Private equity buyouts in United States

Kirkland & Ellis LLP

Kirkland & Ellis LLP's 'world class team' has consolidated its position at the top of the field, continuing long-term relationships with top funds and private equity houses including Blackstone, Bain, KKR, and Ares Management. The firm also works with growth clients engaged in a wide range of industries, with a consistent flow of deals ranging from the bulge bracket to the middle-market. The practice group has continued to attract lateral hires, most recently including arrivals of key partners from Proskauer Rose LLPMichael WoronoffMonica ShillingJonathan Benloulou, and Chris Wu all joined the Los Angeles office. Chicago partner and new firm chairman Jon Ballis continues to work closely with the firm's major clients, as does New York's Eunu Chun, who regularly represents Bain, Warburg Pincus, and Apax Partners. Peter Martelli has also received strong reviews for his work on complex high-cap transactions, most notably Blackstone's $11bn acquisition of Ultimate Software.

Testimonials

World class team. Very deep group and the team is very commercial and good at helping to find wins / win outcomes instead of creating deal issues.

Corey Fox is the best lawyer in the USA! Works around the clock. Very approachable … other side quickly trusts him which helps get deals done more quickly and without painful negotiations. He’s like a member of our deal team but he knows how to write a contract.

Available 24/7. Very commercial, never run into issues with counterparties. Pro-active, always have answers to my questions as they have anticipated what I am going to ask.

The partners at K&E are not just good lawyers – they are very commercial and are good business advisors. I like to think of my partner there as a real partner/ consiglieri, not just my attorney.

Key clients

Apax Partners

Ares Management Corporation

Bain Capital Private Equity

BC Partners

The Blackstone Group

Cerberus Capital Management

Clayton, Dubilier & Rice

KKR

Sun Capital Partners

Thoma Bravo

Work highlights

  • Advised AE Industrial Partners on its acquisition of Resolute Industrial from One Equity Partners.
  • Advised Ares Capital Management on its acquisition of Cooper’s Hawk Winery & Restaurant from KarpReilly.
  • Advised Bain Capital Private Equity on its $2bn acquisition of Rocket Software.
  • Advised BC Partners on the C$5.2bn recapitalization of Gardaworld, acquiring 51% of shares in the process.
  • Advised The Blackstone Group on its $11bn acquisition of Ultimate Software.

Latham & Watkins LLP

Latham & Watkins LLP has an experienced team, with lawyers skilled in varying transactions, including standard acquisitions, carveouts, and strategic investments. Clients include major players such as Carlyle Group, Ares, Onex, and CVC Capital Partners, with a steady flow of mandates from the firm's long-standing clients. The global private equity practice is headed by Washington DC-based Paul Sheridan, alongside vice chairs Kem Ihenacho and  Andrea Schwartzman in London and New York respectively. This global platform allows teams to be quickly formed across multiple jurisdictions in order to handle cross-border deals of significant size. Standout highlights include advising the Carlyle Group on its acquisition of StandardAero, and representing Onex in the merger of portfolio company Clarivate with Churchill Capital Corp executed via a SPAC. Other contacts in the team include Daniel Lennon and Howard Sobel, who was recently involved in Leonard Green and Ares' acquisition of Press Ganey Associates. Also of note, the team was strengthened by a combination of lateral hires and internal promotions. Alexander Johnson joined the New York office from Hogan Lovells US LLP, and Justin Hamill joined from Paul, Weiss, Rifkind, Wharton & Garrison LLPLauren AndersonEyal OrgadDavid Owen, and Amy Rigdon were all promoted to partner.

Other key lawyers:

Howard Sobel; Daniel Lennon

Testimonials

Having worked with and been across the table from many of New York’s finest firms, I can say without reservation that Latham is second to none. They are fully immersed in the market with broad and deep expertise across all practice areas relevant to our needs – primarily private and public M&A and general corporate work. They have been a phenomenal resource to our team, and to me in particular, through a number of companies and countless transactions over the past 20 years. They are priced comparatively to similar Tier 1 major market firms and they provide full transparency and greatly appreciated flexibility when required (e.g. discounts for broken deals, relaxation of payment terms, etc.). I have the very highest regard for the firm.

David Allinson is the primary attorney I work with at Latham. David is without question one of the finest corporate attorneys I have ever worked with. He is extremely knowledgeable of all facets of M&A, with a particular focus on Private Equity led transactions, has broad experience with other relevant areas and is experienced and insightful. He is a pleasure to work with, is very responsive and internalizes our issues, considerations and objectives as though they were his own. He is also very well respected at Latham enabling him to regularly source the most capable specialists (IP, Tax, Litigation, etc.) as required to service our needs. He has the full trust and confidence of me and my colleagues – which makes him an extremely rare and valuable commodity. Other Latham attorneys I regularly work with are: Thomas Malone – excellent M&A attorney with a large, effective presence. Intelligent, capable, tenacious and loyal. He always has our best interests at heart and is extraordinarily diligent in pursuing them. Jeffrey Tochner – knowledgeable, experienced and excellent IP lawyer. Has worked on the great majority of our transactions and consistently proves himself to be a huge asset. Lisa Watts – Tax partner. Lisa is one of the most intelligent attorneys I have come across with an encyclopaedic knowledge of tax law and a unique ability to express complex issues and structures in digestible terms. She is an invaluable resource in working through and suggesting solutions for often complicated, problematic tax and structural issues. Alex Kelly (Croswell) – Incredibly committed, hard-working and terrific M&A attorney who is an absolute pleasure to work with.

Strong and experienced M&A team who understand how to get the right deal done.

Pragmatic and solution-oriented without compromising on the critical points of a deal.

Key clients

The Carlyle Group

Leonard Green & Partners

Ares Capital Management Corporation

Onex Partners and Clarivate Analytics (US)

Enagás

Goldman Sachs Merchant Banking Division

Platinum Equity

Wesco Aircraft

Spectrum Equity Investors

SK Capital Partners

Cinven Partners

Accudyne Industries

BC Partners

IFM Investment Partners

Bridgepoint Advisers

Capitol Investment Corp. IV

GTCR

Odyssey Investment Partners

One Rock Capital Partners

CVC Capital Partners

Work highlights

  • Advised the Carlyle Group on its acquisition of StandardAero.
  • Advised a consortium of investors led by Leonard Green & Partners and Ares Capital Management Corporation on their acquisition of Press Ganey Associates.
  • Represented Leonard Green Partners in the sale of its interest in Caliber Collision Centers.
  • Advised on the acquisition by Enagás, along with The Blackstone Group and GIC Private, of a 44% limited partner interest in and the general partner of Tallgrass Energy.
  • Advising Goldman Sachs Merchant Banking Division on its acquisition of Capital Vision Services.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP enjoys a leading reputation in the market, with its primarily New York-based team advising many of the top fund managers, including BlackRock, Blackstone, KKR, and Silver Lake Partners on significant and high-value transactions. Mandates include strategic acquisitions, leveraged buyouts, and exits in a range of industries, including healthcare, technology, telecommunications, and leisure. Marni Lerner heads up the practice, and is widely recognized as a leading player in the transactional market. Other names to note are Gary Horowitz, senior counsel Wilson NeelyAnthony Vernace, and Palo Alto-based partner Richard Capelouto. Also recommended is Elizabeth Cooper, who has recently been involved in major strategic transactions both on behalf of Blackstone and KKR. Cooper also took a leading role in BC Partners' strategic partnership with Blackstone. All lawyers named are in New York unless otherwise stated.

Practice head(s):

Marni Lerner

Key clients

AEA Investors

Alinda Capital Partners

Apax Partners

BC Partners

BlackRock LTPC

The Blackstone Group

Calera Capital

The Carlyle Group

Centerbridge Partners

Corsair Capital

CVC Capital Partners

EQT Partners

First Reserve

Global InfrastructurePartners

Hellman & Friedman

Kohlberg Kravis Roberts & Co.

