Element Fleet Management’s Joint Venture with Celadon Group, Inc.


Simpson Thacher represented Element Transportation LLC, a subsidiary of Element Fleet Management (TSX: EFN) in the formation and financing of a joint venture between Element and Celadon Group, Inc.

The joint venture was formed through recapitalizing 19th Capital Group, LLC and holds over 10,000 truck tractors for use in leasing operations. Each of Celadon and Element owns slightly less than 50% of the joint venture’s equity, with employees of 19th Capital holding the remainder.

The Simpson Thacher team working on the transaction included Patrick Naughton (Picture), Judy Huang, Andrew Edelen and Jeffrey Wittman (M&A); James Cross, Homin Lee, Adam Weiner and Valdemar Washington (Credit); and John Creed and Taylor Weinstein (Tax).

Involved fees earner: Patrick Naughton – Simpson Thacher & Bartlett; Judy Huang – Simpson Thacher & Bartlett; Andrew Edelen – Simpson Thacher & Bartlett; James Cross – Simpson Thacher & Bartlett; Homin Lee – Simpson Thacher & Bartlett; Adam Weiner – Simpson Thacher & Bartlett; Valdemar Washington – Simpson Thacher & Bartlett; John Creed – Simpson Thacher & Bartlett; Taylor Weinstein – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Element Vehicle Management Services, LLC;

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Author: Ambrogio Visconti