Lowenstein Sandler advised Foley, Inc., the Caterpillar franchisee for northern New Jersey, Staten Island, and Bermuda, in acquiring substantially all of the assets of Giles & Ransome, Inc. (Ransome CAT). The move expands Foley's Caterpillar territory to include eastern Pennsylvania, southern New Jersey, and northern Delaware.
The deal, involving two of the Northeast's largest and oldest family-owned companies and accounting for a combined 160 years of industry experience, was finalized on February 8, 2018. Lowenstein also represented Foley in negotiating the transaction's financing, which was led by Wells Fargo & Co.
"Our acquisition of Ransome CAT represents a key part of our corporate growth strategy," said Jamie Foley, CEO, Foley, Inc. "Lowenstein's smart, practical guidance throughout the acquisition process was instrumental in helping us effectively execute this critical transaction."
"Lowenstein Sandler has had the privilege of working on many matters with the Foley team. However, it is safe to say that our work on this highly strategic and transformative transaction has been the highlight of our more than 50-year tenure as Foley's counsel," said Nicholas San Filippo IV, lead deal partner.
The Lowenstein deal team that worked with Foley included Nicholas San Filippo IV, John L. Berger, Nick Samedi, Matthew A. Nemeth, Norman W. Spindel, Daniel A. Suckerman, Sami Najib, Stuart S. Yusem, Kimberly E. Lomot, Andrew E. Graw, Nicholas G. Mehler, Christine Osvald-Mruz, Jeffrey M. Shapiro, Eric Jesse, Megan Monson, Kristin Taylor, and Min Xue.