KSL Capital Partners

Lexington Partners

Lindsay Goldberg

New Mountain Capital

Oaktree Capital Group

Palladium Equity Partners

Platinum Equity Capital Partners

Primavera Capital Group

Riverstone Holdings

Silver Lake Partners

Snow Phipps Group

Sterling Partners

Stonepeak Infrastructure Partners

Technology Crossover Ventures

True Wind Capital

Warburg Pincus

Work highlights

  • Represented Blackstone in its proposed $3bn acquisition of a majority stake in MagicLab.
  • Represented a consortium comprised of funds advised by Apax Partners, together with Canada Pension Plan Investment Board and the Public Sector Pension Investment Board in its sale of Acelity and its KCI subsidiaries worldwide to 3M for approximately $6.73bn.
  • Represented EQT VIII Fund and Canada Pension Plan Investment Board in their acquisition of a majority equity stake in Waystar from Bain Capital Private Equity, in a transaction which valued Waystar at $2.7bn.
  • Represented affiliates of Centerbridge Partners and Great Wolf Resorts in the sale of the latter to an affiliate of Blackstone Real Estate Partners IX. As part of the transaction, Blackstone and Centerbridge will form a new $2.9bn joint venture to own Great Wolf.
  • Represented KKR in its announced stock and asset purchase agreement under which KKR will acquire certain international operations from Campbell Soup Company. The transaction is valued at approximately $2.2bn.

Debevoise & Plimpton LLP

Debevoise & Plimpton LLP has advised many of the top names in the sector on complex and often novel transactions, with joint ventures and alternative forms of financing coming to the fore. The firm also recently hired Lorna BowenAndrew Ford, and Justin Storms from Linklaters LLP, expanding the team's stable of major funds clients. Among those standout clients is Elliot Management, one of several hedge funds entering the private equity market. Acting alongside practice head Kevin Schmidt the highly-rated Christopher Anthony advised TPG Growth on its investment into Big River Steel, while Paul Bird and Uri Herzberg represented CD&R and TRANZACT in the sale of the latter to Willis Towers for $1.3bn. Jennifer Chu is also highly recommended for her work with Blackstone, The Carlyle Group, and Kelso & Company. All partners mentioned are in New York.

Practice head(s):

Kevin Schmidt

Testimonials

Debevoise has an excellent M&A practice with a great depth of experience in the private equity area. They have a strong grip of the market and a real strategic insight.

Jeff Rosen is a tremendous asset on every aspect of a deal and offers truly exceptional strategic insight.

We use this team for management buyouts. Our main relationship partner has been Kevin Rinker. Kevin knows the market as well as anyone, he can manage a lean team, able to move very quickly on deals. He’s a very good manager and is able to be hands-on when he needs to be, but can put us in the hands of others. I trust him and that team to go up against pretty much anyone.

Key clients

The Blackstone Group

Canada Pension Plan Investment Board (CPPIB)

The Carlyle Group

Cerberus Capital Management

Clayton, Dubilier & Rice

Cornell Capital

Elliott Management

Kelso & Company

Morgan Stanley Private Equity

Providence Equity Partners

Temasek Holdings

TPG

Work highlights

  • Advising Clayton, Dubilier & Rice in its $3.8bn acquisition of Anixter International.
  • Advised funds managed by Capital Group Private Markets, as well as other selling shareholders, in the sale of Eaton Towers to American Tower.
  • Advising Clayton, Dubilier & Rice and Brand Industrial Services in connection with the sale of BrandSafway from CD&R Fund IX to Brookfield Business Partners and CD&R Fund X.
  • Advised OEConnection and its shareholders on the sale of a majority stake in OEC to Genstar Capital.
  • Advised CD&R and TRANZACT on the sale of TRANZACT to Willis Towers Watson.

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Paul, Weiss, Rifkind, Wharton & Garrison LLP has enjoyed an increased flow of mandates from large-cap funds alongside middle-market players and portfolio companies. Notable recent wins include work with Carlyle, Blackstone, and Brookfield, alongside an increase in mandates from existing clients Apollo and General Atlantic. The team is active in high-value transactions in several key industries, including retail, sports, healthcare, and media, with deals closed across multiple jurisdictions. Key partners include the  'extraordinarily thoughtfulMatthew Abbott and Taurie Zeitzer, who are key relationship partners for GA and Apollo respectively. Likewise, Brian ScrivaniJustin Rosenberg, and Sarah Stasny are highly rated on the more junior end of the partnership. Scrivani was promoted internally in early 2019, while Stasny joined from Kirkland & Ellis LLP in July of the same year. The 'technically excellentNeil Goldman is also recommended. All partners named are based in New York.

Testimonials

Matt Abbott is one of the best private equity and M&A lawyers of his generation — creative, responsive, extraordinarily thoughtful, commercial. Neil Goldman is technically excellent, hands-on, and is a solid negotiator. Ellen Ching never misses an issue and can work through the most complicated agreements with ease. Excellent tax support (Patrick Karsnitz and Linsday Parks), benefits advice (Larry Witdorchic), IP advice (Claudine Meredith Goujon), funds lawyers (Amran Hussein and Conrad van Loggerenberg), and a solid associate supporting cast — we feel like the only client when we clearly are not.

Key clients

3G Capital

Kohlberg & Co.

Apollo Global Management

KPS Capital Partners

CI Capital Partners

Oak Hill Capital Partners

General Atlantic

Roark Capital Group

KKR

Searchlight Capital Partners

Work highlights

  • Advised Apollo Global Management on their $2.7bn acquisition of Shutterfly.
  • Advised General Atlantic as a selling shareholder of Engility Holdings on its $2.5bn acquisition by Science Applications International.
  • Advised KPS Capital Partners on its $1.8bn acquisition of Howden.
  • Advising Brookfield on its acquisition of a 50% stake of Clayton, Dubilier & Rice’s ownership interest in BrandSafway, with an enterprise value of $6.7bn.
  • Advised Kohlberg & Company on its acquisition of three European packaging plants from Bemis Healthcare Packaging Europe.

Ropes & Gray LLP

Ropes & Gray LLP represents major funds such as Bain Capital, TPG, Blackstone, and Silver Lake, but also tallies a consistently high deal count in the upper middle market. In addition, the practice group regularly handles strategic investments and buyouts on behalf of smaller industry-specific funds, particularly in the healthcare sector. The firm's highly regarded healthcare and life sciences practice is a boon to the private equity team, with notable transactions in this sector including Bain's acquisition of US Renal Care, and Genstar Capital's acquisition of Advarra. The practice group is led across the London, Chicago, and New York offices, with the two stateside contacts being Neill Jakobe and David BlittnerWill Shields is a name to note in Boston, credited with maintaining the firm's long-term relationship with Bain. Of particular note over the past year, the New York office has expanded, challenging the firm's Boston HQ in terms of manpower, giving the firm a foothold in key Wall Street transactions. The firm's wider expansion strategy has seen eight internal partner promotions within the private equity team and the lateral hires of Carolyn Vardi from White & Case LLP and Scott Abramowitz from Kramer Levin Naftalis & Frankel LLPAlfred Rose remains active in the partnership after stepping down as practice co-chair, though David Chapin retired from the firm in 2020.

Practice head(s):

Neill Jakobe; David Blittner

Other key lawyers:

Alfred Rose

Key clients

Bain Capital

TPG Capital

TSG Consumer Products

The Blackstone Group

Silver Lake Partners

Apax Partners

Altamont Capital Partners

Advent International Corporation

Partners Group

New Mountain Capital

Audax Group

Kohlberg & Company

Welsh, Carson, Anderson & Stowe

Genstar Capital

HarbourVest Partners

Providence Equity Partners

Thomas H. Lee Partners

Avista Capital Parters

Harvest Partners

H.I.G. Capital

Berkshire Partners

Summit Partners

Charlesbank Capital Partners

Baring Private Equity Asia

Work highlights

  • Represented Baring Private Equity Asia and its portfolio company, Clarivate Analytics, in its $4.2bn add-on acquisition of Churchill Capital Corporation through a reverse merger.
  • Representing Bain Capital in its agreement to sell a majority equity stake in Waystar Health to EQT VIII Fund and Canada Pension Plan Investment Board, a transaction valued at $2.7bn that will see Bain Capital retain a minority stake in the business.
  • Represented TPG Capital in its acquisition of Entertainment Partners.
  • Represented long-standing client H.I.G. Capital in its strategic sale of Caraustar Industries for $1.8bn.
  • Represented Advent International in its acquisition of AccentCare.

