Overview
Skadden advises private equity sponsors and their investment funds and portfolio companies at all stages of the investment cycle, including fund formation, management incentive plans, financings and refinancings, bolt-on investments, management change, recaps, and corporate restructurings and exits, such as IPOs. Skadden also supports portfolio companies on legal issues that typically arise under private equity ownership and leveraged structures, including issues relating to real estate, intellectual property, information technology, employment, litigation, compliance and finance.
Skadden was named Private Equity Team of the Year at the IFLR Americas Awards 2023 and listed in the top tier for leveraged buyouts and private equity law by Best Lawyers Best Law Firms. We also were named among Law360’s 2021 Private Equity Groups of the Year. Our attorneys repeatedly have been listed as Leading Lawyers for private equity by Chambers Global, Chambers USA, Chambers Europe and Chambers UK.
For many years, Skadden’s private equity clients have benefited from our experience in strategic and financial sponsor-led M&A, including with related antitrust, tax, restructuring, capital markets, employment and regulatory issues. Our global practice represents private equity sponsors and other transaction participants in all of our major offices in the Americas, Asia Pacific and Europe. We also have advised numerous target companies, boards of directors and special committees in leveraged buyout transactions.
Our banking and capital markets lawyers advise private equity sponsors and portfolio companies worldwide on all types of financings, including integrated bank and bond financings, bridge financings and refinancings. Our attorneys are located in major financial centers on five continents and offer our clients in North America, Asia, Australia, Europe and South America with an in-depth understanding of the global markets. Our perspective on leveraged financing structures is enhanced by our extensive experience representing lenders and underwriters of all types, including bank and nonbank lenders, and providing or arranging bank and bond financing in private equity transactions.
Our finance-related capabilities are enhanced by our leading corporate restructuring practice, which has extensive experience in the special issues private equity sponsors and their portfolio companies face in workouts, bankruptcies and similar situations.
With more than two decades of in-depth experience representing the sponsors and investors in private equity funds, Skadden provides advice on the formation and ongoing operations of funds and the companies organized to sponsor and manage them. We have structured numerous U.S. and offshore private equity funds and funds of funds (including merchant banking, mezzanine and venture capital funds) involving a variety of structures and jurisdictions.
Our law firm works extensively on every category of private equity funds, including hedge funds, leveraged buyout or merchant banking funds, venture capital funds, real estate funds, including REITs, and hybrid funds that meld attributes usually linked either to traditional venture capital or buyout funds or to hedge funds.
Our private equity lawyers have advised on matters across a wide variety of industry sectors, including:
- Aerospace and Defense
- Agriculture
- Automotive/Transportation and Infrastructure
- Construction and Engineering
- Consulting and Professional Services
- Consumer Goods and Services
- Energy/Oil & Gas/Utilities
- Financial Services
- Fintech
- Food, Beverage and Tobacco
- Health Care and Life Sciences
- Industrial Machinery
- Insurance and Reinsurance
- Internet Services
- Materials
- Media, Entertainment and Telecom
- Metals and Mining
- Office Services and Supplies
- Real Estate
- Software and Technology
Among others, we have represented:
- Apax Partners
- Apollo Advisors
- ArcLight Capital Partners
- Ardian
- Bain Capital
- Black Diamond Capital Management
- The Blackstone Group
- Calera Partners
- The Carlyle Group
- Castle Harlan
- Clayton, Dubilier & Rice
- Colony Capital
- Doughty Hanson & Co.
- Fortress Investment Group
- Fox Paine & Company
- Further Global Capital Management
- Halder Beteiligungsberatung
- HgCapital
- JLL Partners
- Kelso & Company
- Morgan Stanley Private Equity
- MTS Health Investors
- NorWest Equity Partners
- Oaktree Capital Management
- OceanSound Partners
- OMERS
- Pacific Equity Partners
- Pamplona Capital Management
- Permira
- Pine Brook Partners
- PSP Investments
- Quadriga Capital
- Resolution Capital
- Sculptor (formerly Och-Ziff Capital Management)
- Silver Lake Partners
- Silver Point Capital
- Stone Point Capital
- TA Associates
- Thomas H. Lee Company
- TPG
- Trimaran Capital Partners
- York Capital
- Veritas Capital
- Vulcan Inc.
