One Rock Capital Partners, LLC’s $932 Million Acquisition Of Innophos Holdings, Inc.

Baker Botts represented Innophos Holdings, Inc. Simpson Thacher advised Lazard Freres & Co. LLC on the deal.

Innophos Holdings, Inc. (“Innophos” or the “Company”) (NASDAQ:IPHS), a leading international producer of essential ingredients, today announced that it has entered into a definitive agreement with an affiliate of One Rock Capital Partners, LLC (“One Rock”), a leading middle-market private equity firm, whereby One Rock will acquire all of Innophos’ outstanding shares for $32.00 per share in cash in a transaction valued at approximately $932 million, including the assumption of debt. The transaction has been unanimously approved by Innophos’ Board of Directors.

The offer price represents an 18% premium to the 30-trading day volume weighted average closing share price of Innophos’ common stock ended September 9, 2019, the last trading day prior to published market speculation regarding a potential transaction involving the Company.

The closing of the transaction is expected to occur in the first quarter of 2020, subject to stockholder and regulatory approvals and the satisfaction of customary closing conditions. Upon the completion of the transaction, Innophos will become a privately held company and shares of Innophos’ common stock will no longer be listed on any public market.

Lazard Freres & Co. LLC acted as financial advisor on the deal.

Baker Botts team was led by Lee Charles (Picture), Jamie Yarbrough, Ieuan List, Catherine Ellis, Matt Shell, Eileen Boyce, Rob Fowler, Jennifer Trulock, Marian Fielding, Gabriela Alvarez, David Cardwell, Martin Toulouse, Aileen Hooks, Sandra Lee, Don Lonczak and Peter Farrell.

The Simpson Thacher team included Jakob Rendtorff and Michael Ratay (M&A).

Involved fees earner: Gabriela Alvarez – Baker Botts; Catherine Baker Ellis – Baker Botts; Eileen Boyce – Baker Botts; David Cardwell – Baker Botts; Lee Charles – Baker Botts; Peter Farrell – Baker Botts; Marian Fielding – Baker Botts; Rob Fowler – Baker Botts; Aileen Hooks – Baker Botts; Sandra Lee – Baker Botts; Ieuan List – Baker Botts; Don Lonczak – Baker Botts; Matthew Shell – Baker Botts; Martin Toulouse – Baker Botts; Jennifer Trulock – Baker Botts; Jamie Yarbrough – Baker Botts; Jakob Rendtorff – Simpson Thacher & Bartlett; Michael Ratay – Simpson Thacher & Bartlett;

Law Firms: Baker Botts; Simpson Thacher & Bartlett;

Clients: Innophos Holdings Inc.; Lazard Frères & Co;

Author: Ambrogio Visconti