Weil, Gotshal & Manges LLP

Weil, Gotshal & Manges LLP has notable capabilities in growth equity and SPAC-related work, working closely with the firm's capital markets and restructuring practices to provide a joined-up service to clients. The practice has a broad list of major clients, working with the likes of Blackstone, TPG, and CPPIB on a regular basis. Another notable client is Softbank's Vision Fund, which the team recently advised on the recapitalization of WeWork. The practice group is jointly led by Doug Warner in New York and Kevin Sullivan in Boston, with other key offices in Silicon Valley and worldwide, allowing the firm to act on major cross-border transactions. Also recommended are New York-based Christopher Machera, who works closely with Blackstone, and Ramona Nee in Boston, who is a key relationship contact for several of the firm's clients, including Providence, OMERS, and Advent.

Practice head(s):

Doug Warner; Kevin Sullivan

Other key lawyers:

Christopher Machera; Ramona Nee

Key clients

Advent International

American Securities

AMP Capital

Antin Infrastructure Partners

Aterian Investment Partners

Berkshire Partners

Blackstone

Centerbridge Partners

Cornell Capital

CPPIB

CVC Capital Partners

Genstar Capital

Goldman Sachs Merchant Banking Division

The Gores Group

Irving Place Capital

Kainos Capital

Lindsay Goldberg

OMERS Private Equity

Providence Equity Partners/Providence Strategic Growth Partners

PSP Investments

Softbank Group/Softbank Vision Fund

TCV

TPG and TPG Growth

Trive Capital

Work highlights

  • Advised The Blackstone Group on the acquisition of Concert Golf Partners.
  • Advised CPPIB, as a member of a Hellman & Friedman-led consortium that also includes Blackstone and GIC, on the consortium’s $11bn take-private of The Ultimate Software Group.
  • Represented TPG in the sale of United Family Healthcare to New Frontier Corporation.
  • Advised PSG and EverCommerce on the sale of a significant ownership stake in EverCommerce to Silver Lake.
  • Advised Providence Equity Partners on its acquisition of GlobalTranz Enterprises.

Willkie Farr & Gallagher LLP

With a consistent transactional output and a sponsor-focused approach, Willkie Farr & Gallagher LLP holds a considerable share of upper-middle market work, advising funds involved across a range of industries, including technology, healthcare, financial services, and industrials. The firm has also seen a significant growth in its share of large-cap transactions. The team has a solid bench of dedicated private equity partners in both its New York base and the emerging Houston and Palo Alto offices, which are a boon to the firm's work in energy and tech-related buyouts. The practice is jointly headed by Jeffrey Poss and Neil Townsend, both of whom have had busy years advising clients such as Aquiline, Genstar Capital, and FFL Partners. Morgan Elwyn has a productive relationship with Insight Partners in its tech investments, while Bruce Herzog is the key name in the Houston office. All partners are in New York unless otherwise stated.

Practice head(s):

Jeffrey Poss; Neil Townsend

Key clients

Aquiline Capital Partners

Calvert Street Capital Partners

The CapStreet Group

Centerbridge Partners

CIP Capital

Colony Capital

Court Square

Dock Square Capital

Dubin Clark & Co.

FFL Partners

Genstar Capital

Harvest Partners

Insight Partners

Kayne Anderson

Riverstone Holdings

The Sterling Group

Tenex Capital Management

Warburg Pincus

Work highlights

  • Advised Insight Venture Partners on its investment in PDI.
  • Represented Colony Capital in its $5.9bn agreement to sell Colony Industrial, its industrial real estate assets and affiliated industrial operating platform, to Blackstone.
  • Advising a group of Hudson’s Bay Company shareholders on an agreement with HBC to take the company private for an estimated $1.4bn.
  • Advised Genstar Capital on its acquisition of a majority stake in Cetera Financial Group.
  • Advised FFL Partners on the sale of Crisis Prevention Institute to Wendel for $910m.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton has had a very active year, largely thanks to its relationship with Warburg Pincus, which has provided a steady flow of deals ranging from standard buyouts to continuity fund investments and exits. The team also acts on strategic investments and portfolio company acquisitions, with the Carlyle Group being another prominent client. Practice head David Leinwand has led a number of the team's standout deals; he advised on Warburg's sale of a stake in Allied Universal to CDPQ, and also handled the recapitalization of CPP, a transaction which involved Warburg funds on both sides. Other key figures include Paul Shim and James LangstonKyle Harris made partner in 2019, though Paul Tiger left for Freshfields Bruckhaus Deringer LLP.

Practice head(s):

David Leinwand

Other key lawyers:

Paul Shim; James Langston

Key clients

Warburg Pincus

Allied Universal National Amusements (a Warburg Pincus portfolio company)

CityMD (a Warburg Pincus portfolio company)

Consolidated Precision Products (a Warburg Pincus portfolio company)

Duravant (a Warburg Pincus portfolio company)

ESL Investments

Temasek

The Carlyle Group

Work highlights

  • Advised Warburg Pincus and Allied Universal on the sale of an equity stake in the latter to CDPQ.
  • Advising National Amusements on the $30.5bn merger of portfolio companies Viacom and CBS.
  • Advising Tech Data on its $5.4bn sale to Apollo Global Management.
  • Represented ESL Investments in its $5.2bn acquisition of Sears in bankruptcy.
  • Advised Warburg Pincus on its acquisition of Pregis.

Davis Polk & Wardwell LLP

Davis Polk & Wardwell LLP has a market-leading reputation for complex corporate and M&A work; a reputation that also touches on private equity, where the firm counts major funds and portfolio companies among its clients. Major clients include TPG Capital and Warburg Pincus, with BDT Capital and Reverence Capital Partners being notable client wins in the past year, which demonstrate the firm's growth beyond the middle-market. The New York office is the main driving force behind the private equity practice. John Amorosi heads up the group and leads many of the firm's most high-profile transactions, which have recently included work for Goldman Sachs and Blackstone. Also recommended are Leonard Kreynin and Harold Bimbaum, who advised on Brookfield Business Partners' $13.2bn acquisition of Johnson Controls' Power Solutions business. Michael Davis and William Chudd are also key players in private equity transactions, representing clients in complex buyouts, restructuring, and exits.

Practice head(s):

John Amorosi

Key clients

Atairos Group

BDT Capital Partners

Bridgepoint Capital

Brookfield Business Partners

Cornell Capital

Crestview Partners

Goldman Sachs Merchant Banking Division I

Squared Capital

Lightyear Capital

Metalmark Capital

Reverence Capital Partners

Tailwind Capital

TPG Capital

Warburg Pincus

Work highlights

  • Advised Brookfield Business Partners on its $13.2bn acquisition of Johnson Controls’ Power Solutions business with institutional partners including Caisse de dépôt et placement du Québec.
  • Advised the Goldman Sachs Merchant Banking Division on its $1.1bn sale of Safe-Guard Products to funds affiliated with Stone Point Capital.
  • Advised TPG Capital on its acquisition of Convey Health Solutions, a specialized healthcare technology and services company, from New Mountain Capital.
  • Advising Warburg Pincus as a selling shareholder of SemGroup on its $5.1bn acquisition by Energy Transfer.
  • Advised Cornell Capital on the merger of its portfolio company, Corelle Brands, with Instant Brands.