- Wendel
- WL Ross & Co.
Experience
Aerospace and Defense
- JLL Partners in its acquisition of Point Blank Enterprises, Inc. from Sun Capital Partners, Inc.
- Norwest Equity Partners in its investment in West Star Aviation, Inc.
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Veritas Capital in:
- its $2.1 billion acquisition of Standard Aero Holdings, Inc. (Canada), a provider of aircraft maintenance services, from Dubai Aerospace Enterprise (DAE) Ltd. (United Arab Emirates). Skadden also represented Veritas Capital in connection with the related financing, which included a $485 million Rule 144A/Regulation S high-yield offering of 10% senior notes due 2023 by DAE Aviation Holdings, Inc.; and
- its acquisition of GE Intelligent Platforms Embedded Systems Inc. from General Electric Company.
Agriculture
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Permira Funds (United Kingdom) in:
- its $1.9 billion sale of an 80 percent stake in Netafim Ltd. (Israel) to Mexichem, S.A.B. de C.V. (Mexico); and
- the $3.5 billion sale of its portfolio company Arysta LifeScience Limited (Ireland), a provider of crop protection products, to Platform Specialty Products Corporation, a producer of specialty chemicals.
Automotive/Transportation and Infrastructure
- Apax Partners L.P. in the $800 million acquisition by Apax-advised funds of Quality Distribution, Inc., a provider of logistics and transportation services to the chemical, intermodal and energy industries.
- Calera Capital in its sale of a majority stake in Rock-It Cargo USA, LLC to an investor group.
- China Renaissance Capital Investment Inc. (Hong Kong) as part of the buyer consortium, along with Zhengzhou Coal Mining Machinery Group Co. Ltd. (China), in its €545 million acquisition of the starter motor and generator business of Robert Bosch GmbH (Germany).
- Kelso & Company L.P., the majority shareholder in Poseidon Containers Holdings LLC (Greece) and K&T Marine LLC (together, Poseidon Containers), in Poseidon’s $780 million combination with Global Ship Lease, Inc. (United Kingdom).
- Morgan Stanley Private Equity Asia (Hong Kong) as sponsor and the buyer group, including Mr. Hanlin Chen, the chairman of China Automotive Systems, Inc., in its $75.2 million going-private acquisition of the remaining 44 percent stake in China Automotive Systems not already owned by Mr. Chen.
- Perella Weinberg Partners Capital Management LP in its sale of the Infinity Transportation portfolio of rail, intermodal and truck/trailer assets and other portfolio-related assets to funds affiliated with Global Atlantic Financial Group Limited (Bermuda).
- a bidder in the auction by Syncora Holdings Ltd. for its American Roads LLC’s bridge and tunnel assets in Alabama and Michigan.
Construction and Engineering
- JLL Partners in its acquisition of Pioneer Sand Company, Inc. and Pioneer Landscaping Materials, Inc.
- funds managed by Oaktree Capital Management, L.P. in its partnership with Sachs Electric Co.
- Veritas Capital in its $700 million acquisition of the capital services business of Chicago Bridge & Iron Company N.V. (the Netherlands).
Consulting and Professional Services
- a consortium consisting of MSPEA Education Holding Limited (Cayman Islands), an affiliate of Morgan Stanley Private Equity Asia Limited, and certain existing shareholders of Noah Education Holdings Ltd., including Mr. Xu Dong, chairman of the company, in its $107 million going-private acquisition of Noah Education, a provider of educational services in China.
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Calera Capital in:
- its sale of a majority stake in United Site Services, Inc. to Platinum Equity, LLC;
- its acquisition of a minority stake in Transaction Services Holdings Limited (New Zealand); and
- its acquisition of United Site Services Inc., a provider of portable sanitation, temporary fencing and other site services. Skadden also represented Calera Capital in connection with a related senior secured financing and mezzanine financing.
