Ropes & Gray is proud to have represented flooring company Empire Today® in its successful liability management and financing transaction that received the support of more than 99% of the company’s lenders. The transactions resulted in the company obtaining significant incremental liquidity and extending its existing debt maturities.
Empire Today, a leading provider of installed home improvements and home furnishings for the last 65 years, is a portfolio company of Charlesbank Capital Partners. The transaction was announced in a Nov. 18 press release and closed on Nov. 27.
Empire Today’s new revolving credit facility will mature in February 2029 and the maturity for virtually all of its term loan was extended to August 2029. Additionally, under the agreement, Empire Today's financial covenant was waived for the next two years; the company has no other financial covenants during this time.
The team included credit opportunities partner Leo Klingbaum, business restructuring partners Ryan Preston Dahl and Daniel Gwen, IP transactions partner Erica Han, private equity partner PJ Sullivan, litigation & enforcement partner Matt McGinnis, and finance partner Michael Lee.
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