Joe concentrates his practice on debt financing transactions, with special emphasis on both the private equity sector and restructuring matters. He has extensive experience representing private equity sponsors, public and private corporate borrowers, and lenders. He handles leveraged acquisitions, secured and unsecured, second lien, mezzanine, asset-based lending (ABL), crossing lien, debtor-in-possession, exit and distressed financings, workouts, and restructurings. His experience includes domestic and international syndicated, club and bi-lateral debt facilities ranging in size from less than five million to several billion dollars. He is also a member of the firm’s Sports & Entertainment Practice.
Experience
- Representation of leading national distributor in connection with $1.2 billion syndicated senior secured asset based credit facility
- Representation of direct lender in connection with $100 million senior secured asset based credit facility for purchase of patent assets
- Representation of sponsor-backed health care services company in connection with $1 billion syndicated senior secured credit facilities for acquisition financing and working capital
- Representation of public biotech company in connection with $200 million bridge loan for acquisition financing and $300 million syndicated senior secured revolving credit facility
- Representation of public international telecommunications company in connection with $225 million senior secured revolving credit facility
- Representation of private equity sponsor in connection with $60 million senior secured credit facilities for leveraged buyout of medical device company
- Representation of private equity sponsor in connection with $223 million senior secured credit facilities, $80 million high yield style mezzanine facility and holdco senior securities purchase agreement for leveraged buyout of risk management services company
- Representation of private equity sponsor in connection with $330 million senior secured credit facilities for acquisition of health care consulting services company
- Representation of sponsor-backed information technologies company in connection with $900 million syndicated covenant-lite first lien credit facilities and second lien credit facility and multiple incremental term loan facilities for acquisitions by company
- Representation of private equity sponsor in connection with refinancing of $700 million of floor plan and other credit facilities for purchase of preeminent auto dealerships
- Representation of private equity sponsor in connection with $100 million senior secured unitranche credit facilities for acquisition of international fitness center franchisor
- Representation of sponsor-backed industrial and specialty chemical company in connection with $3 billion of senior secured asset based and term loan credit facilities and $440 million high yield style mezzanine facility for leveraged recapitalization
- Representation of aircraft manufacturer in connection with pre-chapter 11 bridge loans and liquidity advice and $400 million debtor in possession credit facilities
- Representation of hotel franchisee and real estate investment trust in connection with $67 million debtor in possession credit facilities
- Representation of international manufacturer and distributor of personal care products in connection with out of court restructuring and $130 million first and second lien credit facilities
- Representation of leading hedge fund in connection with $200 million of senior secured distressed loans to pharmaceutical company and related purchase of warrants
- Representation of private equity sponsor in connection with $335 million first and second lien senior secured credit facilities for acquisition of automobile accessory manufacturer
- Representation of owner of NHL franchise in connection with $100 million senior secured credit facilities for team buyout and representation of franchise in subsequent refinancing
- Representation of owner of NBA franchise in connection with $15 million unsecured senior credit facility for team buyout and representation of franchise in subsequent refinancing
- Representation of owner and marketer of over-the-counter brands and private equity sponsor in connection with $1.15 billion senior secured credit facilities for bank and bond acquisition financing
- Representation of energy company in connection with $2.3 billion senior secured credit facilities for nuclear facilities joint venture
- Representation of sponsor-backed multi-concept international franchisor in connection with $105 million senior secured credit facilities and $40 million mezzanine facility for dividend recapitalization
- Representation of private equity sponsor in connection with $90 million senior secured credit facilities for acquisition of dispensing systems manufacturer and subsequent $20 million asset based credit facility and $150 million of secured high yield bonds in connection with dividend recapitalization of company
- Representation of private equity sponsor in connection with $61 million senior secured asset based, term loan and equipment loan facilities and $20 million senior subordinated notes for leveraged buyout of environmental services company and subsequent add-on acquisition
- Representation of private equity sponsor in connection with $68 million senior secured credit facilities and $18 million mezzanine facility for leveraged buyout of health care services business
- Representation of sponsor-backed manufacturer of industrial caster and hardware products in connection with $170 million senior secured credit facilities for dividend recapitalization
- Representation of private equity sponsor in connection with $37 million multicurrency senior secured credit facilities and $13 million mezzanine facility for cross boarder acquisition of a division of a large publicly traded company
- Representation of sponsor-backed national beverage distributor in connection with $280 million of senior secured asset based revolving credit facilities and secured high yield bonds
- Representation of public biotech company in connection with $100 million rule 144A convertible senior notes offering
- Representation of private equity sponsor in connection with $90 million senior secured credit facilities for the leveraged buyout of movie theatre owner and operator
- Representation of private equity sponsor in connection with a $70 million senior secured asset based revolving credit facility and $35 million senior subordinated notes for the acquisition of a wholesale food distributor and subsequent add-on acquisition