- DH Private Equity Partners (United Kingdom) and Middenberm Group (Luxembourg) in the $2 billion sale of TMF Group Holding B.V. (Netherlands) to funds advised by CVC Capital Partners Limited (United Kingdom).
- Eurazeo in its US$149 million acquisition of a 41 percent stake in LPCR Groupe, SAS. Both companies are based in France.
- Hg (United Kingdom) in its sale of Radius GGE, Inc. to Vistra Holdings S.à r.l. (Luxembourg).
- Oaktree Capital Management, L.P. in its investment in My Alarm Center, LLC and the related financing aspects.
- Pamplona Capital Management LLC (United Kingdom) in its acquisition of VText Holdings, Inc.
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Permira Funds (United Kingdom) in its:
- acquisition of a majority stake in Cielo, Inc. from Accel-KKR; and
- $336 million acquisition of a majority stake in John Masters Organics, Inc.
- Sentinel Capital Partners, LLC in its acquisition of Total Military Management, Inc.
Consumer Goods and Services
- affiliates of The Carlyle Group LP, Sequoia Capital and Actis Capital, LLP (United Kingdom) in the $1.3 billion sale of an 81 percent stake in Keystone Lodging Holdings Ltd. to Shanghai Jinjiang International Hotels Development Co.
- Apax Partners L.P. in its acquisition of a controlling interest in FULLBEAUTY Brands, Inc.
- Calera Capital as selling shareholder in the $780 million sale of HMK Mattress Holdings LLC to Mattress Firm Holding Corp.
- DH Private Equity Partners (United Kingdom) in its sale of a 70 percent stake in Balta Industries N.V. (Belgium), a carpet and rug manufacturer, to Lone Star Funds.
- Fox Paine & Company, LLC and its portfolio company Cradle Holdings, Inc. in their sale of Penhaligon’s Ltd. (United Kingdom) and L’Artisan Parfumeur SA (France) to Puig S.L. (Spain).
- GP Investments in its $400 million going-private tender offer for all the shares of BHG S.A. Both companies are based in Brazil.
- Halder Beteiligungsberatung GmbH in its acquisition of Amoena Medizin-Orthopädie-Technik GmbH, a manufacturer of prostheses and personal care products for women. Both companies are based in Germany.
- Hg in the sale of its portfolio company JLA Limited to Cinven Limited. All three companies are based in the United Kingdom.
- Highview Capital, LLC in its acquisition, along with Victory Park Management, LLC, of substantially all of the assets of Katy Industries, Inc. as part of Katy Industries’ Chapter 11 reorganization.
- JAB Holding Co. (Germany) in its acquisition of Espresso House Holding AB (Sweden) from Herkules Capital AS (Norway).
- a buyer group including Ms. Hong Li, co-founder and chairwoman of the board of Country Style Cooking Restaurant Chain Co., Ltd. (China), Mr. Xingqiang Zhang, co-founder, chief executive officer and director, Sky Success Venture Holdings Ltd. (China) and SIG China Investments One, Ltd. in its $45 million going-private acquisition of Country Style Cooking Restaurant Chain Co., Ltd.
- MBK Partners (South Korea) in the $1.5 billion sale of a 51 percent stake in USJ Co., Ltd. (Japan) to NBCUniversal Media, LLC; followed by its $2.3 billion sale, as part of a consortium, of the remaining 49 percent stake.
- New Horizon Capital (Hong Kong) in its sale of a stake in Evergreen International Holdings Limited (China).
- Sentinel Capital Partners, LLC in its acquisition of Hollander Home Fashions Holdings, LLC, a manufacturer of bedding products.
- Tengram Capital Partners, L.P., the controlling owner of Robert Graham Designs, LLC, and certain of its affiliates in the merger of the Hudson business of Joe’s Jeans Inc. with RG Parent LLC, the parent company of Robert Graham. In connection with this transaction, an affiliate of Tengram Capital Partners will sponsor a recapitalization of the combined business.
- TPG Capital, L.P. in TOMY Company, Ltd.’s (Japan) $56 million repurchase of TPG’s remaining 4.6 percent stake in TOMY, a toy manufacturer.