Dechert LLP

Mark Thierfelder heads up the 'thoughtful and attentive' practice group at Dechert LLP, which has core strengths in middle-market funds work, but is developing a strong reputation for larger-cap work as well. Though middle-market work remains the focus, a recent example of the firm's trend toward large-cap work is its advice to GIC on the sale of Refinitiv to London Stock Exchange Group for an enterprise value of $27bn. The practice is particularly active in working with funds involved in the healthcare and life sciences industries, taking advantage of booms in these sectors to secure notable growth mandates, as well as life-cycle investments, buyouts, and exits. Key names to note are Geraldine Sinatra, a prolific transactional partner in Philadelphia, and the 'highly effectiveMarkus Bolsinger, who is rated for his work in securing new clients, as well as for acting on significant cross-border transactions. Bolsinger divides his time between New York and Germany. Also recommended is Sarah Kupferman, a standout associate in the team.

Practice head(s):

Mark Thierfelder

Testimonials

Dechert has been our most important and strategic legal adviser for our largest private equity transactions. Dechert provides thoughtful and balanced advice and acts as a true partner. They are more commercial, dependable, and responsive than other law firms we work with.

Mark Thierfelder and Jonathan Kim have been outstanding partners at Dechert.

Most issues and negotiations are gray. Judgement and communication are critical. I have found Henry Nassau’s judgement and communications to be stellar.

We have worked with Dechert for over a decade and they have become our go to firm. Their knowledge, expertise and client service have put them in a position to displace the other firms we previously worked with over the past 20 years.

The team we work with at Dechert is outstanding. Henry Nassau, Jeff Legath, John LaRocca, Jon Stott, Sarah Gelb, Abbi Cohen, David Jones, Josh Milgrim and many others have a collective knowledge and expertise, coupled with outstanding customer service that sets them apart from others we have worked with at competing law firms over the last 20 years. They have truly become our trusted advisors, and an integral part of our extended team and we greatly value their advice and guidance.

Very detailed analysis but with practical advice.

The Dechert team led by Eric Siegel is incredibly responsive, practical, and knowledgeable.

Thoughtful and attentive to detail. The team makes an effort to understand our business objectives and then applies that understanding to the legal analysis and discussion.

Markus Bolsinger stands out as a business-oriented advisor and highly effective manager of complex processes.

Deep knowledge and experience on key M&A issues including tax and employment matters.

Josh Milgrim  is the go to guy for any tax issue. He is GREAT at structuring transactions and has deep knowledge and foresight on tax related topics.

Jonathan Kim has the ability to summarize key M&A issues and provide various ideas around a successful resolution. Meticulous at his work.

Deep bench. Able to go head to head with high-powered law firms representing major PE Sponsors. Responsiveness and familiarity with the sensitivities of a sovereign foreign investor.

Excellent client service. Proactively gives us the feeling that we are in good hands and that they will be strong advocates for our positions. Great personal familiarity with team members and tendencies. Team is unafraid to come up with interesting solutions to problems and analyze costs/benefits of pursuing alternative routes. Makes it very easy for us to make decisions with confidence.

We have used Dechert on a number of transactions, I really trust them. One of my go-tos- they have been terrific on pharma transactions, but they have very good range. I love the combination of Mark Therfielder and Gareth Clark- it’s a very good combination of substance and fundamental legal points- getting the technical points correct. Incredible client service, they constantly stay in touch with me. Very good at managing relationships. Lean internally and able to compensate for that. Very much on top of where the booby traps are going to be on a transaction. As thorough as any lawyers I’ve ever worked with.

Key clients

GIC

Court Square Capital Partners

One Equity Partners

MSD Partners

Cerberus Capital Management

Further Global Capital Management

Graham Partners

Morgan Stanley Capital Partners

Sterling Investment Partners

Centre Partners

Bregal Partners

Quilvest

Work highlights

  • Represented GIC in connection with the sale of Refinitiv to London Stock Exchange Group for an enterprise value of $27bn in an all-stock transaction.
  • Advised Court Square Capital Partners and its portfolio company Rocket Software on the sale of Rocket Software to an affiliate of Bain Capital Private Equity for more than $2bn.
  • Acting for GIC (as part of an investor consortium led by Hellman & Friedman in partnership with GIC, Blackstone, Canada Pension Plan Investment Board and other investors, including JMI Equity) in relation to the $11bn take-private acquisition of Nasdaq-listed Ultimate Software.
  • Advising One Equity Partners on its proposed cross-border sale of PeroxyChem to Evonik Industries.
  • Represented National Seating & Mobility, a Court Square Capital Partners portfolio company, in its sale to affiliates of private equity firm Cinven Partners.

Fried, Frank, Harris, Shriver & Jacobson LLP

Fried, Frank, Harris, Shriver & Jacobson LLP is active in seed-and-stake investments, buyouts, and carve-outs, with major clients including Fortress Investments, Blackstone, and RedBird Capital Partners. The firm's M&A and real estate practices widen its capabilities, particularly in sector-specific transactions, with other industry focuses including pharmaceuticals and financial services. The practice is jointly led by the highly-rated Robert SchwenkelChristopher Ewan, who works regularly with Goldman Sachs, and Steven Steinman, who advised Yellow Wood Partners on the $585m carve out of Dr Scholl's from Bayer. Andrea Gede-Lange and Randi Lally continue to impress, while DC-based Brian Mangino is also noted for his work with GS and Permira. Large-cap mandates form a large part of the firm's work, recent examples of which include Blackstone's $2.9bn purchase of a stake in Great Wolf Resorts. The team also maintains a steady flow of upper middle-market transactions. A growth strategy in terms of both work and personnel saw three internal promotions in early 2019, with Amber Banks, seed-and-stake specialist Shant Manoukian, and Erica Jaffe all making partner. All lawyers mentioned are in New York unless otherwise stated.

Testimonials

 

Key clients

Permira Advisers

Blackstone

Goldman Sachs & Co.

Fortress Investment Group

RedBird Capital Partners

Yellow Wood Partners

AEA Investors

Onex Partners

OMERS Private Equity

Stella Point Capital

Work highlights

  • Acting for Blackstone in its acquisition of a 65% controlling interest in Great Wolf Resorts.
  • Represented Permira Advisers in the combination of its portfolio company WeddingWire with XO Group.
  • Represented Fortress Investment Group, a subsidiary of SoftBank Group Corp., in its investment into the definitive merger of Vivint Smart Home and Mosaic Acquisition Corporation.
  • Counsel to RedBird Capital Partners and Reverence Capital Partners in its acquisition of Vida Capital.
  • Counsel to Yellow Wood Partners in its definitive agreement to buy Dr. Scholl’s from Bayer.

Gibson, Dunn & Crutcher LLP

Gibson, Dunn & Crutcher LLP fields a geographically diverse team of private equity specialists, who work closely with dedicated funds active in the bulge bracket down to the middle-market, advising on the full range of transactions including leveraged buyouts, strategics, and life-cycle investments. A standout highlight was the firm's work for WndrCo in a $1bn investment into streaming service Quibi. The department is jointly headed by Sean Griffiths and Steven Shoemate in New York, and Ari Lanin in the Century City office, providing a solid base in commercial centers on both coasts. Also recommended is Richard Birns, who advised RedBird Capital Parters on the $3.47bn acquisition of the YES Network from Disney. Alongside technology and media, healthcare is another key focus area. The practice was strengthened in 2019 by the additions of William Sorabella to the New York office, and David Lee in California, arriving from Kirkland & Ellis LLP and Latham & Watkins LLP, respectively.

Other key lawyers:

Richard Birns

Key clients

L Catterton

Eurazeo

Littlejohn & Co

Aurora Capital Partners

Liberty Hall Capital Partners

Crestview Partners

WndrCo

Platinum Equity

Investcorp and PSP Investments

The Rise Fund

Work highlights

  • Representing Evergreen Coast Capital in the $5.7bn acquisition of athenahealth.
  • Advised Lupa Systems on the acquisition of a majority stake in Tribeca Enterprises.
  • Represented Investcorp in its acquisition of Health Plus Management.
  • Advising RedBird Capital Partners on the purchase by Yankee Global Enterprises, with strategic partners Sinclair Broadcast Group  and Amazon, of YES Network from The Walt Disney Company for $3.47bn.
  • Advising Platinum Equity on its $2.74bn acquisition of Cision.

