Dechert LLP advised the special committee of Steiner Leisure Limited (NASDAQ:STNR), a worldwide provider and innovator in the fields of beauty, wellness and education, in its definitive merger agreement to be acquired by Catterton, a leading consumer-focused private equity firm. Under the merger agreement, an affiliate of Catterton will acquire all of the outstanding shares of Steiner Leisure for US$65 per share in cash. The total transaction value, including assumed net debt, is approximately US$925 million.
The transaction is expected to close in the fourth quarter of 2015 or in early 2016.
The Dechert team advising Steiner Leisure is led by partners Carmen Romano and Derek Winokur, and includes partner Sarah Gelb as well as associates Cody Cowper, Ruslan Korteski, Jon Stott and Steven Stoute.
Source: www.dechert.com
