Albany International’s $96 Million Common Stock Offering


Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC and BofA Securities, Inc., in connection with the public offering.

The offering consisted of 1,616,000 shares of Class A Common Stock (including 210,783 shares sold pursuant to the underwriters’ exercise of their option to purchase additional shares) of Albany International Corp. (NYSE: AIN) (“Albany”) by certain selling stockholders at a public offering price of $68 per share. The offering raised gross proceeds of approximately $96 million.

Albany is a developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Its Machine Clothing segment is the world’s leading producer of fabrics and process felts used in the manufacture of paper products. Its Albany Engineered Composites segment is a designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany is headquartered in Rochester, New Hampshire, operates 22 plants in 10 countries and employs 4,400 people worldwide.

The Simpson Thacher team included John C. Ericson (Picture) and Camilla Johnson (Capital Markets); Jonathan Cantor (Tax); Jake Phillips (Executive Compensation and Employee Benefits); Marcela Robledo and Corina McIntyre (Intellectual Property); and Jennie Getsin (FINRA/Blue Sky).

Involved fees earner: Corina McIntyre – Debevoise & Plimpton; Jonathan Cantor – Simpson Thacher & Bartlett; John Ericson – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Camilla Johnson – Simpson Thacher & Bartlett; Jacob Phillips – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett;

Law Firms: Debevoise & Plimpton; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; J.P. Morgan Securities LLC;

Author: Ambrogio Visconti