Warburg Pincus’ Acquisition of FlexXray

Cleary Gottlieb represented Warburg Pincus in the transaction.

Warburg Pincus executed its purchase of FlexXray Holdings from Levine Leichtman Capital Partners.  Tilia Holdings invested alongside Warburg Pincus.  The transaction closed on July 26, 2021.

FlexXray is the leading provider of x-ray inspection services focused exclusively on food safety. FlexXray assists leading food manufacturers with regulatory compliance and food safety issues by identifying and removing foreign contaminants from food. Hundreds of manufacturing plants in North America rely on FlexXray’s industry-leading expertise and customer service to salvage valuable products when contamination events occur in the normal course of the food manufacturing process. FlexXray was founded in 2001 and is headquartered in Arlington, TX. 

Warburg Pincus is a leading global private equity firm focused on growth investing and a leading investor in food safety and food supply chain services, with current and historical investments in Certified Laboratories, Hygiena, GA Foods, SPINs, Aramark, Grubhub/Seamless, Duravant, and Trimark. Tilia is also a leading investor in the food and nutrition supply chain with current investments in Refrig-It, Certified Laboratories, Universal Pure, Proven Partners Group, Ellison Bakery, NutriScience Innovations and Wheat Montana and historical investment in Safe Foods International Holdings.

The Cleary M&A team consisted of partners David Leinwand (Picture) and Aaron Meyers and associates Paul Imperatore, Caitlin Hanley and Sam Connor. Partner Margaret (Meme) Peponis and associates Lucas Hildebrand and Christopher Reszczynski advised on financing matters. Partner Michael Albano, counsel Laura Bagarella and associate Francesca Crooks advised on employment matters. Partner Jeremy Calsyn and associates Elise Lane and Tracey Zhang advised on competition matters. Partner Daniel Ilan and associate Jaehwan Park advised on IP matters. Partners Jason Factor and Corey Goodman and associate Anthony Yanez provided tax advice. Counsel Rick Bidstrup and Beau Sterling and associate Madison Bush provided advice on environmental matters. Senior attorney Jim Corsiglia provided advice on sanctions and anti-corruption matters.

Involved fees earner: Michael Albano – Cleary Gottlieb Steen & Hamilton; Laura Bagarella – Cleary Gottlieb Steen & Hamilton; Rick Bidstrup – Cleary Gottlieb Steen & Hamilton; Madison Bush – Cleary Gottlieb Steen & Hamilton; Jeremy Calsyn – Cleary Gottlieb Steen & Hamilton; Sam Connor – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton; Francesca Crooks – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Corey Goodman – Cleary Gottlieb Steen & Hamilton; Caitlin Hanley – Cleary Gottlieb Steen & Hamilton; Lucas Hildebrand – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Paul Imperatore – Cleary Gottlieb Steen & Hamilton; Elise Lane – Cleary Gottlieb Steen & Hamilton; David Leinwand – Cleary Gottlieb Steen & Hamilton; Aaron Meyers – Cleary Gottlieb Steen & Hamilton; Jaehwan Park – Cleary Gottlieb Steen & Hamilton; Margaret Peponis – Cleary Gottlieb Steen & Hamilton; Christopher Reszczynski – Cleary Gottlieb Steen & Hamilton; Beau Sterling – Cleary Gottlieb Steen & Hamilton; Anthony Yanez – Cleary Gottlieb Steen & Hamilton; Tracey Zhang – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Warburg Pincus;

Martina Bellini

Author: Martina Bellini