Press Release May 15, 2018

Charlesbank Enters Into Asset Purchase Agreement With The Rockport Group

The Private Equity and Financial Restructuring teams advised CB Marathon Opco, LLC, an affiliate of Charlesbank Equity Fund IX (Charlesbank), on its entry into an asset purchase agreement to purchase substantially all of the assets of The Rockport Group. The agreement with Charlesbank includes Rockport’s global wholesale assets, e-commerce platform, and retail operations in Asia and Europe. In addition, Charlesbank will have the opportunity to evaluate Rockport’s North American retail operations and determine whether it will pursue an acquisition of certain of these locations. Under the terms of the agreement, Charlesbank will also assume responsibility for payment of certain pre-petition obligations to product suppliers of the acquired assets. Charlesbank is serving as the “stalking horse bidder” in a court-supervised sale process in connection with The Rockport Group’s voluntary bankruptcy proceedings, and the closing of the transaction is subject to higher and better offers, among other conditions.

Charlesbank is a middle-market private equity firm that has invested more than $4.5 billion in more than 50 middle-market companies.

The Goodwin team was led by partners Joseph Bernardi and Jon Herzog and included partner William Weintraub; and associates Maria Gaitan and Barry Bazian.

For additional details on the agreement, please read the press release.