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News Aug 30, 2016

Shearman & Sterling Advises Equistone on the Acquisition Financing of AstroTurf

Shearman & Sterling represented Equistone Partners Europe (“Equistone”) and its portfolio company Sports Group on its financing for the acquisition of AstroTurf, a leading US manufacturer of artificial turf for sports and leisure facilities. The transaction closed on August 19, 2016.

SportGroup is a leading provider of artificial turf and other synthetic flooring for sports and leisure facilities. SportGroup’s acquisition of Astro Turf enables direct access to the US market and the opportunity to strengthen its leading global market position in the field of synthetic sports and leisure flooring.

Equistone is one of the leading Private Equity investors in Europe and one of the most active in the German mid-cap market. Shearman & Sterling already advised Equistone on various acquisition financings including SportGroup and TriStyle in 2015 and GALA Group in 2016.

The Shearman & Sterling team was led by partner Winfried M. Carli (Frankfurt-Finance) and included partners Michael J. Steinberg (New York-Finance) and Pierre-Nicolas Ferrand (Paris-Finance); counsels Matthias Weissinger (Frankfurt-Finance) and Philippe Wolanski (Paris-Finance) and associates Andreas Breu (Frankfurt-Finance), Spencer Barrowes (New York-Finance) and Laurent Bonnet (Paris-Finance).

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