Jones Day

Jones Day focuses on the middle-market, boasting a high deal count courtesy of prolific clients such as Riverside and Morgan Stanley. The practice works on a range of transactions, including early and late-cycle investments, portfolio company M&A, and exits, taking advantage of what has been a buyer's market in the lower-cap space. In addition to its active middle-market practice, the firm has also increased its share of work with high-profile firms, having represented KKR, Carlyle, and Blackstone in strategic industry investments on behalf of growth funds maintained by these clients. Andrew Levine and Michael Earley jointly head the practice from New York and Chicago respectively, while Cleveland-based partners Charles Hardin and Denise Carkhuff have had strong years working closely with Riverside. Chicago's Lisa Lathrop is noted for her work on full-cycle investments and with portfolio companies.

Practice head(s):

Andrew Levine; Michael Earley

Key clients

Arsenal Capital Partners

The Blackstone Group

The Carlyle Group

Cortec Group

EagleTree Capital (formerly, Wasserstein & Co.)

Irving Place Capital

Koch Equity Development

Morgan Stanley Capital Partners

One Equity Partners

The Riverside Company

Work highlights

  • Represented Irving Place Capital and its portfolio company, Ohio Transmission Corporation (OTC) in Irving Place Capital’s sale of OTC to Genstar Capital.
  • Advised Kohlberg, Kravis & Roberts & Co. on its investment in OneStream Software.
  • Advised EagleTree Capital on its sale of Paris Presents to Yellow Wood Partners.
  • Advised the Cortec Group on the sale of WU Holdco, the holding company for Weiman Products and Urnex Brands to The Carlyle Group and TA Associates.
  • Advised Arsenal Capital Partners on the $328m acquisition of Seal for Life Industries from Berry Global Group.

Morgan, Lewis & Bockius LLP

Morgan, Lewis & Bockius LLP benefits from a strong presence across the US, with the Orange County, Philadelphia, and New York offices all able to handle challenging work from the firm's major private equity clients, as well as co-operate on the most complex mandates. Jointly led by James LossBarbara Shander, and Steven Browne, the group handles standard acquisitions, strategic and distressed investments, divestments, and carveouts, for clients in the energy, technology, life sciences, healthcare, retail, and financial services. The firm has a particular strength in advising on management buyouts, where it acts for some of the largest active funds including Apollo Global Management, Ares Management, Arsenal Capital Partners, and Platinum Equity. A recent development for the firm has been an increase in specialized and targeted investment, as well as non-traditional financing techniques including private placements and SPACs. Kevin Schmelzer is a name to note from the Philadelphia office.

Other key lawyers:

Kevin Schmelzer

Key clients

Apollo Global Management

Ares Management

Arsenal Capital Partners

Platinum Equity

Freeman Spogli & Co.

Sun Capital Partners

StoneCalibre

Lovell Minnick Partners

Eureka Capital Partners

LLR Partners

Work highlights

  • Represented Apollo Global Management in its $1.1bn acquisition of Smart & Final Stores.
  • Represented Lovell Minnick Partners in its investment in oneZero Financial Systems.
  • Represented Platinum Equity in the $400m sale of the Embedded Power business of portfolio company Artesyn Embedded Technologies.
  • Represented New State Capital Partners in the acquisition of Mako Steel and Mako Structures.
  • Represented Lovell Minnick Partners in its acquisition of Billhighway.

Proskauer Rose LLP

With offices across key financial centers in the US and globally, Proskauer Rose LLP assists clients with leveraged buyouts, investments, and divestitures, working with funds active in a wide range of industries including chemicals, defense, and financial services. Clients include Blackstone and Ares Management, and alongside traditional funds, the practice works closely with alternative asset managers across the market, seeking to adapt to developments within the PE space. The practice also advises clients' portfolio companies on an ongoing basis from investment to exit. Jeffrey Horwitz is a key contact in the New York office. Michael WoronoffMonica ShillingJonathan Benloulou, and Chris Wu left the firm for Kirkland & Ellis LLP.

Practice head(s):

Jeff Hortwiz

Work highlights

  • Represented Lion Capital in connection with its joint venture with Gordon Ramsey to expand his restaurant empire into the US.
  • Represented Ascena Retail Group in its entry into a definitive agreement to sell a majority interest in its subsidiary, Maurices Incorporated, to an affiliate of OpCapita in a deal valued at approximately $300m.
  • Represented Ares Management Corporation in its acquisition of acquired CoolSys.
  • Represented Freeman Spogli in its acquisition, alongside LightBay Capital, of FASTSIGNS International.
  • Represented Votorantim in its sale of US Zinc to Aterian Investment Partners, in an international carve-out transaction.

White & Case LLP

White & Case LLP has enjoyed a strong trend of growth in the private equity market, with the Chicago office continuing to expand its market share under the guidance of Gary Silverman. Indeed, the Chicago office has increased its numbers significantly since its opening in 2018, and has established strong relationships with Chicago-based private equity funds such as Entrepeneurial Equity Partners and Wind Point Partners. Other key figures in the team include global head of M&A John Reiss and global private equity co-head Oliver Brahmst, both in New York. The practice group utilizes its US-wide and international reach to work on complex transactions on behalf of major funds, most notably Brookfield, CVC, and IFM, demonstrating its development in recent years. Bramhst's work for Brookfield on its $8.4bn acquisition of Genesee & Wyoming is a key example of the firm's geographic reach, covering deal components in Australia, Germany, and Canada. Industry focuses include technology, healthcare and pharmaceuticals, and real estate, which is a growing specialism for the Chicago team especially. Other parts of the offering include a dedicated portfolio support team, advising portfolio companies on their relationships with sponsors, and a stand-alone financing practice, which informs the private equity team's ability to fund and structure deals in a versatile and effective fashion.

Practice head(s):

John Reiss; Oliver Brahmst

Other key lawyers:

Gary Silverman

Testimonials

Deep bench with excellent knowledge and specialization. Can bring a tremendous amount of horsepower to a file. For a large firm, still able to provide a personal touch and give practical, solutions-oriented legal advice.

Oliver Brahmst is one of my most trusted advisers. He has an incredible ability to cut through complex issues, simplifying them and coming up with effective solutions. Oliver is not afraid to tell us when he thinks we’re wrong, which is so valuable as a client. His advice is to the point and always spot-on.

Key clients

Saudi Aramco

IFM Investors

Brookfield Asset Management

Roark Capital Group

CVC Capital Partners

Antin Infrastructure Partners

I Squared Capital

Harvest Partners

Dominus Capital

Certares Management

Investindustrial

Ara Partners Group

Entrepreneurial Equity Partners

Wind Point Partners

Macquarie Infrastructure Partners

QIA

Work highlights

  • Represented IFM Investors in its $10.3bn acquisition of Buckeye Partners.
  • Advised a consortium composed of Brookfield Infrastructure Partners and its institutional partners on the $8.4bn acquisition of Genesee & Wyoming.
  • Represented Brookfield Asset Management in its C$4.3bn acquisition of Enercare.
  • Represented Roark Capital Group and Inspire Brands in its $2.3bn acquisition of Sonic Corp.
  • Represented Brookfield Asset Management as 50% equity investor with Digital Realty Trust in its $1.8bn acquisition of Ascenty.

DLA Piper LLP (US)

DLA Piper LLP (US) concentrates its efforts on the middle-market, maintaining a consistently high deal count for funds engaged in buyouts and investments focused particularly on healthcare and technology. The private equity practice is integrated closely with the firm's healthcare and franchising teams and also works seamlessly across the firm's expansive global platform. As such, the team has a particular strength in cross-border transactions. The practice is led by Joseph Alexander in Miami and Joseph Silver in Atlanta. Notable clients include targeted industry funds such as Accel-KKR, RLJ Capital, and Summit Capital, with a recent standout highlight being Accel-KKR's acquisition of daVIZta.

