Holland & Knight Advises Jabil Circuit on $725 Million Sale to iQor Holdings
Tampa, Fla. (April 2, 2014) – Holland & Knight advised electronics manufacturer Jabil Circuit, Inc. (NYSE: JBL) in the sale of substantially all of its aftermarket services business to iQor Holdings, Inc. The $725 million transaction was formally announced on December 17, 2013, and closed on April 2, 2014.
Of the $725 million purchase price, $675 million is cash and $50 million is senior nonconvertible preferred stock of iQor that accretes dividends at an annual rate of 8 percent and is redeemable in nine years or upon a change in control.
Holland & Knight Corporate Partner Chet Bacheller led the firm's representation of Jabil. The firm also recently advised Jabil on its $655 million acquisition of Nypro, Inc.