- Representation of private equity sponsor in connection with $50 million senior secured unitranche credit facilities for acquisition of consumer electronics retailer
- Representation of private equity sponsor in connection with $65 million senior secured credit facilities and $20 million mezzanine facility for leveraged buyout of media and marketing agency
- Representation of lender in connection with $71 million senior secured credit facility for leveraged buyout of hair care products company
- Representation of solar company subsidiary of public telecom in connection with $66 million of senior secured notes for refinancing of existing solar portfolio
- Representation of public manufacturing company in the negotiation of $53 million senior secured credit facilities to finance buildout of domestic manufacturing plant (transaction not consummated)
- Representation of private equity sponsor in connection with $40.5 million senior secured credit facilities for leverage buyout of commercial fabrics and upholstery company
- Representation of private retail services company in connection with restructuring of $39 million senior secured credit facilities
- Representation of sponsor-backed consumer retail company in connection with $37 million senior secured credit facilities for leveraged recapitalization
- Representation of sponsor-backed staffing services company in connection with $75 million senior secured term loan and asset based revolving credit facilities for acquisition financing purposes
- Representation of sponsor-backed utilities contractor in connection with $70 million senior secured credit facilities
- Representation of sponsor-backed consumer products manufacturing company in connection with restructuring of $57.5 million senior secured credit facilities and $17 million mezzanine facility
- Representation of lead arranger in connection with $32.5 million first and second lien asset based credit facilities for residential solar company
- Representation of public company restaurant owner and operator in negotiation of $63 million senior secured term and revolving loan credit facilities for acquisition financing purposes (transaction not consummated)
- Representation of public international telecommunications company in connection with $60 million senior secured term loan facility for acquisition financing purposes
- Representation of preeminent family office in connection with $50 million senior secured credit facilities for leveraged buyout of acquirer of remnant assets
- Representation of sponsor-backed veterinary services management company in connection with $34.5 million senior secured credit facilities for dividend recapitalization
- Representation of sponsor-backed furnishing services company in connection with $45 million senior secured credit facilities for dividend recapitalization
- Representation of sponsor-backed medical device company in connection with $22 million senior secured credit facilities for leveraged recapitalization
- Representation of private software company in connection with $22 million senior secured credit facilities for leveraged recapitalization
- Representation of private equity sponsor in connection with $16 million senior secured credit facilities for leverage buyout of healthcare education company
- Representation of private equity sponsor in connection with $18.5 million senior secured credit facilities for acquisition of consulting business
- Representation of public biotherapeutics company in connection with $20 million growth capital credit facility
- Representation of sponsor-backed software company in connection with $15 million senior secured working capital facility
- Representation of private video game company in connection with $15 million senior secured credit facility for dividend recapitalization
- Representation of public internet company in connection with $9 million senior secured bridge loans
- Representation of private eSports software company in connection with $8.6 million senior secured delayed-draw bridge facility
- Representation of private consumer retail company in connection with $7.75 million senior secured asset based credit facilities
- Representation of private healthcare company in connection with $7.5 million mezzanine credit facility
- Representation of private software company in connection with $4 million asset based growth capital credit facility
- Fund level subscription line credit facilities
- Negotiation of debt commitment papers for private equity sponsors and corporate borrowers in connection with bids for acquisitions, unconsummated acquisitions and other purposes
viewpoints
Federal Reserve Main Street Lending Program: Updates, Timing and Certain Considerations
June 12, 2020 | Advisory | By Joseph Price, Joseph J. Ronca
This article discusses updated documentation and timing for the Federal Reserve Main Street Lending Program and certain considerations for companies considering borrowing under the program.
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Revised Federal Reserve Main Street Lending Program: Terms and Key Considerations
May 18, 2020 | Advisory | By Joseph Price, Joseph J. Ronca
This article discusses the recent revisions to the Federal Reserve’s Main Street Lending Program; borrower considerations regarding eligibility and access to the program; implications of certain covenants and restrictions; and considerations under existing debt documents.
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SBA Issues Additional Guidance Regarding “Necessity” Certification Required under the CARES Act
May 13, 2020 | Blog | By Hope Foster, Karen Lovitch , Joseph Price, Sahir Surmeli
Today the Small Business Administration (SBA) issued additional guidance with respect to the “necessity” certification required under the CARES Act in connection with the Paycheck Protection Program (PPP). The relevant guidance appears in FAQ 46, and it is very good news for borrowers who received PPP loans under $2 million (together with PPP loans to affiliates, if any). The SBA, in consultation with the U.S. Department of Treasury, has determined that a safe harbor will apply with respect to SBA’s review of the certification of necessity in connection with respect to such loans. Specifically, “[a]ny borrower that, together with its affiliates, received PPP loans with an original principal amount of less than $2 million will be deemed to have made the required certification concerning the necessity of the loan request in good faith.”
