Kirkland & Ellis counsels supply chain provider Savage Companies on the deal
Supply chain provider Savage Companies, based in Salt Lake City, Utah, and grain and milling firm Bartlett and Company, based in Kansas City, Missouri, have merged their businesses to form a new combined entity, Savage Enterprises. Together, Savage and Bartlett have more than 180 years of experience providing transportation, logistics and materials management services for customers across multiple industries, with a focus on energy and agriculture.
By combining strategic capabilities and assets, the new venture will be a leading single-source provider of a broad range of supply chain and industrial services enabling Savage and Bartlett customers and partners to feed the world, power our lives, and sustain the planet. Both Savage and Bartlett are family owned and among the largest privately owned companies in their fields. Leaders and teams from both companies are committed to serving customers as they have in the past and the businesses will continue to operate under both the Savage and Bartlett names. The merger is expected to be completed in August 2018 and terms of the transaction will remain confidential.
Bartlett has been operating for over 110 years, with more than 760 team members and 30 strategically located facilities throughout the United States and Mexico. Bartlett is a diverse agribusiness focused on the acquisition, storage, transportation, processing and merchandising of grain, and is a leading exporter of grain to Mexico from the United States. The new entity will include Bartlett’s grain and milling businesses.
Established in 1946, Savage has more than 4,000 team members in over 250 operating locations across the United States, Canada, Mexico and Saudi Arabia. Savage specializes in rail, truck and marine transportation, logistics, materials handling, and other industrial and environmental services. Industries currently served by Savage include oil refineries, power generation, railroads, food and agriculture, oil and gas, mining, chemicals and petrochemicals, ports and terminals, and construction.
Upon completion of the merger, team members from both companies will continue to work from their current locations. Bartlett Chairman James Hebenstreit will join the Board of Directors of Savage Enterprises and become its Vice Chairman. Bill Fellows will continue to lead Bartlett as President and CEO, and will also join the Board. Kirk Aubry will serve as President and CEO of the newly formed parent company.
Kirkland & Ellis advised Savage Companies with a team including Bill Benitez (Picture), Andrew Calder and Jim Rowe and associates Leon Johnson and Allan Kirk; and tax partner Mark Dundon
In Mexico, Santamarina y Steta represented both parties, Savage and Bartlett in obtaining the authorization from the Federal Economic Competition Commission (“FECC”) to complete the Transaction; our partner Ernesto Duhne acted as the common representative of the Parties and the associate Ivan Szymanski acted as lead counsel.
Involved fees earner: Ernesto Duhne – Santamarina y Steta; Iván Szymanski – Santamarina y Steta; William Benitez – Kirkland & Ellis; Andrew Calder – Kirkland & Ellis; James Rowe – Kirkland & Ellis; Leon Johnson – Kirkland & Ellis; Allan Kirk – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis;