Matters

Venture Capital Investments

Representing a venture capital fund in numerous food and beverage sector investments.

Professional Sports Association – Database of Medical Providers

Representing professional sports association as integrity counsel in establishing a database to maintain the purity of medical providers.

Silas Capital – Investment in Boll & Branch

Represented Silas Capital in its investment in Boll & Branch (B&B), the leading designer and retailer of sustainable home goods.  Silas Capital’s interests were ultimately sold when B&B received a $100 million strategic investment from a global consumer-focused private equity firm. 

Advisory Group – Business Wind Down

Represented an advisory group in a wind down following the disposition of a business.

VG Growth Partners – Hilary’s Eat Well

Represented VG Growth Partners in a preferred equity investment in a culinary specialty food business focused on healthful, allergen-free products.

Social Media Company – Sale and Rollover

Represented Fizziology, a social media research and analytics company, in its sale and in a rollover transaction with a private equity sponsored buyer.

Jewelry Designer – Sale of Assets

Represented a premier designer, marketer and distributor of costume jewelry in the sale of its assets to one of the world's leading branded fashion accessories, footwear, and apparel companies.

Sports Memorabilia Company – Major League Baseball Trophy Dispute

Represented a sports memorabilia company in an authentication dispute related to Major League Baseball trophies.

Vanbarton Group – $450 Million Sale of 180 Water Street

Represented Vanbarton Group in the $450 million sale of its remaining interest in 180 Water Street to MetroLoft Management. The sale was the second largest New York City real estate transaction in 2017, according to data from The Real Deal.

Private Equity Investment in Pharma Technology

Represented client in two rounds of equity investments in and a  loan transaction with a company engaged in the business of developing abuse deterrent drug delivery technology.

Coyne International Enterprises Corp. – Restructuring

Represented Coyne International Enterprises Corp., a leading U.S. commercial laundry service company with nine plants and 15 service centers in 23 states, in a successful auction of its business operations to three industrial laundry companies as part of its Chapter 11 proceedings. The $49.8 million total sale value from the three buyers – Cintas Corporation, Prudential Overall Supply Company and Clean Uniforms and More! – represented a more than 50-percent premium on starting auction bids.

EMMES Group of Companies – Venture Capital Financing

Represented the EMMES Group of Companies in the preparation of a convertible note purchase agreement, offering documents and an amended and restated operating agreement in connection with a capital raise.

World Surf League – League Ownership, Operations and Surfer Agreements

Represented the World Surf League in establishing the league’s ownership, operations and core investment structures to maximize league value. We also advised the league in the negotiation and development of a form agreement for surfers competing in the WSL Championship Tour, which covered merchandise licensing and media and promotional matters.

McKinsey & Company – Structural Analysis

Represented McKinsey & Company in a review and analysis of its global organization and in rendering a legal opinion regarding ownership of its subsidiaries and affiliates.

Cross-border Acquisition Post-Secondary Educational Institutions

Represented an offshore education foundation and operator of more than 100 post-secondary schools and research institutions worldwide in its proposed acquisition of post-secondary schools located in New York, Boston, Washington D.C. and San Francisco.

VG Growth Partners – Crunchsters

Represented VG Growth Partners in its investment in Crunchsters, an innovative food manufacturer that produces nutritious and organic plant-based snack products.

Envy Gaming – Proposed Sale of eSports Business

Represented Envy Gaming in the proposed sale of a minority equity interest in the organization to a private equity firm consortium and an NBA franchise ownership group.

Macromark, Inc. – Promissory Note Obligations

Represented Macromark, Inc., one of the largest direct mail companies, in advice on, and negotiation of, secured recourse promissory note obligations.

EMMES Group of Companies – Corporate & Employment Matters

Represent the EMMES Group of Companies, a privately owned real estate investment advisory firm in all corporate and employment matters.

MedSource National Inc. – Sale to ExamWorks

Represented MedSource National Inc., a provider of Independent Medical Exams (IME) services to insurance carriers, employers, third-party administrators and the legal profession, in its sale to ExamWorks, LLC.

Private Investor – Establishment of Baseball Clinic

Represented a private client in connection with establishing a new baseball development clinic in southern Florida.

Represented High Net Worth Investment Vehicle in Securing Assets to Operate CBD Business

Represented a high net worth investment vehicle in a new venture seeking to take control of an ecommerce CBD business by joining with secured creditors and exercising the rights and remedies of the creditors to secure the assets to continue to operate business.