Energy/Oil & Gas/Utilities
- a consortium consisting of Morgan Stanley Private Equity Asia affiliate MSPEA Gas Holdings Limited (Cayman Islands), Zhongyu Gas Holdings Limited (Hong Kong) and Mr. Yuchuan Liu, chairman and chief executive officer of Sino Gas International Holdings Inc. (China), in its $74 million going-private acquisition of Sino Gas.
- AIA Energy North America, an investment fund managed by Argo Infrastructure Partners, in its acquisition of entities that own and operate the Cross-Sound Cable System, a 24-mile, high-voltage, direct current submarine transmission line between New Haven, Connecticut and Shoreham, New York.
- Anchorage Capital Group, L.L.C., along with EIG Global Energy Partners and Guggenheim Partners, LLC, in their $1 billion investment in 9.25% senior secured second-lien notes due 2020 and perpetual convertible preferred units of Breitburn Energy Partners LP, a publicly traded independent oil and gas master limited partnership (MLP) focused on the acquisition, development and production of oil and gas properties throughout the United States. The transaction involved complex structuring issues to navigate tax concerns as well as federal land lease/BLM statutes.
- ArcLight Capital Partners, LLC in its sale of a 50.1 percent stake in Southeast PowerGen, LLC, a portfolio of gas-fired power plants, to The Carlyle Group LP.
- Ardian Americas Infrastructure Fund IV (Luxembourg) in the formation of a partnership with Transatlantic Power Holdings LLC to create a U.S. renewables platform, Skyline Renewables LLC, which will focus on acquiring, operating and developing projects in the U.S. onshore wind sector and is targeting a total installed capacity of 3 GW.
- Five Point Capital Partners LLC in its formation of a joint venture with Matador Resources Company to own, operate and expand natural gas, crude oil, and produced water midstream assets in the Delaware Basin, including Matador’s midstream assets in Eddy County, New Mexico and Loving County, Texas. The joint venture company is called San Mateo Midstream, LLC.
- Five Point Capital Partners and GSO Capital Partners LP as part of an investor group in its acquisition of Twin Eagle Resource Management, LLC, a natural gas and power marketing company.
- a buyer consortium consisting of affiliates of Forebright Capital Management Ltd. (Hong Kong) in its $99 million going-private acquisition of Jinpan International Limited (China).
- Fortress Investment Group LLC and Jefferson Gulf Coast Energy Partners LLC in their acquisition of the assets of Jefferson Refinery, L.L.C. and in the related acquisition financing, which consisted of a $100 million term loan facility.
- Global Infrastructure Partners in its investment in a 1,029 MW natural gas-fired, combined cycle power generation facility to be located in Salem Township, Luzerne County, Pennsylvania.
- a leading Israeli private equity fund in its $627 million disposition of its stake in Ormat Technologies, Inc., a leading geothermal energy company.
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J.P. Morgan Asset Management, Inc. in:
- the formation of a joint venture company with Sonnedix Management Services Ltd. (Italy), Sonnedix Power Holdings Ltd., to pursue opportunities in the global solar market; and
- its acquisition of an additional 48 percent stake in Sonnedix Power Holdings Ltd., its joint venture company with Sonnedix Management Services Ltd. (Italy).
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LetterOne Holdings S.A. (Luxembourg) in its:
- $725 million sale of DEA UK Holdings Limited to Ineos AG (Switzerland); and
- $1.6 billion acquisition of E.ON E&P Norge AS (Norway) from E.ON Beteiligungen GmbH (Germany).
- Silver Point Capital, L.P. in the sale of its interest in oil and gas properties off the coast of Southern California to Memorial Production Partners LP.
- The Vitol Group (the Netherlands) and Helios Investment Partners LLP (United Kingdom) in their joint venture with Oando plc (Nigeria) to acquire the Nigerian downstream businesses of Oando for $460 million.
Financial Services
- the key investors in AmericanWest Bank N.A., Friedman Fleischer & Lowe, LLC and Oaktree Capital Management, L.P. in connection with the $702 million merger of AmericanWest with Banner Corporation, a bank holding company.
