COMPONENTS OF A SUCCESSFUL ACQUISITION Preti Flaherty helped form the acquisition vehicle and negotiated financing for the purchase. The complex financing structure involved six lenders in different locations, and included two layers of equity financing as well as subordinated debt. In addition, we negotiated the assignment of the collective bargaining agreement with the Teamster’s Union, which represents many of the plant’s employees. We also helped ensure that the new company would have the right to use certain patented processes and products.

ENVIRONMENTAL SOLUTIONS For the deal to go forward, the seller, buyer, investors and lenders had to agree on how to manage potential environmental risk at the 75 year-old, 300,000 square foot facility. Our lawyers worked with all the parties to craft risk management, allocation and remediation strategies and to negotiate the necessary permits.

A BRIGHT FUTURE The new company, Elmet Technologies, kept its manufacturing activities in Lewiston and offered jobs to the 240 current employees. The plant’s former owner will continue to be a major customer under a multi-year supply agreement included in the acquisition agreement.