Â鶹ÊÓƵ

Paul, Weiss is advising FalconPoint Partners, a private equity firm focused on investing in North American middle market companies in the business services and industrial sectors, on its carve-out acquisition of SMS from Scrap Metal Services LLC.

SMS is a fast-growing business that provides outsourced services, including site environmental services and scrap and slag management, to steel mills in the U.S., Europe and South America. It also provides marine vessel decommissioning services to the U.S. Maritime Administration and various commercial maritime companies. Financial terms of the agreement were not disclosed. FalconPoint has also pledged $500 million to support SMS’ growth, market share gains and buildout of new and existing customer sites with state-of-the-art equipment.

The Paul, Weiss team is led by corporate partners Brian Lavin and Angelo Bonvino, and counsel Ishan Jhingran, and includes partners David Tarr; tax partner Anne McGinnis and  counsel Samir Kurani; intellectual property partner Chuck Googe; and executive compensation counsel Lisa Krausz Eisenberg.