Pulse Electronics Corporation has announced the completion of its acquisition by certain affiliates of the investment fund managed by Oaktree Capital Management, L.P. In accordance to previously announced transactions, Oaktree invested a total of $17 million in Pulse and subsequently acquired 100% of its outstanding shares, making Pulse a private company.
Oaktree has over $90 billion in assets under management as of December 31, 2014. The firm has over 900 employees and offices in 17 cities worldwide. Paul, Weiss, Rifkind, Wharton and Garrison LLP acted as counsel to Oaktree. Dentons US LLP acted as counsel to Pulse. The Pulse Special Committee was advised by Latham & Watkins LLP as counsel and Houlihan Lokey Capital, Inc. as financial advisor.
As a result of the transaction closing, Pulse’s stock will no longer trade in any public market. Pulse shareholders are entitled to receive $1.50 in cash for each share of common stock they held as of April 13, 2015. Pulse will continue to be led by Mark Twaalfhoven as Chief Executive Officer.
