Akin Gump Advises Lender Group in Infrastructure and Energy Alternatives Transaction
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(New York) – Infrastructure and Energy Alternatives, Inc. (IEA), a leading infrastructure construction company with specialized energy and heavy civil expertise, announced that it has successfully completed a $50 million equity investment from a fund managed by the Private Equity Group of Ares Management Corporation (ARES) and funds managed by Oaktree Capital Management, L.P.
In conjunction with the closing of the equity transaction, IEA entered into an amendment with a majority in interest of its lenders under its senior credit facility to amend such facility. The company has also agreed to provide the lenders with several additional protections, including further limitations on existing negative covenants and limits on the company’s ability to incur additional debt and make payments on its equity.
A team from Akin Gump, led by corporate partner Daniel Fisher, co-head of the firm’s integrated special situations group, advised the majority lenders in the transaction. The team also included financial restructuring partner Ira Dizengoff, corporate partners Meng Ru and Allison Miller and corporate associate Tiffanye Threadcraft.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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