Ten Million Shares of Orion Engineered Carbons Sold by Kinove Luxembourg Holdings 1 in Registered Secondary OfferingNovember 10, 2017
Ten million shares of S&C client Orion Engineered Carbons S.A. were sold in a registered secondary offering made by its principal shareholder, Kinove Luxembourg Holdings 1 S.à r.l. (a Luxembourg company owned primarily by funds managed by private equity firms Rhone Capital L.L.C. and Triton Investment Management Limited), and certain current and former members of Orion's management team. The selling shareholders also granted the underwriters a ”greenshoe” option to purchase additional shares. The offering was structured as an underwritten block trade with Morgan Stanley & Co. LLC serving as underwriter.
Orion is a worldwide supplier of specialty and high-performance Carbon Black organized as a Luxembourg joint stock corporation (société anonyme). Orion's common shares are listed on the New York Stock Exchange. Following the offering, Kinove owns approximately 18 percent of Orion's outstanding common shares.
The S&C team representing Orion was led by Robert Risoleo and David Harms, along with Abigai Yevnin and Megan Colville. Lauren Citrome advised on U.S. tax matters.