Jackson Walker represented Zimmer Partners, LP, a registered investment advisory firm located in New York, focused on utility and infrastructure-related investments, in connection with its $850 million equity investment in common stock of FirstEnergy Corp. in a private placement of public equity (PIPE) transaction.
This investment was part of a $2.5 billion investment and restructuring transaction by FirstEnergy Corp that included a $1.62 billion in mandatory convertible preferred equity in addition to Zimmer’s investment. FirstEnergy Corp is a New York Stock Exchange listed public company that is involved in the generation, transmission, and distribution of electricity serving over six million customers in the Midwest and Mid-Atlantic regions.
Representing Zimmer Partners was Jackson Walker partner Alex Frutos. This successful representation demonstrates Jackson Walker’s experience in securities financings, which includes representing private equity firms and publicly and privately held companies in a wide range of transactions.
Alex Frutos focuses his practice on venture capital, private equity, corporate finance and securities, mergers and acquisitions, and general corporate and other transactional matters as well as corporate governance and general entity law matters. Alex represents buyers and sellers in public and private M&A transactions, issuers, underwriters, and investors in public and private debt and equity offerings, and companies and special board committees in corporate governance matters. He represents both private and public companies across several industries, including energy, technology and healthcare.