NEW YORK, March 22, 2022 – Proskauer, a leading international law firm, announced today that it represented CCOM Group, Inc. (OTC Pink: “CCOM”, “CCOMP”) in its definitive merger agreement under which Goodman Distribution, Inc., a subsidiary of Daikin Industries, Ltd., will acquire all of CCOM’s issued and outstanding common stock and convertible preferred stock for $2.71 per share in cash.
CCOM Group, Inc., based in Hawthorne, New Jersey with 15 total locations, has been an industry leader in HVAC, climate control systems, plumbing and electrical supplies for more than 100 years. CCOM’s subsidiaries, Universal Supply Group, Inc., RAL Supply Group, Inc., and S&A Supply, Inc., have shaped it into a leading full-line distributor of HVAC products, building management systems, plumbing and electrical supplies, and parts and accessories in the northeastern U.S.
The transaction is expected to close in the first half of the year, subject to customary closing conditions. Following the closing of the transaction, CCOM and its subsidiaries will operate as a wholly-owned business unit of Goodman, while maintaining headquarters in Hawthorne, New Jersey with more than 165 employees.
The Proskauer team was led by partner Mike Ellis and associate Grant Darwin (M&A). It included associate Jillian Ruben and law clerk Lauren Altus (M&A); partners Colleen Hart and Kate Napalkova and associate Kaitlin Hulbert (Employee Benefits); partner Malcolm Hochenberg and law clerk Rita Halabi (Tax); partner Louis Rambo (Capital Markets); and senior counsel Aliza Cinamon (Environmental).
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Proskauer has one of the premier global mergers and acquisitions practices. Over the past two years, we have advised on over 200 M&A transactions with an aggregate value of over $165 billion. Last year, the Firm advised on some of the most complex M&A transactions across a range of industries. Recent representations include advising long-time client Stamps.com in its $6.6 billion acquisition by leading software investment firm, Thoma Bravo; representing Accor in connection with its exclusive negotiations with Ennismore to form the world’s leading lifestyle operator in the hospitality sector; and counseling Grifols and its affiliate Biomat in a $1 billion investment by the Singaporean Sovereign Wealth Fund GIC.