- BlackRock Advisors, LLC in its acquisition of certain assets of BlackRock Kelso Capital Advisors LLC.
- The Blackstone Group L.P. in its acquisition of a controlling interest in Stearns Lending LLC, a retail mortgage origination and servicing company.
- Eurazeo SE (France) in its acquisition of a 30 percent stake in Rhône Group LLC.
- Fair Oaks Capital Limited (United Kingdom) in the sale of a minority stake to Kudu Investment Management, LLC.
- Oaktree Capital Management, L.P. with the regulatory aspects of its acquisition of Highstar Capital.
- Permira Funds (United Kingdom) in its $1.8 billion acquisition of Duff & Phelps Corporation.
- Pine Brook Road Partners, LLC in its acquisition of Triumph Capital Advisors, LLC from Triumph Bancorp, Inc.
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Stone Point Capital LLC in connection with:
- equity financing related to Atlantic Capital Bancshares, Inc.’s $160 million acquisition of First Security Group, Inc. The financing consists of a $25 million private placement of Atlantic Capital common stock to Trident IV, L.P. and Trident IV Professionals Fund, L.P., investment funds managed by Stone Point Capital; and
- the $299 million merger-of-equals of its portfolio company VantageSouth Bancshares, Inc. with Yadkin Financial Corporation.
- Tennenbaum Capital Partners, LLC in its sale to BlackRock, Inc.
- Trident VI, L.P., a fund managed by Stone Point Capital LLC, in its investment in Pantheon Partners, LLC, the parent company of the Freedom Financial Network, LLC.
Financial Services - Fintech
- funds advised by Apax Partners L.P. in its acquisition of a majority stake in Duck Creek Technologies, Inc. from Accenture plc (Ireland).
- Eurazeo in connection with the €790.5 million acquisition of 15.4 percent of Eurazeo’s share capital by JCDecaux Holding, and the execution of a governance agreement. Both companies are based in France.
- Hg (United Kingdom) in its sale of Ullink SAS (France) and NyFix, Inc. to Itiviti AB (Sweden), a portfolio company of Nordic Capital (Sweden).
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Pine Brook Road Partners, LLC:
- and Fair Square Financial Holdings LLC in a $100 million equity investment in Fair Square Financial by The Orogen Group;
- in its controlling investment in Fair Square Financial; and
- in its minority investment in Better Mortgage.
- Stone Point Capital LLC and its portfolio company Bankruptcy Management Solutions, Inc. (doing business as Stretto) in the acquisition of Credit Infonet Holdings, Inc. (doing business as CINgroup).
- TPG Capital, L.P.’s Rise Fund as lead investor in a US$45 million Series B investment round for Varo Money, Inc.
Food, Beverage and Tobacco
- Fortress Investment Group LLC in its US$3.3 billion acquisition by SoftBank Group Corp. (Japan).
- Permira Funds (United Kingdom) in the $2.8 billion sale of its portfolio company Iglo Foods Holdings Limited (United Kingdom) to Nomad Holdings Limited (British Virgin Islands).
Health Care and Life Sciences
- a consortium led by David Gao, the former chairman and chief executive officer of China Biologic Products Holdings, Inc., and including GL Capital Group (China), Bank of China Group Investment Limited (Hong Kong) and CDH Investments (China), in its proposed $3.9 billion going-private acquisition of China Biologic Products Holdings.
- a consortium of investors including GL Capital Management Limited (Hong Kong), Jade Park Investments Ltd. (Cayman Islands), Bank of China Group Investment Ltd. (Hong Kong) and ABG Management Ltd. (Cayman Islands) in its initially unsolicited, but subsequently agreed upon, $605 million going-private acquisition of the outstanding shares of SciClone Pharmaceuticals, Inc.
- Ares Life Sciences AG (Switzerland), an investment fund created by the Bertarelli family, and Waypoint Capital in their acquisition of the remaining 30 percent stake in Euromedic International B.V. (the Netherlands), a provider of diagnostic and cancer treatment services, that they did not already own from Montagu Private Equity LLP (United Kingdom).