Represented Investment Vehicle in Acquiring Exclusive Manufacturing and Distribution Rights

Represented a high net worth investment vehicle in securing a control position of an entity purchasing world-wide Intellectual Property rights of a an iconic soda company.  The acquisition includes the exclusive rights to a newly launched spiked seltzer division, exclusive license rights to manufacture and distribute an international hard seltzer line and rights to an after alcohol revival beverage. 

Represented Investment Company in Structuring and Development of CBD Business

Represented investment vehicle in its structuring and developing of a CBD line of products to be marketed at big box stores and kiosks and counseled on accompanying intellectual property issues.  

Wilkinson Global Capital Partners – Purchase Agreement

Represented Wilkinson Global Capital Partners LLC, a leading asset management and investment advisory firm, in its purchase of Wilkinson Global Asset Management, a New York-based private wealth investment manager, pursuant to a call option. The sale was made in accordance with a multi-year financing agreement with the seller, Fiera Capital.  

Resources

Legends Hospitality – Control Interest Transfer

Represented long-standing client Legends Hospitality in its entry into a share purchase agreement with the private equity firm Sixth Street. Under the share purchase agreement, Sixth Street acquired a controlling interest in Legends Hospitality. This investment will support Legends continued growth as a premium experiences company that specializes in delivering holistic solutions for sports, entertainment and attractions clients. 

In connection with the acquisition, Legends Hospitality (i) issued senior secured long-term notes and (ii) entered into a revolving credit facility and PIK facility. The net proceeds were used to redeem certain outstanding equity securities of Legends Hospitality and for working capital and general corporate purposes.

In order to preserve Legends Hospitality’s liquidity and support its continued investment in accretive, long-term capital projects, affiliates of Sixth Street and other third parties will provide Legends Hospitality with access to funding provided by an investment vehicle. The funding will be used for capital expenditures, pre-opening costs and other disbursements contemplated by contracts entered into by Legends Hospitality.

Legends – Majority Investment Transaction

Represented Legends Hospitality Holding Company, LLC (“Legends Hospitality”) in majority investment by private equity firm Sixth Street in the global premium experiences company, co-founded by the New York Yankees and the Dallas Cowboys. As reported by Legends, “[t]he new investment from Sixth Street will support the long-term growth of the Company’s global client relationships and further enhancements to its innovative 360-degree platform of premium experience offerings for the most iconic global brands in sports, entertainment, and attractions.”

Herrick has represented Legends since its inception in 2008, when our Sports Law Group worked with the Cowboys and the Yankees, along with two private equity firms, to form this ground-breaking joint venture. Initially, Legends focused on delivering enhanced concessions and premium experiences. Since its formation, Legends’ range of services has grown to include six worldwide divisions and it has partnered with many iconic international sports, entertainment and attractions brands. 

Resources

Fox Sports/NYRA – Landmark Wagering and Media Rights Agreements

Represented New York Racing Association, Inc. (NYRA) in an expanded partnership agreement establishing Fox Sports as NYRA Bets' official wagering partner and the leading media provider for elite thoroughbred racing through the next decade. The prior FOX Sports/NYRA media rights agreement provided a FOX Sports subsidiary with an option to acquire a 25% stake in NYRA Bets, LLC, a leading Advance Deposit Wagering (ADW) platform available to customers in 30 states across the country. The FOX Sports subsidiary will exercise this option by the summer of 2021, pending final regulatory approval. 

The agreement provides a FOX Sports subsidiary with a future opportunity to increase its equity interest in NYRA Bets.

Resources

Michel Design Works Acquired by Portfolio Company of Audax Private Equity

Represented the shareholders of Michel Design Works Ltd, a leading omni-channel lifestyle brand, in connection with its stock sale to Stonewall Kitchen, a premier specialty food and home goods platform in North America.  Stonewall Kitchen is a portfolio company of Audax Private Equity, which has invested over $7 billion in more than 140 platforms and over 1,000 add-on companies.  

Resources

Internal Restructuring of Real Estate Family Office

Represented clients in internal restructuring of real estate family office restricting and facilitating entity simplification plan to implement client desired future business goals, involving more than 80 entities.

International Investor – Disputes Involving Jointly Owned Investments

Represented sophisticated international investor with an extended multi-million-dollar portfolio and unwinding of jointly owned investments with co-managers in connection with disputes. Required negotiation of complicated transaction documents and securing approvals of transfers by portfolio company.

