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December 09, 2024
Cadwalader represented Mason Capital Management in its leadership of an equity consortium that announced the closing of its $475 million acquisition of the CB&I storage solutions business of McDermott International, Ltd. on December 9, 2024. The equity consortium included IES Holdings, Inc. (Nasdaq: IESC), Nut Tree Capital Management, LP, 683 Capital Management, LLC, First Pacific Advisors and other investors.
CB&I is the world’s most technically advanced builder of storage facilities serving customers across the water and wastewater, upstream, downstream, petrochemical and industrial sectors. The company delivers products and solutions for critical energy infrastructure projects, including complex low-temperature and cryogenic storage systems for LNG, hydrogen and ammonia. Established in 1889, CB&I has more than 4,000 employees and 30 locations across North America, the Middle East and Asia.
The Cadwalader team was led by Corporate partners Steve Fraidin and Greg Patti, and included special counsel Pete Bariso, associates Erin Ward and Marina Frattaroli, and paralegal Allison Overgaard; Tax partner Andrew Carlon; Finance partner Joey Polonsky and associates Tres Ricks and Marissa Higgins; Competition counsel Bilal Sayyed; Executive Benefits partner Andy O’Brien; IP special counsel Howie Wizenfeld and associate Jennifer Rabbino; Environmental counsel Bill White; Real Estate associates Andrea Weitzman and Finance associate Sara Markov; Litigation partner Matt Karlan and associate Rachel Skene; and White Collar special counsel Christian Larson and associate Jayshree Balakrishnan.
