Paul Weiss, Latham guide Apollo’s buy of Carlyle-backed packaging maker

Signage is seen outside of the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly
  • Paul Weiss advises Apollo Global Management
  • Latham & Watkins represents Novolex, Carlyle

(Reuters) - Apollo Global Management Inc has tapped Paul, Weiss, Rifkind, Wharton & Garrison as counsel for its purchase of a majority stake in packaging company Novolex Holdings LLC from the Carlyle Group.

South Carolina-based Novolex is represented by Nelson Mullins Riley & Scarborough and Latham & Watkins in the transaction. Latham also represented Carlyle.

Under the terms of the purchase made public Monday, Carlyle will still own a minority stake in the company. The deal of undisclosed value is expected to close in 2022’s second quarter.

Paul Weiss corporate partner Brian Finnegan, the firm’s global finance and capital markets practices chair Gregory Ezring and deputy co-chair of the corporate department and global co-head of finance Brian Kim are working with asset management giant Apollo, the firm said in a statement.

Ezring, whose online firm profile lists Apollo as one of his clients, has advised the asset manager on a number of transactions. These include its $43 billion merger with retirement services company Athene Holding Ltd earlier this year, according to a Paul Weiss January statement.

Latham said in a statement that corporate partners Shaun Hartley and Daniel Lennon are representing Novolex and longtime client Carlyle. The firm said that the duo also advised Carlyle on its 2016 acquisition of Novolex.

Nelson Mullins managing partner James Lehman, partner Gus Dixon and of counsel Renee Dankner are also acting as co-lead counsel for Novolex, the firm said.

Nelson Mullins said that Dixon guided Novolex on its acquisitions of paper bag maker Flexo Converters USA Inc and compostable restaurant packaging maker Vegware Holdings Ltd last year.

Read more:

Carlyle considers $6 billion sale or IPO for Novolex - Bloomberg

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Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes.