Karl S. Beus

For more than 25 years, Karl has provided legal and transactional advice to a broad group of clients, including Fortune 500 companies, commercial banks, investment banks, private equity firms, government agencies, developers, and privately held borrowers in large, complex domestic and cross-border transactions such as leveraged financings, leveraged buyouts, recapitalizations, acquisitions, refinancings, project financings, public and private debt offerings and restructurings, equipment financings, derivatives transactions, debtor-in-possession financings, and workouts. Karl also regularly assists corporate borrowers in capital structure planning and in optimizing domestic and international cash and treasury management systems.

In addition to his finance work, Karl works closely with corporate clients in structuring and negotiating complex commercial transactions, including domestic and international supply and distribution agreements, purchase contracts, joint ventures, and technology agreements.

Since 2007, Karl has been recognized for his work in Banking & Finance by Chambers USA, most recently ranked in Band 2 in Banking & Finance in Ohio (2023). Clients reported to Chambers USA researchers that "Karl is knowledgeable on the subject matter of credit facilities and has a good working relationship with banks. He's a pragmatic deal-maker who always gets to the desired outcome for his clients and is available when needed. Karl has strong knowledge of the law and vast experience in negotiating deals and financing. He is impressive on the borrower side, practical, and great to work with. He is cognizant of solutions and is a practical person."

Karl was named the Commercial Finance Law “Lawyer of the Year” in Cleveland by The Best Lawyers in America^® in 2024 and 2020. Karl has been ranked in Best Lawyers since 2006.

Karl began his tenure with Calfee in 1992 and was elected Partner in 2002.

Honors & Recognitions

• Chambers USA, Banking & Finance, Band 2, Ohio (2007-2023)
• IFLR1000 – Guide to the World’s Leading Financial Law Firms, “Highly Regarded Attorney” in Banking (2018-2023)
• BTI Consulting Group Client Service All-Stars (2023)
• The Best Lawyers in America, Commercial Finance Law "Lawyer of the Year" in Cleveland (2024) and Banking and Finance Law "Lawyer of the Year" in Cleveland (2020)
• The Best Lawyers in America^®, Banking and Finance Law (2006-2024) and Commercial Finance Law (2021-2024)

