Latham Advises on Financing for Unitex and CVC Strategic Opportunities’ Strategic Partnership

Unitex Textile Services LLC (Unitex) and CVC, a prominent global investment firm, have announced a strategic partnership aimed at supporting Unitex’s ongoing growth and long-term development.

CVC, through its Strategic Opportunities platform, will make an investment in Unitex alongside the Potack family. The Potack family will maintain a substantial ownership stake and continue to lead the company.

This transaction is notable as it represents the first external equity investment in Unitex’s history of more than 100 years.

Latham & Watkins LLP served as legal counsel to Apollo and the other arrangers and lenders involved in the financing.

The Latham team was led by partners Jesse Sheff and Erika Weinberg, with counsel Preeta Paragash and Katherine Page, along with associate Kai Yeo, contributing to the deal.

Key Takeaways

  • Unitex and CVC have entered a strategic partnership to support growth and development.
  • CVC will invest through its Strategic Opportunities platform alongside the Potack family.
  • The Potack family retains significant ownership and management control.
  • This deal marks Unitex’s first external equity investment in over 100 years.
  • Latham & Watkins LLP provided legal counsel for the financing, led by a dedicated team of partners and associates.