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The Federal Reserve Main Street Lending Program: Terms and Key Considerations
April 14, 2020 | Advisory | By Joseph Price, Joseph J. Ronca
This article discusses the Federal Reserve’s Main Street Lending Program, including eligibility; impacts on debt service, capital structure, and strategic planning; and potential obstacles under existing debt and other agreements.
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Middle Market Private Equity Fund Strategies for Managing Portfolio Company Defaults
April 10, 2020 | Advisory | By Joseph Price, Matthew B. Gautier
This advisory reviews strategies that sponsors and their portfolio companies can use to manage defaults, including proactive measures to avoid default, amendments and waivers to realign with a company’s revised outlook, sponsor support through equity cures, and lender forbearance.
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M&A in the COVID Era – Part II – Debt Financing Opportunities for Middle Market PE Funds
April 6, 2020 | Advisory | By Joseph Price, Matthew B. Gautier
This article reviews debt financing opportunities available to investors in a down market and the pros and cons of each type of financing.
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Small Business Loans for COVID-19 Economic Disaster Relief
March 30, 2020 | Alert | By Sahir Surmeli, Joseph Price, Joseph J. Ronca
This alert describes two types of relief loans available to small businesses suffering due to COVID-19: Paycheck Protection Program (PPP) loans and SBA EIDL loans.
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For closely held companies: Is there, or will there soon be, a significant lender in your life?
April 24, 2017 | Alert | By Joseph Price
Ten considerations for closely held companies incurring debt in connection with minority investments by private equity sponsors, growth financing, or dividend recapitalizations.
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News & Press
The rise of PIK sparks concerns
July 1, 2024
A Mintz Team led by New York Managing Member and Corporate Chair Stephen Gulotta Jr. advised Monomoy Capital Partners in their investment in Southern Exteriors, a premier full-service installer of exterior building solutions. Learn more about the deal here.
Mintz Advises Muse Group on Combination with Hal Leonard and Growth Investment by Francisco Partners
December 19, 2023
San Francisco Managing Member Stephen Osborn and Member Robert Burwell led Mintz’s advisory team in facilitating a transformative combination for Muse Group with Hal Leonard, securing growth investment from Francisco Partners. This impactful collaboration merges Muse’s leadership in music content and creation with Hal Leonard’s renowned sheet music and music-learning expertise. The deal underscores Mintz’s commitment to supporting innovative technology companies in the Bay Area’s Private Equity landscape.
Mintz Represents Future Electronics In $3.8 Billion Announced Sale To WT Microelectronics
September 15, 2023
Mintz is representing Future Electronics in an all-cash, $3.8 billion sale targeted to close in the first half of 2024. Mintz M&A Members Daniel Follansbee and Ran Zioni led a multi-office team that included Special Counsel Nicholas Perricone, plus Associates and Antitrust, Debt Financing, and Employment Members. Toronto MP Mitch Frazer and other Partners provided Canadian guidance.
Firm plays a key role in the largest health care acquisition to date in 2020.
Mintz advised GPB Capital on its acquisition of a majority equity stake in Westwood, Massachusetts-based Prime Motor Group. The acquisition by Capstone Automotive Group, an affiliate of GPB, expands the group’s footprint throughout New England.
Mintz Represents Myriad Genetics in Acquisition of Assurex Health
September 08, 2016
Attorneys from Mintz represented Myriad Genetics, Inc. in its acquisition of Assurex Health, an informatics-based precision medicine company providing treatment decision support to health care providers for mental health patients.
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2015
Commercial Lending and Equity Deal Terms for Middle Markets: Borrower and Lender Perspectives
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Recent Insights
A Mintz Team led by New York Managing Member and Corporate Chair Stephen Gulotta Jr. advised Monomoy Capital Partners in their investment in Southern Exteriors, a premier full-service installer of exterior building solutions. Learn more about the deal here.
Mintz Advises Muse Group on Combination with Hal Leonard and Growth Investment by Francisco Partners
San Francisco Managing Member Stephen Osborn and Member Robert Burwell led Mintz’s advisory team in facilitating a transformative combination for Muse Group with Hal Leonard, securing growth investment from Francisco Partners. This impactful collaboration merges Muse’s leadership in music content and creation with Hal Leonard’s renowned sheet music and music-learning expertise. The deal underscores Mintz’s commitment to supporting innovative technology companies in the Bay Area’s Private Equity landscape.
