Cleary Gottlieb is representing majority shareholder Atalian Holding Development and Strategy (AHDS) in the sale of the entire share capital of La Financière Atalian S.A.S. (Atalian) to private investment firm Clayton, Dubilier & Rice (CD&R).
The proposed transaction, which was announced on July 28, 2022, will be submitted for consultation to the competent workers’ councils of Atalian. After such consultations and acceptance of CD&R’s offer by AHDS and the other shareholders of Atalian, the proposed transaction will be subject to customary conditions to completion, including regulatory and competition authority approvals. Closing of the proposed transaction is also conditional on to the completion of the acquisition by CD&R of OCS International Limited, an international facilities management company headquartered in the United Kingdom and operating mainly in the United Kingdom and the Asia Pacific region. The proposed transaction is expected to close by the end of 2022.
Cleary has previously advised Atalian on its acquisition of Servest UK in May 2018, including a related notes offering and bridge-to-bond facility, and on a number of other financing and high-yield bond transactions.
Atalian is one of the world’s largest independent services providers in facility management, with a turnover of €2.946 billion and more than 123,000 employees in 35 countries across four continents. With more than 32,000 clients in the public and private sectors, Atalian offers a broad range of services including cleaning, security, technical services (M&E), energy management and compliance, catering, and front of house services.
For more information, please see the press release here.