Nexeo Solutions Inc. (NXEO): Park West Asset Management Discloses Fresh Position

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Is it a good time to buy Nexeo Solutions Inc. (NASDAQ:NXEO)? Peter S. Park seems to think so, as his fund, Park West Asset Management has disclosed a fresh stake in the company through a recent filing with the Securities and Exchange Commission. Mr. Park’s fund now holds roughly 4.27 million Nexeo shares in addition to warrants to purchase up to 829,369 shares, giving it economic exposure to some 5.7% of Nexeo Solutions’ common stock.

Nexeo Solutions Inc. (NASDAQ:NXEO) was formed following the acquisition of Nexeo Solutions Holdings by WL Ross Holding Corp, billionaire Wilbur Ross‘ investment vehicle. The deal was valued at approximately $1.6 billion and included both cash and stock and closed during the second quarter. Following the completion of the takeover, the new entity changed its name to Nexeo Solutions. The company is now the largest plastic distributor in the U.S and the largest chemical and plastics distributor in the world. With the U.S chemical industry currently undergoing a broader shift, the management of Nexeo Solutions plans to cement its position as a leader through further M&A.

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Jeffrey Tannenbaum‘s Fir Tree held 4.87 million shares of Nexeo Solutions Holdings, the predecessor of Nexeo Solutions Inc., at the end of March, down by 2% over the quarter, and was the largest shareholder of the stock among the funds followed by Insider Monkey. Joshua Friedman and Mitchell Julis‘ Canyon Capital Advisors was also invested heavily in the company, holding exactly 3.9 million shares, unchanged during the quarter.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Park West Asset Management 5,096,280 0 5,096,280 0 5,096,280 5.7%
Peter S. Park 5,096,280 0 5,096,280 0 5,096,280 5.7%

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Page 1 of 9 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No.  )*
(Name of Issuer)
(Title of Class of Securities)
(CUSIP Number)
June 22, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed:
o  Rule 13d-1(b)
x  Rule 13d-1(c)
o  Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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