CLIENT: Roen Est S.p.A.

TRANSACTION: M&A; Debt advisory & restructuring

DATE: December 2015

SECTOR: Industrial; Financial institutions

Advisory to Roen Est, leading Italian manufacturer of heat exhangers and ventilated units for the commercial and industrial segments of the Heating, Ventilation Air Conditioning and Refrigeration (HVACR) industry in Europe, in the acquisition made by D.E. Shaw Group, a global investment and technology development firm, of the 100% share capital of the Company.

Activities performed:
assistance in the analysis of the economic and financial situation of Roen Est;
assistance in the research of potential bidders;
origination of the transaction and assistance in defining the structure and the terms of transaction;
assistance in negotiation with financing banks of terms and
conditions of a senior debt rescheduling;
coordination of other players involved in the transaction and the relations with the banking sector;
assistance in the management of due diligence activities;
assistance in the negotiations and definition of the agreement with the counterparts;
cooperation with legal consultants in the revision, negotiation and definition of the legal documentation.

Deal value: approx. € 18 million