- Atrium Innovations Inc. (Canada) and Permira Funds (United Kingdom) in Atrium Innovations’ $2.3 billion acquisition by Nestle Health Science S.A. (Switzerland) from a group of investors including a company backed by the Permira Funds.
- C-Bridge Capital Healthcare Fund II, L.P. and Advantech Capital L.P. as part of a consortium in its $402 million going-private acquisition of Sinovac Biotech Ltd. All three companies are based in China.
- Caravelle, SA (France) in its $765 million sale of Coopération Pharmaceutique Française SAS (Cooper) (France) to Charterhouse Capital Partners LLP (United Kingdom).
- The Carlyle Group LP in its equity investment in Rede D’Or São Luiz S.A., a hospital operator in Brazil.
- DH Private Equity Partners (United Kingdom) in its $1.65 billion sale of LM Wind Power A/S (Denmark) to General Electric Company.
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Hg (United Kingdom) in its:
- sale of Frösunda Holdco AB (Sweden) to The Adolfsen Group (Norway);
- acquisition of a majority interest in the Rhapsody business of Orion Health Group Limited (New Zealand), and its investment in Orion’s Population Health business; and
- sale of Kinapse Topco Limited (United Kingdom) to Syneos Health, Inc.
- Highbridge Capital Management, LLC in the launch of its newly formed subsidiary Currax Holdings USA LLC and in Currax Holdings’ acquisition of substantially all of the assets of Pernix Therapeutics Holdings, Inc. Highbridge served as stalking horse bidder and debtor-in-possession lender in Pernix’s Chapter 11 bankruptcy cases.
- Hillhouse Capital Management, Ltd. (China) as a member of the buyer consortium in its $3.3 billion going-private acquisition of WuXi PharmaTech (Cayman) Inc. This deal was named as TMT Deal of the Year for 2015 at the China Law & Practice Awards 2016.
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Kelso & Company:
- and Blue Wolf Capital Fund III, L.P. in their acquisition of Jordan Health Services, Inc. from Palladium Equity Partners and the combination of Jordan with two Blue Wolf portfolio companies, National Home Health Care Corp. and Great Lakes Caring;
- in Foundation Consumer Healthcare, LLC’s $675 million acquisition of Plan B One-Step and other value brands of emergency contraceptives from Teva Pharmaceuticals Industries Limited (Israel). Foundation Consumer Healthcare is owned by affiliates of Juggernaut Capital Partners and Kelso & Company; and
- in its acquisition of Physicians Endoscopy, LLC from Pamlico Capital.
- Oaktree Capital Management, L.P. and certain of its affiliates in the $103 million sale of a 51.5 percent stake in Alliance HealthCare Services, Inc. to Fujian Thaihot Investment Co., Ltd. (China).
- New Horizon Capital (Hong Kong), a Singapore sovereign wealth fund and CDH Investments (China) as selling shareholders in a $99 million sale of shares in Luye Pharma Group Ltd. (China).
- a company backed by Permira Funds (United Kingdom) in its acquisition of Lyophilization Services of New England, Inc.
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Permira Funds (United Kingdom) in:
- the $895 million sale of its portfolio company Creganna Medical (Ireland) to TE Connectivity Ltd. (Switzerland); and
- the $765 million sale of its portfolio company PHARMAQ Holding AS (Norway) to Zoetis Inc.
- Ready Pac Foods, Inc. and its majority shareholder, H.I.G. Bayside Capital, in its acquisition by Bonduelle SA (France).
- Veritas Capital and its portfolio company Verscend Technologies, Inc. in Verscend’s $4.9 billion acquisition of Cotiviti Holdings, Inc.
- Industrial Machinery
- Permira Funds (United Kingdom) in its acquisition of DiversiTech Corporation from an affiliate of The Jordan Company, L.P.
- a company backed by Permira Funds (United Kingdom) in its $1.5 billion sale of Intelligrated Inc. to Honeywell International Inc.
- Wasserstein & Co., LP in its $160 million sale of High Pressure Equipment Company, Inc., a manufacturer of valves, fittings and tubing products, to Graco Inc., a manufacturer of industrial equipment.
