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Apollo

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RESTRUCTURING

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SPONSOR

Angelo Gordon

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Apollo

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Ardian

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Ares

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Blackstone

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Brookfield

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Charlesbank

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Clearlake

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Golden Gate

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H.I.G. Capital

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HPS

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KKR

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Macquarie

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Oaktree

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One Rock

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Onex

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Siris Capital

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Vista

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Consumer & Retail

+3

Hostess Brands: The Pension Liability That Ate Twinkies
LockSimple

May 29, 2026

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24 min read

Hostess Brands: The Pension Liability That Ate Twinkies

Understanding the Role of Multi-Employer Pensions in Hostess’s 2012 Chapter 22

Tech, Media & Telecom

+3

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy
LockSimple

Oct 31, 2025

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31 min read

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

How an expected beneficiary of the semiconductor boom collapsed from its largest bet on silicon carbide

Consumer & Retail

+3

Bird Global: From VC Unicorn to Chapter 11

Aug 8, 2025

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5 min read

Bird Global: From VC Unicorn to Chapter 11

What began as the fastest unicorn in VC history ended with a bankruptcy filing, a 97% shareholder wipeout, and Apollo walking away with the keys

Tech, Media & Telecom

+4

Global Eagle Restructuring: Lessons From a Satellite-Internet SPAC Rollup

Jul 11, 2025

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27 min read

Global Eagle Restructuring: Lessons From a Satellite-Internet SPAC Rollup

A cautionary tale in leverage, capital structure, and rescue financing gone wrong

Industrials

+4

What is the Hunter-gatherer LMT and analysis of the Ardagh-Apollo deal
LockSimple

Jun 10, 2025

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4 min read

What is the Hunter-gatherer LMT and analysis of the Ardagh-Apollo deal

Primer, Simplified Example, Case Study Deep Dive, Uptier Comparison

Consumer & Retail

+2

Serta is Back, Baby
LockSimple

Jan 17, 2025

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9 min read

Serta is Back, Baby

The 2020 Transaction, Permissibility and Litigation, Indemnification of Uptier Litigation, 5th Circuit Review, Credit Language and LME Implications

Industrials

+5

Trinseo, a Double Dip "Pari-Plus" Case Study
LockSimple

Sep 27, 2024

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13 min read

Trinseo, a Double Dip "Pari-Plus" Case Study

Today, we are going to look at another variation of the double-dip: the pari-plus transaction by analyzing the fascinating restructuring of Trinseo.

Pari Passu

Restructuring, credit, and distressed debt insights from a hedge fund analyst and former restructuring banker

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