Kirkland Advises Ramaco Resources on Decision to Acquire Ramaco Coal
Kirkland & Ellis counseled Ramaco Resources, Inc. (NASDAQ: METC) on an agreement in principle for its subsidiary, Ramaco Development, LLC, to acquire 100 percent of the equity interests of Ramaco Coal, LLC, an entity owned by an investment fund managed by Yorktown Partners, LLC and certain members of the Company's management. The consideration for the acquisition will consist of (i) an initial payment of $5 million due at closing and (ii) an aggregate deferred purchase price of $60 million, consisting of (A) $20 million, to be paid during the remainder of 2022 in $5 million ratable quarterly installments, and (B) $40 million, to be paid during 2023 in $10 million ratable quarterly installments.
The Kirkland team was led by corporate partners Josh Teahen and Bill Benitez and associate Markus Wang; debt finance partner Jordan Roberts and associate Michelle Williamson; and tax partner Mark Dundon.
