Press Release July 02, 2014

Goodwin Procter Advises Gibson Brands on Acquisition of WOOX Innovations and Related High Yield Note Financing

A cross practice team of Goodwin Procter attorneys recently advised Gibson Brands on its global acquisition of WOOX Innovations from Koninklijke Philips N.V. and on the related high yield note financing. A diversified, global consumer electronics company with $1.5 billion in revenue in fiscal 2013, WOOX is engaged in the design, production, sale and support of consumer audio, headphone, home cinema, home communication, multimedia and AV accessories, which are primarily marketed under the Philips brand.

Founded in 1894 and based in Nashville, Tenn., Gibson Brands is a leading designer, manufacturer, marketer and worldwide distributor of premium musical instruments, consumer electronics, professional audio equipment and related accessories. The acquisition of WOOX offers Gibson Brands the opportunity to capitalize on complimentary portfolios, geographic footprints and core competencies, and significantly expands Gibson Brands’ global reach. Gibson Brands recorded pro forma net sales and pro forma Adjusted EBITDA of $2.2 billion and $89.0 million in fiscal 2013.

Goodwin previously advised Gibson Brands on its $225 million high yield notes offering and $75 million ABL facility in August 2013.

The Goodwin team advising on the acquisition was led by partner John LeClaire and included partners Howard Cubell (Tax), Yash Rana and Chris Yu (Hong Kong), Scott Webster (ERISA), Rich Matheny (Regulatory), Rob Hale (Labor & Employment), Jeff Klein (IP), Todd Cronan (Litigation), Andy Sucoff (Real Estate) and Greg Bibler (Environmental), as well as counsel Kirby Lewis and Todd Hahn (Antitrust).

The Goodwin team advising on the high yield note financing was led by partner James Barri and included partners Milena Tantcheva and Laura Rupenian (Leveraged Finance), Brad Bugdanowitz (Capital Markets), Janet Andolina (Tax), and Yash Rana and Paul Lyons (U.K.).

For more information, please see the companies’ joint press release announcing the transaction.