Sidley advised Merced Capital (“Merced”) on the restructuring and acquisition of the Telford Offshore Group (“Telford”), following a competitive public auction process that completed on February 9, 2023.
Following the restructuring of its liabilities and under its new ownership, Telford now benefits from a significantly de-levered balance sheet as well as an injection of new money, allowing it to move forward with a stable capital structure for the future growth of the business.
The multidisciplinary Sidley team supported Merced closely through the multiple stages of the restructuring process, and was led by partners Mark Knight and Jifree Cader and lead managing associate Raveena Channa (Restructuring). The transaction involved a team working together across several practice areas including:
Restructuring (London): managing associate Molly Dyas, associates Priya Narang and Nicole Georgiou, and trainees Dominique Vletter and Sophie Gunning
Global Finance (London): partner Bryan Robson, managing associate Nils Gravenhorst, associate Jacques Stivala, and trainee Andrew Lecky
M&A and Private Equity (London): partner Fatema Orjela and managing associate Cyril Cutinha
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