Evercel-led Buyer Group’s Acquisition of ZAGG


Fried Frank acted as counsel to BofA Securities as financial advisor to ZAGG Inc in the transaction.

ZAGG Inc signed its definite agreement to be acquired by a group (“Buyer Group”) led by Evercel, Inc. Pursuant to this definitive agreement, the Buyer Group will acquire all of the issued and outstanding common stock of ZAGG Inc for up to US$4.45 per share in cash. Stockholders will receive US$4.20 per share in cash upon closing. The transaction is expected to close in the first quarter of 2021.

ZAGG Inc is a global leader in accessories and technologies that empower mobile lifestyles, including computer and phone accessories and audio equipment.

Evercel, Inc. is a holding company that acquires and manages high potential businesses which have been limited by their capital structure.

The Fried Frank deal team advising BofA Securities was led by corporate partner Philip Richter (Picture) and included corporate special counsel Roy Tannenbaum and corporate associate Ethan B. Kamer.

Involved fees earner: Ethan Kamer – Fried Frank Harris Shriver & Jacobson; Philip Richter – Fried Frank Harris Shriver & Jacobson; Roy Tannenbaum – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: Bank of America Securities;

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Author: Ambrogio Visconti