Charles N.Bensinger III (Chip)

Partner

(T) 1.212.326.3797

Chip Bensinger has been practicing corporate law for more than 20 years, with a focus on lending and structured finance. He regularly represents banks, financial institutions, funds, and borrowers in a broad variety of secured and unsecured lending transactions, including multijurisdictional credit facilities, acquisition financings, professional sports franchise financings, subordinated and mezzanine debt issuances, project finance, public debt issuances, and chapter 11 debtor-in-possession and exit financings.

Representative clients range from public companies such as ConAgra Brands, Diebold, Frontier Communications, HNI, Kaiser Aluminum, Lamb Weston, Teradyne, and Verint Systems, to private companies and private equity firms such as AGIC, Duchossois Industries, EagleTree Capital, J.F. Lehman & Company, One Equity Partners, and Ospraie Management, and include lenders such as CIT, Citizens Bank, Jefferies, RBS, and SunTrust Bank.

Representative transactions include: innumerable PE acquisition financings, including advising a consortium of private equity firms in an extraordinarily complex $2.3 billion financing; ConAgra Brands in both the $6 billion acquisition financing of Ralcorp Holdings and $1.1 billion financing of the Lamb Weston spinoff; Diebold in the $3.1 billion financing of its acquisition by tender offer of a publicly traded German company; a debtor emerging from more than three years of chapter 11 proceedings with five different levels of secured and unsecured debt; and financings of several NHL and NBA franchises, including financing of the world-class Prudential Center, the first major league sports venue built in the New York metropolitan area since 1981. Chip also has coordinated multiple cross-border acquisitions, some involving more than 30 countries.

Experience

  • Performance apparel manufacturer refinances asset-based loan facilityJones Day represented a private equity firm and one of its portfolio companies, a manufacturer of performance apparel, in the refinancing of the portfolio company's asset-based loan facility.
  • Airtech acquires Champion Valves Inc. and Valve & Pump Specialties, Inc.Jones Day advised Airtech Group, a portfolio company of EagleTree Capital, L.P., in connection with the acquisition and related financing of Champion Valves Inc. and Valve & Pump Specialties, Inc., a designer, assembler, and distributor of industrial check valves and butterfly valves.
  • EagleTree Capital acquires Invincible Boat CompanyJones Day advised EagleTree Capital, L.P. in connection with the acquisition and related financing of Invincible Boat Company, a manufacturer of saltwater fishing boats.
  • Lamb Weston obtains $300 million senior secured term loan facilityJones Day represented Lamb Weston Holdings, Inc., a leading global producer, distributor, and marketer of value-added frozen potato products, in connection with a $300 million senior secured term loan facility with Northwest Farm Credit Services, PCA.
  • NRC Group Holdings to be acquired by US Ecology, Inc. for $966 millionJones Day is advising NRC Group Holdings Corp. (NYSE American: NRCG) in its acquisition by US Ecology, Inc., a leading North American provider of environmental services to commercial and government entities, pursuant to an all-stock transaction that values NRCG on an enterprise value (based on the US Ecology average share price over the last 15-trading days) at $966 million.
  • Royalty Pharma acquires EMGALITY® royalty from Arteaus Therapeutics for $260 millionJones Day advised Royalty Pharma, the industry leader in acquiring pharmaceutical royalties, in its $260 million acquisition of the royalty interest held by Arteaus Therapeutics, LLC on future global net sales of Eli Lilly and Company’s EMGALITY® (galcanezumab), an anti-CGRP antibody for the prevention of migraine.
  • OMNI Environmental Solutions acquires Force Environmental SolutionsJones Day advised OMNI Environmental Solutions, Inc., a portfolio company of One Equity Partners, in connection with the acquisition and related financing of Pennsylvania-based Force Environmental Solutions, LLC, a provider of environmental equipment and transportation and disposal services to energy producers in the northeast U.S.
  • J.F. Lehman acquires Inland Pipe Rehabilitation LLCJones Day advised long-standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in its acquisition and related financing of Inland Pipe Rehabilitation LLC, a leading provider of trenchless pipe rehabilitation solutions and technology to the municipal wastewater and storm water markets.
  • Conagra Brands acquires Pinnacle Foods for $10.9 billion in cash and stockJones Day advised Conagra Brands, Inc. in connection with the acquisition and related financing of Pinnacle Foods Inc. in a $10.9 billion merger.
  • Welbilt amends and increases $1.3 billion senior secured credit facilityJones Day represented Welbilt, Inc., a leading global manufacturer of commercial foodservice equipment, in connection with an amendment to and increase of its $1.3 billion senior secured credit facility.
  • Strike Capital, LLC attempts business combination with Sentinel Energy Services Inc. to form publicly traded Strike Inc.Jones Day represented One Equity Partners (“OEP”) and Strike Capital, LLC (“Strike”) in the proposed sale of a majority interest in Strike to Sentinel Energy Services Inc., a special purpose acquisition company (“Sentinel”).
  • J.F. Lehman sells National Response Corporation and Sprint Energy Services to Hennessy Capital Acquisition Corp. IIIJones Day advised long standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with (i) the sale of all its membership interests in NRC Group Holdings, LLC, formed earlier this year through the combination of JFLCO portfolio companies National Response Corporation and Sprint Energy Services, to Hennessy Capital Acquisition Corp. III, and (ii) the related refinancing of the credit facilities of such portfolio companies.
  • J.F. Lehman portfolio company acquires Quail Run ServicesJones Day advised long-standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with the acquisition and related financing by portfolio company NRC Group Holdings, LLC of Quail Run Services, LLC, a provider of wellsite wastewater treatment services throughout five disposal sites in the Eagle Ford Shale and Permian Basin.
  • EagleTree Capital acquires majority stake in FuseFXJones Day advised EagleTree Capital in connection with the acquisition of a majority stake in and related financing of FuseFX, LLC, a visual effects studio providing visual effects services for episodic television, feature films, commercials, and VR productions.
  • Rex Energy successfully closes $600.5 million 363 asset sale and confirms plan of liquidation with releases and exculpation provisionsA multi-disciplinary Jones Day team represented Rex Energy Corporation in the negotiation of a Restructuring Support Agreement ("RSA") with its first and second lien creditors that formed the foundation for a successful chapter 11 process.
  • PGT Innovations acquires Western Window Systems for $360 millionJones Day advised PGT Innovations in its acquisition of Western Window Systems from PWP Growth Equity, the middle market private equity group of Perella Weinberg Partners, for $360 million in cash.
  • J.F. Lehman refinances Trident Maritime SystemsJones Day advised long-standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with the refinancing of Trident Maritime Systems.
  • Pegasus Capital Advisors sells Pure Biofuels del Peru to Valero EnergyJones Day represented Pure Biofuels del Peru S.A.C. in its sale by Pegasus Capital Advisors L.P. to Valero Energy Corporation.
  • One Equity Partners acquires Gibson Energy Inc.'s U.S. environmental services businessesJones Day represented One Equity Partners in connection with the acquisition and related financing of Gibson Energy, Inc.'s U.S. energy services businesses, including U.S. environmental services and its U.S. seismic assets.
  • API Technologies obtains term loan and revolving loan facilityJones Day advised API Technologies Corp., a portfolio company of long-standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with a term loan facility and revolving loan facility.
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