Cripps advises Chromalloy on International pre-sale restructuring

Cripps has advised long-standing client, Chromalloy Gas Turbine, LLC, on a complex international reorganisation as a precursor to the recently announced sales of Trac Mexico Limited to Walbar Engine Components (U.S.) and Trac Group Limited to RCapital (UK).

The project involved two separate restructurings covering multiple jurisdictions, including the UK, the EU, the U.S. and Bermuda, which were required to simplify the intercompany loan structure and transfer ownership of a portion of the group portfolio to mitigate tax risks. Additionally, National Security & Investment (NS&I) approval was required for the group reorganisation, as well as bank consents.

Katie Haylock and Meg Harold led the restructuring and reorganisation alongside PwC US, which prepared the group restructure steps plan and local counsel in all relevant jurisdictions.

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