Orrick Advises Superior Plus on Sale of CPD Unit to PE Backed FBM


Orrick has advised Superior Plus Corp (TSX: SPB) in the sale of its construction products distribution business to Foundation Building Materials LLC, a U.S. distributor of building materials that is backed by private equity firm Lone Star Funds. The deal, valued at $325 million, is expected to close in the second half of 2016.

Completion of the transaction will allow Toronto-based Superior to reduce debt, increase its financial flexibility and redeploy capital to its energy distribution and specialty chemicals businesses.

Orrick’s Corporate Team has advised on over 600 M&A transactions valued at over $100 billion over the past five years. The firm has been advising Superior since 2014 when it initially sought to sell its construction products business but felt the offers did not reflect the division’s value.

The Orrick team advising Superior was led by corporate partners King Milling and Tal Hacohen and included corporate associate Daria Loshkareva, antitrust & competition partners Tony Kim and Alex Okuliar, antitrust & competition of counsel Pat Zeigler, real estate partners Michael Haworth and Andrew Berman, international trade & compliance partner Harry Clark, M&A and private equity economist Greg Hume, capital markets partner Stephen Ashley, tax partner John Narducci, tax associate Jamie Larkin, energy and infrastructure senior counsel Bob Lawrence, compensation & benefits senior counsel Mitch Pahl, banking & finance partner Andrew Mattei, corporate associate Brian Blood, compensation & benefits associate Keith Tidwell and summer associate Will Peifer.