09 03 2016

LKQ Corporation acquires Pittsburgh Glass Works for $635 Million

Ropes & Gray represented Kohlberg & Company portfolio company Pittsburgh Glass Works LLC in its sale to LKQ Corporation for $635 million.


Its business comprises wholesale and retail distribution services, automotive glass manufacturing, and retailer alliance partnerships. PGW operates approximately 120 distribution branches serving over 7,000 automotive glass retailer shops across North America. In addition, PGW operates 12 automotive glass fabrication facilities in North America, Europe and China. The transaction, announced Feb. 29, is expected to be completed in the second quarter of 2016 and is subject to customary closing conditions and necessary regulatory approvals. Kohlberg & Company, L.L.C. is a private equity firm specializing in add-on acquisitions, follow-on acquisitions, expansions, turnarounds, corporate carve-out, public-to-private transactions, and equity and debt investments in buyouts of mature and middle market companies. The firm, led by Mark Nappi Shant Mardirossian, Gordon H. Woodward, Ashley Ciaburri Rainwater and Samuel P. Frieder, is based in Mount Kisco (NY). Jefferies LLC and Nomura Securities International served as financial advisor, and Ropes and Gray LLP acted as legal counsel, to PGW. K&L Gates LLP served as legal counsel to LKQ. The Ropes & Gray team, which was led by private equity partner Christopher Rile and private equity associates Laura Steinke and Catherine Riley, also included tax partner Eric Elfman, executive compensation & employee benefits partner Loretta Richard, labor & employment partner David Mandel, real estate & environmental partner Peter Alpert, and intellectual property transactions partner David McIntosh. Involved fees earner: Christopher Rile - Ropes & Gray; Laura Steinke - Ropes & Gray; Catherine Riley - Ropes & Gray; Eric Elfman - Ropes & Gray; Loretta Richard - Ropes & Gray; David Mandel - Ropes & Gray; Peter Alpert - Ropes & Gray; David McIntosh - Ropes & Gray;

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