Polaris Leads Group of Original Equipment Manufacturers in Connection With the Acquisition of Walbro in Bankruptcy Sale

Paul, Weiss advised Polaris Inc., the global leader in powersports, as lead member of a consortium of original equipment manufacturers in connection with an Active Dynamics Group affiliate’s acquisition of First Brands Group’s Walbro business pursuant to section 363 of the U.S. Bankruptcy Code. Under the agreement Overdrive Capital, LLC, acquired Walbro, which makes small-engine fuel systems for Harley Davidson Motor Co. and other vehicle manufacturers, for $50 million in cash plus debt. The deal was approved by the U.S. Bankruptcy Court for the Southern District of Texas on March 13 as part of First Brands’ chapter 11 proceedings.

The Paul, Weiss team was led by partners Dotun Obadina and Robert Britton, and included corporate partner Mark Adler; intellectual property partners Bonnie Chen and Meggin Bednarczyk; executive compensation partner Christopher Gonnella; tax partner Brian Krause; real estate partner Peter Fisch; environmental partner Stefanie Gitler; and antitrust partner Chad de Souza.