Global Risk Capital acquires legacy asbestos and environmental liabilities from SPX
Clients Global Risk Capital LLC (GRC)
Jones Day advised Global Risk Capital and its joint venture with partner Premia Holdings Ltd. in their acquisition from SPX Technologies, Inc. of SPX, LLC, which is a legacy SPX company that primarily holds liabilities, including asbestos and environmental liabilities and related insurance assets. GRC is a leading acquirer and manager of legacy corporate assets and liabilities. At closing, SPX Technologies contributed $138.8 million in aggregate cash to SPX, LLC and its subsidiaries, and GRC and Premia collectively contributed $8 million.