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Essex Crane Rental Corp.
Hyde Park Acquisition Corp.
$210mm SPAC Acquisition - PE Exit
Summary
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 SPAC
to acquire industrial crane rental company
- Essex Crane owns the largest specialized fleet of
lattice-boom crawler cranes and attachments in North America
- Hyde Park will acquire Essex from private equity
firm Kirtland Capital Partners for $210mm plus transaction expenses and an
adjustment for crane purchases and sales prior to closing
- The transaction will be financed through a
combination of
- up to $100 million in proceeds from Hyde Park
- a $5mm equity investment by the Essex management
team
- a $5mm equity investment by Kirtland Capital
Partners
- Essexs current private equity investors
- a $1mm equity investment by Macquarie Capital
(USA), Inc.
- a $117mm drawdown of a fully committed asset-backed credit facility from a
consortium of institutional lending sources
Announced
3.06.08
Developments
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Advisors
SEC_CODE_REF_0090001192884
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Financial
Legal
- Target: Jones Day
- SPAC: Katten Muchin
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Agreements
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Filed
on announcement
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SPAC IPO
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IPO
summary
- $90mm units sold at $8.00
- EarlyBirdCapital / Legend Merchant
Group
- Graubard Miller / Andrews Kurth
- Delaware incorporated
SEC
filings
SEC
comment letters
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Related Topics
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