We advised Neovia Logistics in connection with its recapitalization

Davis Polk advised Neovia Logistics Holdings Limited and certain of its subsidiaries (collectively, “Neovia” or the “Company”) in connection with a comprehensive business recapitalization that substantially deleveraged the Company’s balance sheet, provided an infusion of new capital and will allow Neovia to invest in growing its business and provide greater value to its customers.

On November 1, 2022, Neovia entered into a master transaction agreement with its sponsors and lenders to implement the recapitalization and related transactions. The agreement provided for the equitization of approximately $420 million of debt and approximately $60 million in new-money financing commitments.

Based in Irving, Texas, Neovia is a global leader in third-party logistics, operating more than 100 facilities in 20 countries across four continents. For over 30 years, Neovia has combined an OEM mindset with real-world innovation to partner with, and solve complex logistics challenges for, leading companies in the automotive, industrial, aerospace and consumer products sectors.

The Davis Polk restructuring team included partner Darren S. Klein, counsel Steven Z. Szanzer and associate Max J. Linder. The finance team included partner J.W. Perry and counsel Sanders Witkow. Partner John D. Amorosi provided corporate advice. The tax team included partners Jonathan Cooklin and William A. Curran and counsel Tracy L. Matlock. The antitrust and competition team included associate Léonore De Mullewie. Members of the Davis Polk team are based in the New York and London offices.