Smurfit Kappa in $11bn merger with WestRock Company

Dublin-headquartered Smurfit Kappa Group, the FTSE 100 paper-based packaging company, has agreed to combine with US-based WestRock Company, an S&P 500 packaging company, to form Smurfit WestRock.

Matheson is advising Smurfit Kappa in partnership with US firm Wachtell, Lipton, Rosen & Katz and UK firm Freshfields Bruckhaus Deringer LLP, while McCann FitzGerald is advising WestRock Company in partnership with Paul, Weiss, Rifkind, Wharton & Garrison LLP and Cravath, Swaine & Moore LLP.

The $11 billion deal will create a global leader in sustainable packaging worth an estimated $20 billion, according to reports. Subject to the satisfaction of the conditions to closing, the transaction is expected to close in the second quarter of 2024.

The Matheson team advising Smurfit Kappa is led by partners based in the firm’s Dublin and New York offices, including David Fitzgibbon, co-head of the corporate department and head of corporate M&A, and partners David Jones and Susanne McMenamin.

The partners are supported by a corporate M&A team of senior associate Alan McMullan, associate Joanna Crowley, solicitors Darren Quinn, Leo Collins, Megan Gantly, Kevin Lavin and Rachel Hodgins, and trainees Peter Holland and Ciara Hayes.

The deal team also includes tax principal John Ryan, partners Philip Tully, Tomas Bailey and Matthew Broadstock, and associate Rachel O’Sullivan in the tax team; anti-trust partner Kate McKenna and senior associate Simon Shinkwin; and finance partners Christian Donagh and Maireadh Dale, supported by senior associate Sherilyn Deane and associate Nicole Burke.

The McCann FitzGerald team advising WestRock is led by partners David Byers, Stephen FitzSimons, Gary McSharry and Alan Heuston.

Customer communications company Mail Metrics acquires rival Dafil

Mail Metrics, a specialist in outsourced customer communications, has acquired Dafil, a provider of secure, print and mail communications.

Taylor Wessing advised Mail Metrics on the transaction, which cements Mail Metrics’ leading position in the communications sector in Ireland.

Mail Metrics typically works with firms in regulated industries including financial services and healthcare where it handles millions of business-critical, regulatory and customer communications each year ranging from renewal notices, claims correspondence and healthcare information to general customer communications.

Dafil is a leading provider of secure, print and mail communications to highly regulated industries. The acquisition enables both companies to join forces in offering their mutual clients a multi-channel communication solution, catering to all customer demographics and preferences.

The Taylor Wessing team in Dublin was led by partner Paddy Quinlan and associate Ameer Gazder in the corporate team, partner Libby Garvey and associate Laura Brohan in the banking and finance team, and partner Órlaith Molloy and senior associate Sarah Kelly in the real estate team.

eflow Global raises £7m in Series A funding round

UK-based regtech scaleup eflow Global has raised £7 million in capital through a Series A funding round led by Finch Capital.

Philip Lee advised Finch Capital on the successful funding round.

Founded in 2004, eflow Global provides financial firms with software solutions to help them comply with their regulatory requirements. They offer award-winning solutions for market abuse surveillance, transaction-cost analysis, transaction reporting and eComms surveillance.

Led by Finch Capital and supported by Atempo and ScaleUp Group partners, the funding round will help to accelerate eflow’s growth with a particular emphasis on strengthening footholds in North America and Asia-Pacific.

The Philip Lee team was led by partner Andrew Tzialli with assistance from Olivia Creaven and Mary Hennessy.