Apax Partners, the reputed private equity firm seems all set to buy out the cleaning company ISS for a mind boggling $8.5 billion. This sum is simply too huge and serious. Apax is a London based firm while ISS is Danish.
The emerging reports have actually seen people literally get excited as to which way this deal is finally heading to. Now even top lawyers have got involved into the matter and the dealing is still in its early stages, but then very much on. The deal if passed is being looked at, as the largest leveraged buyout of this year.
Legal Week, the UK legal publication went on to state the fact that Skadden, Arps, Slate, Meagher & Flom and Simpson Thacher & Bartlett are the name that are already on board as the advisory group to help out Apax with the deal.
M&A have been working with APAX for some time now. They had done a deal before as well when APAX needed to buy out Tivit, the Brazilian computer service company, which was a one billion dollars deal. Apax had also got the fashion magnet label Tommy Hilfiger about four years ago for as much as $1.6 billion.
Even as the firm’s quest or rather conquest of acquiring one giant company after other continues, the Danish based Gorrissen Federspiel is advising ISS cleaning company. Among other talks being that the giant company Apax is looking at generating a massive $14.5 billion to fund acquisitions in the coming time.
While all said and done, it does indeed definitely look like Apax should be able to successfully buy out the cleaning company, for now one may just wait and watch.
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