BOYARMILLER: BoyarMiller Closes Complex Capital Transaction for Welcome Group, LLC

By Press release submission | Feb 4, 2019

BoyarMiller issued the following announcement on Jan. 28.

BoyarMiller represented Houston-based Welcome Group, a single-tenant industrial owner and development firm, in a highly complex capital transaction that secured financing for the company’s expansion and future growth. Welcome Group, LLC owns more than 85 industrial buildings in Texas comprising about four million leasable square feet.

“THE private equity transactions often involve multiple layers of complex legal, business and relationship issues,” said BoyarMiller Founding Shareholder Bill Boyar. “Our attorneys work diligently to assure that our clients arrive at the optimal deal, both financially and in terms of business flexibility. We were proud to represent Welcome Group in this extremely important deal that helps to secure the family’s future plans for the company.”

“The Welcome Group was able to move forward with negotiations with total confidence because we were represented by a firm that had been there 50 times before. Bill Boyar knew one of the principals of the New York firm that was furnishing the $300 million and his advice to us was priceless. BoyarMiller is the best,” said Welcome Wilson, Jr, CEO of Welcome Group, LLC.

Boyar said the transaction was highly complex involving more than 20 lenders and about 150 documents covering all aspects of debt structure, governance, tax implications, ownership and more. Welcome Group received as much as $300 million in capital from New York Investment firm Almanac Realty Investors LLC, which will allow expansion outside of Texas for the first time and will allow growth of the Welcome portfolio to more than $1 billion.

“I am extremely proud of our team and the relentless work to represent and counsel the Wilson family in providing practical business solutions that advanced their strategic goals,” said Boyar. “It was a process that required a strong partnership with our client, as well as creativity and tenacity—in making this significant transaction a reality.”

Boyar led the BoyarMiller team that included Senior Associate P. Cyrus Chin and Associate Alex Parker.

As strategic business partners to clients, BoyarMiller works to secure financing and develop the capital structure needed to increase the value of their businesses.

Original source can be found here.

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