DLA Piper represented Vertellus Specialties Inc., a global specialty chemicals company, in a chapter 11 bankruptcy filing and completion of the anticipated sale of the majority of its assets to Valencia Bidco LLC, a new entity formed by the company's existing term loan lenders. The transaction closed on October 31, 2016.

The transaction will provide the company with an enhanced capital structure and greater flexibility in selecting investments. The new Vertellus group of companies will be led by members of the existing leadership team.

The DLA Piper team representing Vertellus was led by global co-chair of the Restructuring practice Richard Chesley (Chicago) and included Steven Napolitano (Chicago), Jamie Knox (New York) and Frank Mugabi (New York), Randi Bernstein (Washington, DC), Stacy Paz (Silicon Valley), Stuart Brown (Wilmington), Mark Boxer (San Francisco), and George Gigounas (San Francisco); associates Daniel Simon (Atlanta and Chicago), Jeffrey Friedman (Atlanta), David Avraham (Chicago), Kira Mineroff (New York), Kaitlin Edelman (Wilmington) and Kimberly Hyde (San Diego); and attorney Kirk Altman (Austin).