Insurance and Reinsurance
- Calera Capital in its acquisition of RFIB Group Limited (United Kingdom).
- Crestview Partners, L.P. and Pine Brook Road Partners, LLC as founding investors in a $1.5 billion equity capital raise by Fidelis Insurance Holdings Limited (Bermuda).
- OMERS Private Equity (Canada) in its $1 billion investment in Allied World Assurance Company Holdings, AG (Switzerland).
- funds managed by Stone Point Capital LLC, along with Barry D. Zyskind, chairman and CEO of AmTrust Financial Services, Inc., George Karfunkel and Leah Karfunkel, in their proposed joint acquisition of the remaining stake in AmTrust that the Karfunkel-Zyskind family does not already own or control.
- Stone Point Capital, LLC in its acquisition of Kensington Vanguard Holdings, LLC.
- TDR Capital LLP (United Kingdom) and Retirement Advantage (United Kingdom) in the sale of the MGM group of companies to Canada Life, including the negotiation of the share purchase agreement and assisting Canada Life with obtaining the regulatory approvals.
- TPG Capital, L.P., a private equity firm, in its $1.5 billion acquisition of The Warranty Group, Inc., a provider of insurance services.
- Skadden also represented TPG Capital in connection with the acquisition financing.
- The Warranty Group, Inc. and its parent company TPG Capital, L.P. in Warranty Group’s $2.5 billion acquisition by Assurant, Inc.
Internet Services
- Permira Funds (United Kingdom) in its sale of a majority stake in Teraco Data Environments (Pty) Ltd. (South Africa) to Berkshire Partners LLC.
- SDC Capital Partners, LLC in its acquisition of a majority stake in Summit Infrastructure Group, Inc.
Materials
- Equistone Partners Europe GmbH (United Kingdom) in its sale of Konrad Hornschuch AG (Germany) to Benecke-Kaliko AG (Germany).
- Norwest Equity Partners and Quadion LLC (doing business as Minnesota Rubber and Plastics) in the sale of Quadion to KKR & Co. Inc.
- Permira Funds (United Kingdom), as co-counsel, in its acquisition of Evonik Jayhawk Fine Chemicals Corporation from Evonik Industries AG (Germany).
Media, Entertainment and Telecom
- a buyer consortium consisting of Carlyle Group Inc., Trustbridge Partners V, L.P. (Cayman Islands) and a large strategic investor in connection with its acquisition of a controlling stake in Cloudary Corporation (China), an online literature and publications provider.
- Apax Partners L.P. in the sale of a majority stake in Advantage Sales & Marketing LLC to affiliates of private equity firm Leonard Green & Partners, L.P. and funds advised by CVC Capital Partners Limited (United Kingdom).
- Bain Capital, LLC with the national security aspects of its $2.4 billion acquisition of Blue Coat Systems Inc.
- The Carlyle Group LP in its investment in newly issued Class A ordinary shares and convertible notes of SouFun Holdings Ltd. (China).
- DH Private Equity Partners (United Kingdom) in the €875 million sale of its stake in Eurofiber Nederland B.V. to funds managed by Antin Infrastructure Partners S.A.S. (France).
- Pamplona Capital Management LLP (United Kingdom) in its $150 million PIPEs investment in Lumos Networks Corp.
- Permira Funds (United Kingdom) in its $1.1 billion sale of its portfolio company, Renaissance Learning Inc., a provider of educational software, to Hellman & Friedman LLC.
- TA Associates, Inc. and Summit Partners LLP in the sale of their portfolio company Bigpoint HoldCo GmbH (Germany) to Youzu Interactive Co. Ltd (China).
- TrustBridge Partners (China) in its acquisition of Holiday House, Inc.
- United Capital Partners in its US$1.5 billion sale of a 48 percent stake in VK.com Limited (the holding company of Vkontakte.ru, Russia’s largest social online networking service) to Mail.ru Group Limited. All three companies are based in Russia.
- Veritas Capital in its acquisition of Emergency Communications Network, LLC from The Riverside Company.
Metals and Mining
- Baring Private Equity Asia (Hong Kong) in its $205 million sale of Net Japan Co., Ltd., a precious metals trading and recycling company, to ORIX Corporation (Japan), a diversified financial services company.
