Atlantic Coastal Acquisition Corporation’s Merger with Essentium

Pillsbury Winthrop Shaw Pittman advised Atlantic Coastal Acquisition Corporation on the deal, while Latham & Watkins represented Essentium.

Special purpose acquisition company Atlantic Coastal Acquisition Corporation announced its combination with industrial 3D printing solutions provider Essentium Inc. The deal reflects an enterprise value of $974 million for Essentium.

The transaction includes a private investment in public equity of more than $40 million anchored by strategic and institutional investors including BASF, Atalaya Capital Management LP and Apeiron Investment Group, the private investment firm of entrepreneur and investor Christian Angermayer. Upon completion of the merger, the combined company is anticipated to retain the Essentium name and be publicly traded on the NASDAQ exchange under the ticker symbol ADTV.

Founded in 2013, Essentium is an advanced manufacturing ecosystem provider that develops industrial 3D printing solutions across systems, materials, software, and services to enable a new distributed and sustainable manufacturing footprint.

The Pillsbury cross-practice team advising Atlantic Coastal Acquisition Corporation on this transaction is led by partners Stephen Amdur (Picture), Bianca Bowen, Stephen Ashley and Matt Oresman. The deal team also includes Corporate partners David Ingles, Davina Kaile, Jenny Y. Liu, Gabriella A. Lombardi and Bob Robbins, senior counsel Ildiko Duckor, China counsel Amy Y. Liu, senior associate Mediha M. Ali, associates Nina Bakhtina, Juan Pablo Cordon, Brandon B. Eckford, Andy Gong, Anthony Krueger, Harriet McCartin and Christopher Wing, and senior law clerks Melissa Bales, Henry Guerra, Denis O’Regan and Mackenzie Pantoja; Finance partners Daniel N. Budofsky and Joel Simon, senior counsel Kenneth Suh, and associates Danielle G. Unterschutz and Sacha D. Urbach; Tax partners Brian M. Blum and Nora E. Burke; Executive Compensation & Benefits partners Jessica Lutrin and Keith Ranta, and associates Ena Kaur and Tal Simon; Environmental partner Tom Van Wyngarden, partner-elect Reza S. Zarghamee, and associate Stephanie Angkadjaja; Global Sourcing partners Steven Farmer and Meighan E. O’Reardon, and associate Scott Morton; Intellectual Property partner Edward A. Cavazos, attorney Robert C. F. Pérez, and associate Sandro Serra; Litigation partners Ari M. Berman, Bruce A. Erickson, Peter M. Gillon and Michael Sibarium, counsel Lee Brand and David Oliwenstein, special counsel Rebecca Carr Rizzo and Andrea Milano, attorneys Bryan J Coffey and Evan Storm, and associates Eremi M. Amabebe and Roland C. Reimers; Real Estate partner Caroline A. Harcourt and associate Natalie S. Starkman; and Public Practices partners Nancy A. Fischer and Alexander Ginsberg, partner-elect Matthew R. Rabinowitz, senior associate Aaron S. Ralph, and associates Rose Fowler Lapp, Toochi L. Ngwangwa, Zachary C. Rozen and Toghrul Shukurlu.

Latham & Watkins represented Essentium, Inc. in the transaction with a corporate deal team led by Austin partner Jen Smith and Houston partner Nick Dhesi, with Houston associates Bryan Ryan, Jordan Mack, Jessica Sherman, Vera Bespalova, and Haley Sandoval. Advice was also provided on tax matters by Houston partner Tim Fenn, with Houston associate Mike Rowe; on antitrust matters by Washington, D.C. partner Jason Cruise, Frankfurt partner Max Hauser and Washington, D.C. counsel Joseph Simei; on regulatory matters by Washington, D.C. partner Jim Barker and Washington, D.C. counsel Kyle Jefcoat and Dean Baxtresser; on benefits and compensation matters by Washington, D.C. partner David Della Rocca and Washington, D.C. counsel Laura Szarmach; on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with Bay Area associate Caroline Omotayo; and on environmental matters by Washington, D.C. partner James Barrett and Los Angeles counsel Josh Marnitz.

