Banking Recap

M&A Transaction Announced for $111.0M

This record concerns a divestiture structured as a cash acquisition, falling under the M&A product group. The disclosed value of the transaction is $111,000,000. The facts block identifies the parties only by role references within the sourced sentences: Chart is referenced as being advised on the sell side, and Arcline Investment Management is referenced as being advised on the buy side (consistent with Fairbanks Morse Defense being a portfolio company of Arcline).

Oct 27, 2023·SEC EDGAR (8-K)·pending regulatory·divestiture / cash acquisition

Deal value

The source document is an 8-K filing with the SEC via EDGAR, published October 27, 2023. The deal's status is pending regulatory, indicating it had not yet closed as of that filing.

Two financial advisors are disclosed, one on each side. Capital One Securities, Inc. served as exclusive financial advisor to Chart and is designated lead on that side, with the source language also noting that Winston & Strawn LLP served as legal counsel to Chart in the same transaction. On the other side, BofA Securities served as financial advisor to Arcline Investment Management, with no lead designation specified.

The only legal advisor disclosed in the facts block is Winston & Strawn LLP, serving as counsel to Chart (the target side), per the source sentence pairing Capital One Securities and Winston & Strawn as Chart's financial and legal advisors respectively. No legal counsel is named for the acquirer side (Arcline).

Beyond classifying the transaction as a divestiture structured as a cash acquisition valued at $111,000,000, the facts block does not provide further detail such as the specific assets or business lines divested, any earnout or contingent consideration, or financing arrangements.

Several items remain undisclosed in this record. No legal advisor is named for the Arcline (acquirer) side. No expected closing date is provided. The facts block also does not elaborate on what specific business or assets changed hands beyond the general labeling of the transaction as a divestiture/cash acquisition.