- StandardAero, Inc. and its parent company, Veritas Capital, in StandardAero’s acquisition of PAS Technologies Inc. from KRG Capital Partners.
Office Services and Supplies
- funds managed by Castik Capital S.a.r.l. (Luxembourg) in their acquisition of majority stakes in IPAN GmbH (Germany) and Delegate.
- Doughty Hanson & Co. Real Estate (United Kingdom) in its sale of Massalia Shopping Mall SCI (France) to Klepierre SA (France) and a private co-investor.
- J.W. Childs Associates, L.P. in its $333 million sale of Esselte Group Holdings AB (Luxembourg) to ACCO Brands Corporation.
Real Estate
- Brookfield Business Partners L.P. (Bermuda), in its $1 billion sale of Brookfield Global Integrated Solutions (Canada) to CCMP Capital Advisors, LP.
- Industrial Securities Europe (United Kingdom) and MCAP Global Finance (UK) LLP (United Kingdom) in the $573 million sale of their European logistics portfolio to real estate funds managed by The Blackstone Group L.P.
- Lone Star Funds with the tax aspects of its $7.6 billion acquisition of Home Properties, Inc. in a going-private transaction.
- TK Partners (Brazil), a consortium of investors led by Tunbridge Investment Partners LLC, in their acquisition of a minority stake in Savanna Partners.
- TPG Capital, L.P. in its US$375 million acquisition of a national portfolio of light industrial properties.
Software and Technology
- funds advised by Apax Partners L.P. in the acquisition of ECi Software Solutions, Inc.
- CapitalG, the venture capital arm of Alphabet Inc., in connection with its $1 billion financing round in Lyft, Inc.
- Equistone Partners Europe GmbH (formerly known as Barclays Private Equity) in its acquisition of Caseking GmbH, an online retailer of computer components, from Afinum Management GmbH. All three companies are based in Germany.
- Freescale Semiconductor, Ltd. and a private equity consortium including The Blackstone Group L.P., The Carlyle Group LP, Permira Funds (United Kingdom) and TPG Capital, L.P. in Freescale’s US$11.8 billion acquisition by NXP Semiconductors NV (the Netherlands).
- GoldStone Investment Co., Ltd. (China) as a member of a consortium that includes Hua Capital Management Co., Ltd. (China) and CITIC Capital Holdings Limited (Hong Kong), in its US$1.9 billion acquisition of OmniVision Technologies, Inc., a developer of advanced digital imaging solutions. Skadden also is representing the consortium in connection with CFIUS matters.
- Hg6 Fund (China) and IRIS Software Group Limited (United Kingdom) in IRIS Software’s sale to Hg Saturn Fund (China) and Intermediate Capital Fund plc (United Kingdom).
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Hg (United Kingdom) in:
- its investment in Litera Microsystems;
- its sale of a minority stake in Visma AS (Norway) to the Canada Pension Plan Investment Board; and
- Hg Saturn Fund’s €640 million (US$723 million) acquisition of an additional stake in Visma AS (Norway) from Cinven Limited. Both Hg and Cinven are based in the United Kingdom.
- JLL Partners in its acquisition of Xcellence, Inc. from Clearview Capital, LLC.
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LetterOne Holdings S.A. (Luxembourg) in its:
- acquisition of a 48 percent stake in Qvantel OY (Finland); and
- $200 million investment in Uber Technologies, Inc.
- Permira Funds Ltd. (United Kingdom) with the antitrust aspects of its acquisition of a majority stake in Exclusive Networks Ltd. (France).
- SCOR Capital Partners in its acquisition of a 30 percent stake in Gutenberg Technology SAS. Both companies are based in France.
- Sequoia Capital China and its affiliates in their $39 million sale of a 64 percent stake in Mecox Lane Limited, an apparel and accessories retailer, to Cnshangquan E-Commerce Co., Ltd. All three parties are based in China.
- Silver Lake in its acquisition of a majority stake in ServiceMax, Inc. from GE Digital LLC.
Recent Insights & News
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