Zekelman Family Buys Majority Stake Of JMC Steel

On March 11, 2010, the Zekelman Family purchased a majority stake in JMC Steel Group, Inc. (“JMC Steel”) from The Carlyle Group. The Carlyle Group retained a minority stake in JMC Steel. The financial details were not disclosed.

Barry Zekelman was represented by Stikeman Elliott LLP in connection with the acquisition and redemption of shares with a team that included Curtis Cusinato and Mark Fedorowycz (M&A); John Lorito (tax); Nancy Ramalho (employment); Andrea Boctor (pensions & benefits) and Peter Hamilton (corporate finance) and by Willkie Farr & Gallagher LLP in the US with a team that included Robert Langdon (M&A) and Jonathan Konoff (anti-trust).

Alan and Clayton Zekelman were represented by Shearman & Sterling LLP in connection with the acquisition and redemption of shares with a team that included Jeffrey Lawrence and Jessica Nielsen (M&A) and Ogilvy Renault LLP in Canada by Jay Lefton (M&A).

The Carlyle Group was represented by Latham & Watkins LLP in connection with the acquisition and redemption of shares with a team that included Daniel Lennon, David Brown, Andrew Hennessy and Eric Greig (M&A); Sydney Smith (anti-trust); Joseph Sullivan (tax) and David Della Rocca and Adam Kestenbaum (benefits).

As part of the transaction, JMC Steel completed a $1.1 billion refinancing and recapitalization. JMC Steel was represented by in-house counsel Mickey McNamara, together with Richards, Layton & Finger, P.A., in connection with the acquisition and redemption of shares. Latham & Watkins LLP advised JMC Steel in connection with the refinancing and recapitalization with a team that included Jenny Van Driesen, Pat Shannon, Anne Federick, Steve Seem, Katherine Putnam and Jonathan Homer.

J.P. Morgan was the sole active book-running manager on the sale of the notes and arranger and sole book-running manager on the term loan and was represented by Cahill Gordon & Reindel LLP in connection with the refinancing and recapitalization. The Cahill team included Adam Dworkin, Douglas Horowitz, Daniel Zubkoff, Colin Addy, Ariel Goldman, Yigal Gross, Mary Holst, John Keaveny, Joshua Klayman, Lawrence Lin, Javier Ortiz and Daniel Tarnopol.