PE Invests $35M in Hanley Wood Recap

The new Hanley Wood ownership group, led by Oaktree Capital Management, Strategic Value Partners and Tennenbaum Capital Partners, has invested a fresh $35 million of equity in the company as part of a recapitalization deal. The deal marks a change of ownership for the company and will reduce its long-term debt by approximately $330 million. Houlihan Lokey advised the company and Latham & Watkins served as the company's legal counsel. Skadden, Arps, Slate, Meagher & Flom provided counsel to the ownership group.