Practice head(s):

Joseph Alexander; Joseph Silver

Other key lawyers:

Rob Davis; Eric Grossman

Key clients

ABRY Partners

Accel-KKR

Baird Capital Partners

Celero Commerce / LLR Partners

Council Capital

Columbia Capital

CustomInk

ECP-PF: CT Operations

ICV Partners

LiveAuctioneers

MSouth Equity Partners

RLJ Equity Partners

Sole Source Capital

Stellex Capital Management

Summit Capital Group

Tally Energy Services

Work highlights

  • Represented Accel-KKR in its acquisition of daVIZta.
  • Represented Hopebridge in its acquisition by Arsenal Capital.
  • Represented LLR Partners in its formation of Celero Commerce and strategic acquisition of United Merchant Services.
  • Represented Council Capital in its acquisition of Advanced Care Partners.
  • Represented Columbia Capital in its acquisition of EX2 Technology.

Goodwin

With key offices in New York, Boston, and Santa Monica, Goodwin focuses on tech and innovation-industry investors, advising mid-market clients on strategic investments, buyouts, and exits. The firm has strengths both in early and late-stage investments, and is rated for its representation of clients in the healthcare, technology, and software industries, both on the fund and target side. The practice is jointly led by Andrew Weidhaas in the Santa Monica office, alongside the Boston-based duo of Michael Kendall and John LeClaire. As well as expanding the firm's reach to Silicon Valley with the Santa Monica office, the private equity team has seen a number of lateral hires in the last year, welcoming Joshua Soszynski and Matthew Mauney from Kirkland & Ellis LLPTimothy Clark from Sidley Austin LLPLauren King from Gibson, Dunn & Crutcher LLP, and Kristopher Ring from Katten.

Testimonials

Goodwin provides outstanding service by combining excellent legal acumen, efficient execution capabilities and recognition of commercial goals and realities. They are more than lawyers, they are true business partners.

Josh Klatzkin and Brian McPeake are the driving forces behind the partnership – they bring together the right resources and capabilities to execute and deliver results.

Key clients

TA Associates Management

Webster Equity Partners

Primus Capital

Bregal Sagemount

Behrman Capital

Pamplona Capital Management

JMI Equity

Arlington Capital Partners

Fresenius Medical Care

NorthStar Financial Services Group

Work highlights

  • Represented Brammer Bio Holding Company, an Ampersand Capital Partners portfolio company, in its $1.7bn sale to Thermo Fisher Scientific.
  • Represented WiTricity Corporation in its acquisition of assets owned by Qualcomm Incorporated and Qualcomm Technologies.
  • Advised TA Associates on its acquisition of DigiCert alongside Clearlake Capital Group.
  • Advised DiscoverOrg, a portfolio company of TA Associates, The Carlyle Group, and 22C Capital, on the acquisition of Zoom Information.
  • Represented T.A. Associates Management in acquiring Wealth Enhancement Group, an independent wealth management firm that oversees $11.8bn in client assets.

Paul Hastings LLP

Paul Hastings LLP represents funds, investment banks, and sponsors in life-cycle private equity investments, covering acquisitions, portfolio company advice, divestments and exits. Clients are active in the manufacturing and industrials, life sciences, healthcare, software and technology sectors. In addition, the private equity team is supported by the firm's tax structuring and debt financing practices. Brian Richards and Brandon Howald jointly head the practice from Chicago and Orange County, respectively, with other key individuals spread across offices in California, New York, and Washington DC, and close co-operation with the firm's London office. The nationwide platform was bolstered by the recent hires of Alex Kaufman from Morrison & Foerster LLP in Palo Alto and Adam Brown from Hogan Lovells US LLP in DC.

Practice head(s):

Brian Richards; Brandon Howald

Key clients

Symphony Technology Group

Francisco Partners Management

Cortec Group

GI Partners

H.I.G. Capital

Beecken Petty O’Keefe & Company

Vector Capital Group

Pfingsten Partners

May River Capital

DW Healthcare Partners

RedBird Capital Partners

Aurora Capital Group

Wynnchurch Capital

RSE Ventures

Deerfield Management

Insight Venture Partners

Sumeru Equity Partners

OnyxPoint Global Management

Madison Capital

Partners Corporation

Chicago Pacific Founders

Work highlights

  • Advising Cortec Group and the other owners of Barcodes on the sale of Barcodes to Odyssey Investment Partners.
  • Represented BPOC in all aspects of its sale of 49.9% of the equity interests in Zenith Equity to an affiliate of Five Arrows Capital Partners.
  • Represented Aurora Resurgence in the sale of Cardiac Sciences Corporation to Zoll Medical Corporation.
  • Represented May River Capital and other owners in connection with the sale of GCM.
  • Represented an affiliate of Beecken Petty O’Keefe & Company on its acquisition of Health E-Commerce.

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden, Arps, Slate, Meagher & Flom LLP represents private equity firms and sponsors in investments, acquisitions, and exits, and also routinely handles portfolio company investments and M&A transactions. Jointly led by Kenneth Wolff and Stephanie Teicher in the New York office, the practice is active both across the US and internationally. Notable clients include Blackstone, Permira, and Silver Lake, with recent strong showings in the chemicals, healthcare, and hospitality industries.

Practice head(s):

Kenneth Wolff; Stephanie Teiche

Work highlights

  • Representing the Blackstone Group and Lendmark Financial Services in the sale of Lendmark to investment funds affiliated with Lightyear Capital and the Ontario Teachers’ Pension Plan.
  • Advised Permira Funds on its $2.4bn acquisition of Cambrex Corporation.
  • Advised Silver Lake on its acquisition of a majority stake in ServiceMax from GE Digital.
  • Represented Stone Point Capital and its portfolio company Bankruptcy Management Solutions in the acquisition of Credit Infonet Holdings.
  • Represented StandardAero and its parent Veritas Capital in its acquisition by The Carlyle Group from Veritas Capital Fund Management.

Sullivan & Cromwell LLP

With a presence in key commercial centers across the US, Europe, and Asia, Sullivan & Cromwell LLP has acted for major private equity clients in large, often cross-border buyouts, strategic investments, and exits. The global private equity team is headed in the US by Brian Hamilton in New York and Rita-Anne O’Neill in Los Angeles.

Vinson & Elkins LLP

Vinson & Elkins LLP has a 'great pulse on the industry' in its traditional wheelhouse of energy transactions, expanding outside of its core strengths in oil and gas upstream and midstream work by increasing its share of work with renewables-focused funds and energy tech clients. The practice has also diversified into industrials, chemicals, technology, and real estate, assisted by existing relationships with major funds including TPG, Apollo, and Blackstone Infrastructure. In addition to the firm's Texas base, the New York office has also assisted the expansion of the practice into a more diverse collection of industries, with practice co-head James Fox being the name to note in New York. Houston-based partners Matthew StrockDavid Oelman, and the prolific Keith Fullenweider are the other practice co-heads. On the more junior end of the partnership, Lande Spottswood has been praised for her work on complex strategic and conflicted transactions.

Other key lawyers:

Lande Spottswood

Testimonials

In the private equity space, there isn’t a better, more capable team in town; they have a great pulse on the industry and the space and are able to create user-friendly, understandable solutions to problems. They are great to work with.

Matt Strock is always great to work with, but two junior partners, James Garrett and Brittany Sakowitz have really stepped up and come into their own. They are knowledgeable, responsive and great to work with. Robert Hughes is a senior associate who operates like a partner. 

Key clients

American Insulated Glass

Apollo Global Management

Blackstone Group

Clearlake Capital Group

Clovis Point Capital

Coolsys

EagleClaw Midstream

EnCap Investments

EQT Infrastructure

Kibo Software

Morgan Stanley Infrastructure Partners

Oryx Midstream Services II

PayLease

Quantum Energy Partners

Riverstone Holdings

SCF Partners

TPG Capital Management

Vida Capital

Vista Equity Partners

White Deer Management

Work highlights

  • Advised TPG Capital on the $2bn merger agreement between Univar and Nexeo Solutions.
  • Advised Blackstone Infrastructure Partners on its $3.3bn acquisition of a controlling interest in Tallgrass Energy.
  • Advised Apollo Global Management on the acquisition of $1bn of equity investments from GE Capital Partners.
  • Advised Morgan Stanley Infrastructure Partners on the $1bn sale of a 60% stake in Eureka Midstream Holdings and a 100% stake in Hornet Midstream Holdings to EQM Midstream Partners.
  • Advised EQT Infrastructure on the sale of Tampnet AS to 3i Infrastructure.

