Latham & Watkins advised Exela Technologies BPA, LLC on its acquisition by XBP Europe Holdings, Inc.
The leading international law firm Latham & Watkins LLP advised Exela Technologies BPA, LLC (Exela BPA), a leading provider of business process automation solutions, on its emergence from chapter 11, exit financing and securitization facilities, and its acquisition by XBP Europe Holdings, Inc. (Nasdaq: XBP), a pan-European integrator of bills, payments, and related solutions and services.
Following the acquisition, the combined entity will operate under the new name XBP Global Holdings, Inc. (XBP Global). The transaction expands XBP Global’s annual revenue to over US$900 million, supported by a workforce of approximately 11,000 employees across 19 countries, serving more than 2,500 clients, including over 60 Fortune 100 companies.
The Latham & Watkins team advising Exela BPA was led by Ray C. Schrock (Partner, Restructuring & Special Situations), Alexander Welch (Partner, Restructuring & Special Situations), and Hugh Murtagh (Partner, Restructuring & Special Situations), with support from Adam Ravin (Counsel), Jon Weichselbaum (Associate), Thomas Fafara (Associate), Ata Nalbantoglu (Associate), Kevin Shang (Associate), Brian Herskowitz (Associate), Beau Parker (Associate), Richard Cantoral (Associate), and Saadia Naeem (Associate), with assistance from Drew Carlson. Eric Leon (Partner, Litigation) and Betsy Marks (Partner, Litigation), with Kamali Houston (Associate), advised on litigation matters. Marcela Ruenes (Partner, Finance) and Jonathan Wry (Counsel), with Youn Song (Associate) and assistance from Sam Wintergreen-Arthur, Lucila Dorado, and Ed Prevost, advised on finance matters. Benjamin Stern (Partner, Capital Markets), Gemma Mootoo Rajah (Counsel), and Jie Lin Nai (Associate), with assistance from Jenny Ha, advised on capital markets matters. Zachary Judd (Partner, Mergers & Acquisitions) and Ben Kaplan (Counsel), with Meghan McDuff (Associate), advised on M&A matters. Maeve Chandler (Associate) and Ananya Hindupur (Associate) advised on securitization matters. Joseph Kronsnoble (Partner, Tax), with Lukas Kutilek (Associate) and Jay Khurana (Associate), advised on tax aspects.
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