Significant Shareholder of Turkish Family Enterprise – Shareholders’ Rights

Represented significant shareholder of an American-Turkish family enterprise to examine rights and remedies against rogue manager and navigating control issues; assisted in conducting special meeting of shareholders and board of directors.

US Affiliate of Turkish Corporation – Negotiation of Independent Contractor Consulting Agreement

Represented US affiliate of a Turkish start-up after first round of a multi-million dollar raise in Turkey in the negotiation of independent contractor consulting agreement for key person, including provision for incentive compensation consisting of equity ownership in order to position the company for a potential IPO in the US.

Represented Formula 1’s Las Vegas Grand Prix in Sponsorship and Partnership Agreements

Represented Las Vegas Grand Prix, Inc., a subsidiary of Formula 1 owner Liberty Media Corporation and the promotor of the Formula 1 Las Vegas Grand Prix, in its sponsorship agreement and partnership with Aristocrat Technologies, Inc., a leading slot machine and casino game manufacturer.

Resources

Privately Owned Real Estate Investment Advisory Firm -Acquisition of Health Care Related Properties

Representation of privately owned real estate investment and advisory firm, as managing member of programmatic joint venture with value-oriented REIT focusing on investment in institutional quality real estate to acquire and operate medical office buildings, together with other potential healthcare related properties across U.S. markets.

Represented Shareholders in Asset Sale of Independent Medical Examination Provider

Represented shareholders in multi-million-dollar sale of assets of an independent medical examination provider (IME). The IME serves insurance carriers, employers, and third-party administrators, to leading provider of IMEs, peer reviews, Medicare compliance, record retrieval, document management and related services, with clients in the U.S., Canada, the United Kingdom and Australia.  The agreement provided for post-closing employment and restrictive covenants of selling shareholders and key personnel and bonus payments relating to key employee retention.

Advised on Potential Ownership Issues for Expansion Team of Professional Soccer Team

Represented potential owner of expansion team of professional soccer team in North America. Provided advice regarding the application process and provided analysis of franchise agreement and potential conflict issues. 

Employment Agreement – Professional Services Firm

Represented Chairman and President of a leading professional services firm that specializes in real estate and investment management firm in connection with his employment agreement.

Apparel Company – Motion to Dismiss Granted in Precedent Setting Merger Dispute

Represented a leading apparel company and its majority shareholders in a cash out merger dispute with its former minority shareholder. The minority shareholder filed an action in New York State Supreme Court to rescind the merger, alleging that the apparel company failed to comply with New York case law mandating a legitimate business or corporate purpose for corporate mergers. The Court initially denied the apparel company’s motion to dismiss but granted reargument, recognizing that its original decision did not fully address the business purpose arguments that lay at the core of the dispute. Following reargument, the Court granted the apparel company’s motion to dismiss, acknowledging the merger’s clear legitimate business purpose. This decision holds great significance for the legal community as there are very few precedents under New York law addressing the conditions under which a merger can be rescinded, particularly for lack of a legitimate business purpose. The case is Alan Ades v. Van Dale Industries, Inc. et al. (N.Y. Sup. Ct.).

Represented Client in Reverse Take-Over Transaction Valued at $5.5B

Represented Nano Cures International, Inc., a US-based company focused on transforming the development and delivery of cures to major health conditions and diseases, in a definitive arrangement agreement (the "Arrangement Agreement") with Craft 1861 Global Holdings Inc. ("Craft Global"), a publicly traded Canadian corporation. The Arrangement Agreement sets out the definitive terms upon which Nano will acquire Craft Global in a reverse take-over transaction valued at $5.5B.

Resources

Represented Avenue Capital Group in PGA Tour Investment

Represented Avenue Sports Fund, an affiliate of Avenue Capital Group, respecting its investment in Strategic Sports Group (SSG), a consortium of sports franchise owners and investors, in support of SSG’s $3 billion investment in PGA Tour Enterprises, a new commercial venture between the PGA Tour, SSG and PGA Tour players.

Investor – Venezia FC Acquisition

Represented sports investor Joe Tacopina in franchise acquisition and ownership matters, including negotiating and structuring his exit as president and co-owner of the Italian soccer club Bologna F.C. 1909, and his ensuing acquisition of Venezia F.C.

Seegene, Inc. – International Counsel

Represent Seegene, Inc., a Seoul-based molecular diagnostics company, as its designated outside counsel in its international product distribution and technology licensing, M&A, corporate and capital markets matters. Seegene has developed innovative technologies for the detection of multiple pathogens (ACP (Annealing Control Primer)TM and DPO (Dual Specific Oligonucleotide)TM).