Arnold & Porter

Arnold & Porter focuses primarily on middle-market transactions, representing clients both on the buy and sell-side. The practice works on a variety of transaction types, including public and private buyouts, asset acquisitions, go-privates, exits, and early-stage venture capital investments. More complex work includes distressed acquisitions and continuity advice to newly-public portfolio companies. The practice is jointly headed by New York-based partner Stephen Koval, alongside Andrew Varner and Kevin Lavin in the Washington DC office. The team's wider capabilities support the private equity practice, with partners able to provide regulatory and tax-related advice on transactions, as well as act in difficult cross-border deals thanks to the geographic spread of the practice.

Key clients

ACAS

American Securities

Castle Harlan

DC Capital Partners

Emigrant Capital

Endeavor Capital

EQT Partners

Halifax Capital Partners

Prospect Hill Growth Partners

Periphas Capital

NexPhase Capital

Onex Corporation

RLJ Equity Partners

Verus Investment Partners

Work highlights

  • Advised Castle Harlan on its joint acquisition of Sunless with Branford Castle Partners.
  • Represented BRX Transportation Holdings in its acquisition of railroad holding company Pioneer Railcorp.
  • Advised DC Capital Partners on its sale of QRC Technologies to digital solutions provider Parsons Corporation.
  • Advised DC Capital Partners on its acquisition of Tresys Technology Holdings.
  • Advised Verus Investment Partners on its sale of VanDeMark Chemical to Comvest Investment Partners.

Choate, Hall & Stewart

Boston-based Choate, Hall & Stewart specializes in representing regional and national clients in mid-market transactions, including in several cross-border deals over the past year. Industry focuses include tech, telecoms and media, healthcare, fintech, and manufacturing, with targeted vertical acquisitions being a particular strength for the firm. The practice is jointly led by T.J. Murphy and Lee Feldman, two highly regarded lawyers within the Boston market and beyond, with Feldman noted as a specialist in dental industry transactions. A key example of the firm's reach despite its single-office model is Stephen Meredith's representation of Great Hill Partners in a definitive cross-border transaction agreement to sell its controlling interest in Ascenty to Digital Realty for an estimated $1.8bn, a transaction with Brazilian and Chilean elements. The team has been further strengthened by the arrival of tax advisory specialist Olivier Léger, moving the practice towards a more full service offering and increasing its ability to act on complex mandates.

Practice head(s):

T.J. Murphy; Lee Feldman

Other key lawyers:

Stephen Meredith

Key clients

BV Investment Partners

Century Equity Partners

Great Hill Partners

Tower Arch Capital

Mainsail Partners

Riverside Partners

Silversmith Capital Partners

Spectrum Equity

Summit Partners

Turn/River Capital

Work highlights

  • Represented Great Hill Partners in its definitive cross-border agreement to sell its controlling interest in portfolio company Ascenty to Digital Realty.
  • Represented Syntax Systems in the acquisition of EmeraldCube Solutions and Freudenberg IT.
  • Represented Summit Partners and its portfolio company Club Champion in the sale of the latter to Levine Leichtman Capital Partners.
  • Represented Spectrum Equity in its sale of Ethoca to Mastercard.
  • Represented Riverside Partners in its majority investment in 3Play Media.

Hogan Lovells US LLP

North Virginia-based partner Robert Welp is the key figure in Hogan Lovells US LLP's private equity practice, which advises funds and portfolio companies on worldwide transactions across regulated industries, including energy, consumer goods, government services, and healthcare. The practice has a particular strength in deal structuring and financing and is supported by an enviable international office network, allowing it to act on complex transactions with multi-jurisdictional elements.

King & Spalding LLP

King & Spalding LLP's private equity practice is led out of its New York and Atlanta offices by Jonathan Melmed and Rahul Patel, respectively. The firm generally works on middle-market transactions, with prominent clients including Roark Capital, HIG, and Lindsay Goldberg. The 'prompt, thoughtful' practice has several industry specialisms, including healthcare, life sciences, and particularly energy, which is a key focus for the US  team as a whole. The firm's international reach allows the geographically diverse practice to act in a range of complex transactions, including several major energy pipeline and transmission deals originating in Canada. These are primarily led from the New York office by Melmed, demonstrating the practice's capabilities regardless of geographical location. As part of a concerted expansion strategy, the practice group took on four partners from Morrison & Foerster LLP in 2019: Tom KnoxLarry YanowitchCharles Katz, and Jeremy Schropp.

Practice head(s):

Jonathan Melmed; Rahul Patel

Other key lawyers:

Ray Baltz

Testimonials

Prompt, thoughtful, and thinking ahead.’

Spencer Stockdale has been the lead partner on a day to day basis. He is always quick and efficient with his time and ours. There is very little wasted time, and they are reliable on deliverables. Ray Baltz is the relationship manager (effectively) and does a great job of involving himself as needed and can see around corners in terms of needs.

Efficient, knowledgeable, ability to get things done, to overcome, on time and budget- a true pleasure to work with!

Justin King, Will Jordan, Spencer Johnson and team are some of the absolute best corporate and M&A lawyers I have had the pleasure to work with over a 30+ year career on Wall Street & PE.‘

They are, without doubt, one of the most commercial and cost-effective teams I’ve encountered. Have the horsepower to deal with the most complex of issues and files but the run lean with a deep bench to draw on. Fantastic in negotiations and strategy and have a great sense of the client’s needs and deal dynamics.

Ray Baltz is one of my most trusted advisers, and is as good a strategist and negotiator as I’ve seen. His legal advice always appreciates the commercial context. His leadership of his young team is apparent and appropriate in terms of where he engages versus letting his people do their job (which they do exceedingly well). Has a fantastic temperament about him as well – he is as good in friendly discussions with partners as he is breathing fire (only when needed).

Key clients

Arcapita Group

Atlas Holdings

Axium Infrastructure

Brookfield Infrastructure Group

D.E. Shaw

Macquarie Capital

H.I.G. Capital

InstarAGF Asset Management

Pinnacle Asset Management

Starwood Energy Group

TPG Sixth Street Partners

Work highlights

  • Represented AdaptHealth Holdings in the acquisition of DFB Acquisitions for an estimated $800m.
  • Represented an affiliate of InstarAGF Asset Management in its agreement to purchase a package of domestic pipeline and terminal assets for $450m.
  • Represented Trive Capital in the sale of one of its portfolio companies, Precise Packaging, to PLZ Aeroscience Corporation, an affiliate of Pritzker Private Capital.
  • Represented InstarAGF Asset Management in relation to a definitive agreement to acquire on 100% of the equity interests in the entities comprising Oilfield Water Logistics on a LBO basis from an affiliate of NGP Energy Capital Management.
  • Advised Cogentrix, a portfolio company of The Carlyle Group, on the sale of six natural gas power plants located in California to a portfolio company of the Avenue Capital Group.

Kramer Levin Naftalis & Frankel LLP

Kramer Levin Naftalis & Frankel LLP represents clients in buyouts, regulatory compliance matters, and financing transactions, including private placements. The firm regularly advises Stone Point Capital in its various transactions, assisting the fund both with strategic acquisitions and investments. The practice's primary focus is the middle-market, where it handles transactions in several industries including financial services, education, and insurance. New York-based corporate co-chairs Ernest Wechsler and James Moriarty are key contacts.

Practice head(s):

Ernest Wechsler; James Moriarty

Key clients

Stone Point Capital

Focus Financial Partners

Quad Partners

Atlantic Street Capital

NXT Capital

Oasis Outsourcing

Medley Capital Corp.

Sentinel Capital Partners

Lee Equity Partners

Education Growth Partners

Work highlights

  • Represented Stone Point Capital in the $340m acquisition of the Rialto Investment and Asset Management business from Lennar Corp.
  • Represented Focus Financial Partners in its $235m acquisition of Loring Ward Holdings.
  • Represented Quad Partners in its sale of Rubicon to Faria Education Group.
  • Represented Atlantic Street Capital in its acquisition of Sunrise Transportation.
  • Advised NXT Capital on its sale to Orix Corporation USA.