Education

J.D., University of Idaho School of Law, magna cum laude, 1992

B.A., University of Utah, Phi Beta Kappa, 1989

Experience

• Acted for the borrower, a multinational manufacturing holding company with $5+ billion in annual revenue, in refinancing and upsizing its syndicated multi-currency revolving credit and term loan facilities and the implementation of an interest rate hedge for the term loan facility.
• Acted for the company in a refinancing/replacement of its syndicated receivables securitization facility. We negotiated transaction documentation, navigated inter-creditor issues, and managed the closing process, including the complex legal opinions that support these transactions.
• Acting for the client in ongoing negotiations for certain amendments to and compliance issues arising under its $1+ billion energy concession. The representation entails ongoing compliance, documentation, and restructuring issues in connection with the client’s complex energy concession.
• Acted for the client in designing, structuring, documenting, and implementing a procurement program for the deployment of certain funds reserved for the development of electric vehicle (EV) charging station infrastructure, including advising on all procurement-related and project finance issues. This matter involved the development of a structure and documentation package for the development of EV charging infrastructure and related procurement activities and closing on more than 30 EV project sites.
• Acted for a medical products manufacturing client, serving as ABL credit facility borrowers’ counsel, in negotiating loan documents on behalf of the Company and certain of its U.S. and Canadian subsidiaries and new international holding company and part of the company's exit financing from bankruptcy. The specific matter involved a $40 million asset-based revolving credit facility.
• Acted for a European private equity-owned borrower and loan parties in the negotiation of the forbearance of its split lien structure credit facilities (asset-based revolving facility and term loan facility) and the negotiation of the refinancing of both facilities.
• Served as Counsel for a public-private-partnership in connection with the monetization of $80 million in parking assets for a Midwestern U.S. university.
• Acted for RPM International Inc. (RPM) in a $400 million senior unsecured term loan, including a $100 million cross-border loan and related multicurrency fixed to floating rate swap transactions.
• Acted for Installed Building Products, Inc. (IBP) in a $200 million senior secured asset-based credit facility, with related $300 million senior secured Term Loan B and unsecured $300 million high yield bond issuance.
• Acted for a company in the minerals space in restructuring over $250 million in equipment purchase obligations.
• Acted for a company in the minerals space in structuring $500 million in notional amount of multicurrency fixed to floating rate swap transactions.
• Acted for The J. M. Smucker Company (JMS) in acquisition financing involving a Senior Unsecured $1.9 billion bridge financing commitment and Senior Unsecured $1.5 billion permanent term loan financing.
• Acted for Applied Industrial Technologies, Inc. (AIT) and certain of its subsidiaries in a $175 million receivables securitization facility.
• Acted for a large mining company in the restructuring of over $600 million in equipment lease obligations.
• Acted for US subsidiaries of Continental AG in establishing a $500 million commercial paper facility.
• Acted for Wells Fargo Bank in a $120 million syndicated secured loan facility with an automobile parts manufacturer.
• Acted as counsel to RPM International Inc. (RPM) in the issuance of $350 million of senior unsecured notes and the concurrent redemption of $300 million in convertible notes.
• Acted for a privately held manufacturer in the HVAC space with respect to a $120 million credit facility for the acquisition of a target with operations in the United States and Mexico. 
• Acted for Applied Industrial Technologies, Inc. (AIT) in acquisition financing involving a Senior Unsecured $1.2 billion bridge financing commitment and Senior Unsecured $1.03 billion permanent term loan financing.
• Acted for a private equity sponsor in $45 million senior secured credit facility and unsecured mezzanine loan to a home products manufacturer.
• Acted for a national bank in the restructuring of a $60 million secured loan to, and the ultimate workout and liquidation of, a sponsor-owned automotive parts manufacturer with operations in the United States and Mexico. 
• Acted for the agent bank in the restructuring of a $100 million syndicated secured loan to a sponsor-owned explosives manufacturer, leading ultimately to the sale of the company.
• Acted for a national bank in the restructuring of a $40 million loan to a construction products company, resulting ultimately in a sale of the loan position at a discount.
• Primary outside counsel to a national bank in connection with all distressed loan sales.
• Acted as counsel to Chart Industries Inc. (GTLS) in a $450 million senior secured revolving credit and term loan financing.
• Acted as issuer’s counsel to Chart Industries Inc. (GTLS) in an offering of $225 million of subordinated convertible notes (144A), with related call spread overlay.
• Acted for the State of Ohio in connection with the Ohio Department of Transportation’s first (and only, to date) design/build/finance/operate and maintain procurement for a 16-mile, four-lane highway in southeast Ohio; the engagement included preparation of the procurement documents, including Public Private Agreement.
• Represented a company operating in the home remodeling and repair business and assisted in obtaining distressed financing, the sale of an unprofitable subsidiary/business line, and defending the claim of an investment banker seeking a success fee for an alleged restructuring. 

Professional & Community

• American Bar Association, Member
• Ohio State Bar Association, Member
• Cleveland Metropolitan Bar Association, Member

Client Feedback

• "Karl is great to work with. He is extremely responsive, thoughtful in providing advice, and understanding how to help drive critical decisions." – Chambers USA 2023 client quote
• "Karl is an excellent attorney." – Chambers USA 2023 client quote
• "Karl is knowledgeable on the subject matter of credit facilities and has a good working relationship with banks." – Chambers USA client quote
• "He's a pragmatic deal-maker who always gets to the desired outcome for his clients and is available when needed." – Chambers USA client quote
• "Karl has strong knowledge of the law and vast experience in negotiating deals and financing. He is impressive on the borrower side, practical, and great to work with." – Chambers USA client quote
• "Karl is cognizant of solutions and is a practical person." – Chambers USA client quote