Involved fees earner: James Barker – Latham & Watkins; James Barrett – Latham & Watkins; Dean Baxtresser – Latham & Watkins; Vera Bespalova – Latham & Watkins; Jason Cruise – Latham & Watkins; David Della Rocca – Latham & Watkins; Nick Dhesi – Latham & Watkins; Timothy Fenn – Latham & Watkins; Sebastian Max Hauser – Latham & Watkins; Kyle Jefcoat – Latham & Watkins; Jordan Bartley Mack – Latham & Watkins; Joshua Marnitz – Latham & Watkins; Caroline Omotayo – Latham & Watkins; Michelle Gross – Latham & Watkins; Michael Rowe – Latham & Watkins; Bryan Ryan – Latham & Watkins; Haley Sandoval – Latham & Watkins; Jessica Sherman – Latham & Watkins; Joseph Simei – Latham & Watkins; Jenifer Smith – Latham & Watkins; Laura Szarmach – Latham & Watkins; Mediha Ali – Pillsbury Winthrop Shaw Pittman LLP; Stephen Amdur – Pillsbury Winthrop Shaw Pittman LLP; Stephanie Angkadjaja – Pillsbury Winthrop Shaw Pittman LLP; Nina Bakhtina – Pillsbury Winthrop Shaw Pittman LLP; Ari Berman – Pillsbury Winthrop Shaw Pittman LLP; Brian Blum – Pillsbury Winthrop Shaw Pittman LLP; Lee Brand – Pillsbury Winthrop Shaw Pittman LLP; Daniel Budofsky – Pillsbury Winthrop Shaw Pittman LLP; Nora Burke – Pillsbury Winthrop Shaw Pittman LLP; Robert C.F. Pérez – Pillsbury Winthrop Shaw Pittman LLP; Rebecca Carr Rizzo – Pillsbury Winthrop Shaw Pittman LLP; Edward Cavazos – Pillsbury Winthrop Shaw Pittman LLP; Bryan Coffey – Pillsbury Winthrop Shaw Pittman LLP; Juan Pablo Cordon – Pillsbury Winthrop Shaw Pittman LLP; Ildiko Duckor – Pillsbury Winthrop Shaw Pittman LLP; Brandon Eckford – Pillsbury Winthrop Shaw Pittman LLP; Bruce Ericson – Pillsbury Winthrop Shaw Pittman LLP; Steven Farmer – Pillsbury Winthrop Shaw Pittman LLP; Nancy Fischer – Pillsbury Winthrop Shaw Pittman LLP; Peter Gillon – Pillsbury Winthrop Shaw Pittman LLP; Alexander Ginsberg – Pillsbury Winthrop Shaw Pittman LLP; Andy Gong – Pillsbury Winthrop Shaw Pittman LLP; Caroline Harcourt – Pillsbury Winthrop Shaw Pittman LLP; David Ingles – Pillsbury Winthrop Shaw Pittman LLP; Davina Kaile – Pillsbury Winthrop Shaw Pittman LLP; Ena Kaur – Pillsbury Winthrop Shaw Pittman LLP; Anthony Krueger – Pillsbury Winthrop Shaw Pittman LLP; Amy Liu – Pillsbury Winthrop Shaw Pittman LLP; Jenny Liu – Pillsbury Winthrop Shaw Pittman LLP; Gabriella Lombardi – Pillsbury Winthrop Shaw Pittman LLP; Jessica Lutrin – Pillsbury Winthrop Shaw Pittman LLP; Harriet McCartin – Pillsbury Winthrop Shaw Pittman LLP; Andrea Milano – Pillsbury Winthrop Shaw Pittman LLP; Scott Morton – Pillsbury Winthrop Shaw Pittman LLP; Toochi Ngwangwa – Pillsbury Winthrop Shaw Pittman LLP; David Oliwenstein – Pillsbury Winthrop Shaw Pittman LLP; Matthew Oresman – Pillsbury Winthrop Shaw Pittman LLP; Meighan O’Reardon – Pillsbury Winthrop Shaw Pittman LLP; Matthew Rabinowitz – Pillsbury Winthrop Shaw Pittman LLP; Aaron Ralph – Pillsbury Winthrop Shaw Pittman LLP; Keith Ranta – Pillsbury Winthrop Shaw Pittman LLP; Roland Reimers – Pillsbury Winthrop Shaw Pittman LLP; Robert Robbins – Pillsbury Winthrop Shaw Pittman LLP; Zachary Rozen – Pillsbury Winthrop Shaw Pittman LLP; Sandro Serra – Pillsbury Winthrop Shaw Pittman LLP; Toghrul Shukurlu – Pillsbury Winthrop Shaw Pittman LLP; Michael Sibarium – Pillsbury Winthrop Shaw Pittman LLP; Joel Simon – Pillsbury Winthrop Shaw Pittman LLP; Evan Storm – Pillsbury Winthrop Shaw Pittman LLP; Kenneth Suh – Pillsbury Winthrop Shaw Pittman LLP; Danielle Unterschutz – Pillsbury Winthrop Shaw Pittman LLP; Sacha Urbach – Pillsbury Winthrop Shaw Pittman LLP; Tom Van Wyngarden – Pillsbury Winthrop Shaw Pittman LLP; Christopher Wing – Pillsbury Winthrop Shaw Pittman LLP; Reza Zarghamee – Pillsbury Winthrop Shaw Pittman LLP;

Law Firms: Latham & Watkins; Pillsbury Winthrop Shaw Pittman LLP;

Clients: Atlantic Coastal Acquisition Corporation; Essentium;

Martina Bellini

Author: Martina Bellini