McDermott Will & Emery LLP

McDermott Will & Emery LLP is very active in the middle market, representing investors and managers in lifecycle PE matters, with a particular strength in advice to family offices on direct investments. The 'cutting edge' practice also works regularly with portfolio companies on strategic acquisitions and investments. Industry focuses include energy, manufacturing, chemicals, healthcare and food and drink. Key offices are located in Chicago, Miami, and Washington DC, allowing a geographically diverse list of clients, with several cross-border mandates. The practice is jointly headed by Chicago-based Andrew McCune and Harris Siskind in Miami, both dedicated private equity lawyers. Brooks Gruemmer in Chicago and Frederic Levenson in Miami are also highly rated.

Practice head(s):

Andrew McCune; Harris Siskind

Testimonials

We are incredibly happy with our service team. In our opinion McDermott is the only firm we would call when working on a private equity transaction, especially within the healthcare space. The sheer volume of deals they complete on an annual basis is staggering, and they continually bring that diverse deal experience to every new engagement. They provide exceptional work on often incredibly expedited deadlines. They can address disparate buyer and seller deal objectives without ever compromising or jeopardizing their client’s ultimate goals. Where many other firms run into roadblocks, I always get the sense that McDermott has either seen the issue before or has a viable solution that is on the cutting edge.’

Alex Clavero  is our main deal counsel. Alex Ruiz in San Francisco is our Tax counsel. Alex Clavero is the most responsive attorney I have encountered. He typically responds to calls or emails within five minutes, even if he cannot address our issues or questions immediately. He makes himself available at all times and, even though I know he has a very robust and demanding practice, always makes us a top priority. He understands our overall deal objectives immediately and is quick to offer candid, thorough advice. He always has a pulse on the deal dynamics and knows what issues matter and which do not. He has negotiated incredibly complex deals for us and has a command for translating difficult legal issues into commercial terms. Sarah Kitchell in Boston is a key asset to any deal team. She is up to date on all compliance issues and can implement business objectives within complex legal frameworks. Finally, Alex Ruiz is an outstanding tax lawyer that understands the healthcare services space perfectly. His expansive expertise allows him to address variable tax structuring issues on the fly.

Key clients

H.I.G. Capital

Gemspring Capital

Industrial Opportunity Partners

Comvest Partners

Wellspring Capital Management and Help at Home

General Atlantic

WindRose Health Investors and Medical Knowledge Group

LaSalle Capital

Great Point Partners

Peak Rock Capital

Sterling Partners

Martis Capital Management

CenterGate Capital

Boyne Capital

Credit Suisse (Strategic Transactions Group)

Rhône Group

Blue Sea Capital

AUA Private Equity Partners

Westshore Capital Partners

Calera Capital Partners

Work highlights

  • Represented H.I.G in the acquisition of Riveron Consulting.
  • Represented Gemspring Capital in its acquisition of Valant Medical Solutions.
  • Represented Comvest Partners and its platform company Lasko Products in its add-on acquisition of Intertex.
  • Represented Wellspring Capital Management in its acquisition of Lucky Strike Entertainment.
  • Advised LaSalle Capital and portfolio company Eclipse Advantage on the acquisition of OnTime Staffing.  

McGuireWoods LLP

McGuireWoods LLP places a strong emphasis on its deal volume, recording a significant number of transactions in the middle market, which is its core focus. The team is especially strong in independent sponsor work and healthcare work, where a regular client is Ridgemont Equity Partners, a North Carolina-based fund focused on healthcare acquisitions. Geoffrey Cockrell heads up the team in the Chicago office, with the 'practicalJon Finger in Dallas and Thomas Zahn in Pittsburgh also being key names to note. The team also made two lateral hires in 2019: Colin Bumby joined the New York office from Latham & Watkins LLP and Thomas DeSplinter joined in Chicago from Winston & Strawn LLP.

Practice head(s):

Geoffrey Cockrell

Other key lawyers:

Thomas Zahn; Jon Finger

Testimonials

Jon Finger provides outstanding practical business advice in addition to sound legal advice.

Key clients

Sheridan Capital Partners

Falfurrias Capital Partners

Revelstoke Capital Partners

Acacia Partners

LLR Partners

Ridgemont Equity Partners

WJ Partners

Chicago Pacific Founders Fund

Women’s Health USA

Silver Oak Services Partners

Summit Park

Intervale Capital

Tiger Peak Capital

CEI Vision

Work highlights

  • Represented WJ Partners in selling its interest in Mobile Communications America to Sentinel Capital Partners.
  • Represented Ridgemont Equity Partners in its acquisition of the Speech Pathology Group, based in San Francisco.
  • Advised Falfurrias Capital Partners on several transactions, including an investment in Global Plasma Solutions.
  • Represented LLR Partners and portfolio company LEARN Behavioral in the sale of a majority stake in the latter to Gryphon Investors.
  • Represented Revelstoke Capital Partners in its acquisition of Beacon Orthopaedics & Sports Medicine.

Morrison & Foerster LLP

Morrison & Foerster LLP advises funds on lifecycle investments, from strategic investments, to full leveraged buyouts, to exits, as well as advising portfolio companies. The firm's international reach allows it to represent funds involved in multiple industries, with clients ranging from established industry funds to newer private equity teams. Key partners in the team include Dario Avram, Patrick Huard, and Eric McCrath in San Francisco.

Reed Smith LLP

Reed Smith LLP is active in upper middle-market transactions, representing funds engaged in investments in several industries including healthcare, financial services, technology, and consumer products. The practice is geographically broad, with offices across key US commercial centres alongside an international presence. The team is jointly led by Mark Pedretti in New York, and Seth Hemming and Bradley Schmarak, both in the Chicago office.

Winston & Strawn LLP

Winston & Strawn LLP represents several major funds including Ares Management, Atlas Holdings, and Century Park Capital Partners in buyouts, strategic investments, and exits. The practice group also advises portfolio companies on their transactions, particularly divestments and transfer to rival funds. The firm's international reach and offices across the US allows it to act on a wide range of complex, often multi-jurisdictional matters, while its broader expertise in financing and tax forms part of a comprehensive offering to private equity clients in all aspects of their transactions. New York-based partners Dominick DeChiara and Bradley Vaiana lead the practice alongside 'towering figureEva Davis in Los Angeles. Davis advised VMG Partners and portfolio company Sun Bum Holdings on the sale of the latter to S.C. Johnson & Sons, an example of the firm's multi-level representation of both funds and their holdings, as well as demonstrating the team's capabilities in private-to-private transactions alongside go-privates and exits.

Practice head(s):

Dom DeChiara; Eva Davis; Brad Vaiana

Testimonials

In a competitive environment, speed has been an important tool in winning deals for us and the Winston team has supported the most aggressive timelines without flinching. They have ensured quality of their work while meeting these timelines.

Eva Davis is the towering figure on the team and brings a great blend of practical business judgement and legal prudence. She is also a strong negotiator and effective team leader.

Key clients

Eos Partners

Frontenac Company

GenNx360 Capital Partners

Kainos Capital

Narrow Gauge Capital

NextGen Growth Partners

Pacific Avenue Capital Partners

Revelstoke Capital Partners

Shore Capital Partners

Water Street Healthcare Partners

Work highlights

  • Represented VMG Partners, Sun Bum Holdings and Sun Bum’s founders in the negotiation and execution of an agreement for the sale of all of the outstanding equity interests in Sun Bum Holding.
  • Represented Century Park Capital Partners in connection with a majority recapitalization of MCCi.
  • Represented Diversis Capital in connection with its acquisition of a controlling stake in Tempo.
  • Represented Mission Critical Electronics, a portfolio company of Windjammer Capital Investors, in connection with the acquisition of Xantrex Technology.
  • Represented Winona Capital and its affiliates in connection with the sale of its portfolio company LK International to The Acushnet Company.