5/14/2008
The multi-million dollar transaction will allow BPT through a newly created entity called BioProcessH2O to further leverage the patented water filtration technologies it has developed with expanded manufacturing capacity, additional working capital, and new marketing and sales programs.
“We’re very happy to have assisted our client BPT with this transaction,” said Jeffrey P. Gray, Wildman Harrold partner and lead counsel to BPT. “The strategic alliance with CLARCOR will allow BPT to exploit its leading filtration technology to a far greater extent.”
Wildman Harrold’s work on the transaction included a recapitalization of BPT, which involved negotiations with both internal and external shareholders. BPT also is restructuring a loan by Slater Technology Fund, Inc., a Rhode-Island state initiative that provides funding to new and developing technology-based companies in the state.
Along with Gray, the Wildman Harrold team working on the matter included partners Joseph E. Bender and Thomas J. Ring, as well as associates Christopher J. Douglass and Mary-Katherine Price.
Wildman Harrold Advises BioProcess Technologies in Strategic Alliance with CLARCOR
CHICAGO – Wildman Harrold is pleased to have represented client BioProcess Technologies, Ltd. (BPT), a privately-owned Rhode Island company that develops wastewater filtration products, in a strategic alliance with CLARCOR, Inc. (NYSE: CLC), a diversified marketer and manufacturer of mobile, industrial and environmental filtration products and consumer and industrial packaging products sold in domestic and international markets.The multi-million dollar transaction will allow BPT through a newly created entity called BioProcessH2O to further leverage the patented water filtration technologies it has developed with expanded manufacturing capacity, additional working capital, and new marketing and sales programs.
“We’re very happy to have assisted our client BPT with this transaction,” said Jeffrey P. Gray, Wildman Harrold partner and lead counsel to BPT. “The strategic alliance with CLARCOR will allow BPT to exploit its leading filtration technology to a far greater extent.”
Wildman Harrold’s work on the transaction included a recapitalization of BPT, which involved negotiations with both internal and external shareholders. BPT also is restructuring a loan by Slater Technology Fund, Inc., a Rhode-Island state initiative that provides funding to new and developing technology-based companies in the state.
Along with Gray, the Wildman Harrold team working on the matter included partners Joseph E. Bender and Thomas J. Ring, as well as associates Christopher J. Douglass and Mary-Katherine Price.
About Wildman Harrold
Wildman Harrold is a 200-attorney business law firm based in Chicago representing Fortune 500 companies and private businesses in Litigation, Business Transactions and Intellectual Property. The national litigation practice is recognized as one of the best in the country and was selected by Corporate Counsel magazine as a “Go-To” Law Firm. The transaction department provides legal counsel on all corporate matters with a highly-specialized practice for private equity funds. The Intellectual Property practice addresses the full-range of IP issues and includes a premier team of Privacy and Data Security attorneys.About CLARCOR
CLARCOR (www.clarcor.com) is based in Franklin, Tennessee, and is a diversified marketer and manufacturer of mobile, industrial and environmental filtration products and consumer and industrial packaging products sold in domestic and international markets.
About BioProcess Technologies
BioProcess Technologies is a privately-owned company based in Portsmouth, Rhode Island. Further information can be found at www.bioprocessh2o.com.