Bansk Group’s Acquisition of Woodstream Corporation

Davis Polk advised Bansk Group, while Kirkland & Ellis LLP acted as the legal advisor for Woodstream and Vestar in the transaction.

Bansk Group completed its acquisition of Woodstream Corporation, from Vestar Capital Partners, a leading U.S. middle-market private equity firm. The transaction is expected to close in the fourth quarter of 2020, subject to regulatory approval and customary closing conditions.

Bansk Group is a private investment group focused on growth companies and has approximately $1.5 billion in assets under management. Bansk Group was founded by Bart Becht, the former CEO of Reckitt Benckiser, who is also a Senior Partner and the Chairman of the Bansk Group.

Woodstream is a leading manufacturer and marketer of a broad portfolio of branded pest control, electronic animal containment, and lawn & garden products, under brands such as Victor, Terro, DynaTrap, Safer, Havahart, Mosquito Magnet, Perky-Pet, and Zareba, among others. Woodstream’s products, which have leading market share positions within their respective segments, are sold at more than 100,000 retail locations and to professional pest control providers throughout the United States, Canada, the United Kingdom, and other international markets.

Goldman Sachs and William Blair co-led the transaction for Woodstream and Vestar. Credit Suisse Securities (USA) LLC acted as the financial advisor to Bansk, and Ares Management Corporation provided the committed financing for the transaction.

The Davis Polk corporate team advising Bansk Group included partners William J. Chudd (Picture) and Darren M. Schweiger and associates Samuel S. Kim and Benjamin Perry. The finance team included partner Sartaj Gill and associates Michael Fan and Catherine Lo. Partner Adam Kaminsky provided executive compensation advice. Partner David H. Schnabel provided tax advice. Partner Pritesh P. Shah provided intellectual property advice.

Involved fees earner: William Chudd – Davis Polk & Wardwell; Michael Fan – Davis Polk & Wardwell; Sartaj Gill – Davis Polk & Wardwell; Adam Kaminsky – Davis Polk & Wardwell; Samuel Kim – Davis Polk & Wardwell; Catherine Lo – Davis Polk & Wardwell; Benjamin Perry – Davis Polk & Wardwell; David Schnabel – Davis Polk & Wardwell; Darren Schweiger – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bansk Group;

Author: Ambrogio Visconti