Allen & Overy is advising Algeco Scotsman, a portfolio company of TDR Capital, in connection with the $1.1 billion sale of its North American modular space and portable storage business (“Williams Scotsman”) to Double Eagle Acquisition Corp., a NASDAQ-listed, special purpose acquisition company.  The stock purchase agreement for the sale was executed on August 21, 2017. The sale is subject to the approval of Double Eagle Acquisition Corp.’s shareholders and is expected to close in October 2017.

Allen & Overy’s New York private equity and leveraged finance teams advised on the transaction. This includes the stock purchase agreement and related transaction documentation, $900 million of committed debt financing, including an ABL facility and bridge financing to back-stop a planned bond offering, and the preparation of an S-4 proxy statement/prospectus for Double Eagle Acquisition Corp.’s shareholders to approve the transaction.

The Allen & Overy team was led by partners Bill Schwitter, Jeff Pellegrino and Michael Chernick, and included partner Elaine Johnston and associates Beth Troy, Sarah Travis, Zachary Frimet, Keren Livneh, Puja Patel, Jessica Paletsky, Adam Haberkorn and Lucas Burbank.