects.
- Representation of a leading secondaries manager in connection with the financing for its acquisition of various portfolios of private equity and venture capital investments.*
- Representation of a global aluminium company in connection with the restructuring of its US and European debt facilities via a Chapter 11 bankruptcy proceeding.*
- Representation of a leading investment manager in connection with numerous European and US joint ventures and acquisitions, including of financial services, energy and shipping interests.*
- Representation of the majority shareholder in connection with a senior secured rescue loan to its portfolio company backed by a film portfolio.*
- Representation of a major UK cable television provider in connection with the restructuring of its outstanding debt via a scheme of arrangement.*
- Representation of a luxury bath and spa manufacturer in connection with the restructuring of its US and European debt facilities, including a partial debt for equity swap, advising in connection with an administrative sale of a portion of its UK business and advice in connection with potential post-sale liability with respect to certain other UK assets.*
- Representation of the UK, US and Asian subsidiaries of a global luxury fashion brand in connection with both in- and out-of-court restructuring schemes with the aim of facilitating a sale of the global business to a single buyer.*
* Experience prior to joining White & Case.
"Fund Finance Transaction, Lender and Borrower Perspectives," Wildgen Fund Finance Webinar Series (July 2020)
"Hybrids, NAV and Other Forms of Fund Level Debt," Global Fund Finance Forum (February 2020)
"Is Debt The New Equity?" Pratt's Journal of Bankruptcy Law (October/November 2005)
"Why GP-led fund restructurings are the innovation the market needed" Private Equity News (penews.com) (June 2021)