Mergers & Acquisitions

Experience

    • Resolution Life in its $9.4 billion reinsurance agreement with Lincoln Financial Group.
    • Glendower Capital in its strategic partnership with CVC, creating a combined group with total assets under management of approximately €113 billion.
    • Providence Equity Partners in the combination of Blackboard, a leading global educational technology software and solutions company, and Anthology, a leading provider of proven higher education solutions.
    • Fortitude Re, a Carlyle Group portfolio company, in its acquisition of a $31 billion block of legacy variable annuities from Prudential Financial for a total transaction value of $2.2 billion.
    • Covéa in its definitive agreement to sell CSE Insurance to Porch Group for $48.6 million in cash.
    • Pactiv Evergreen in its $380 million acquisition of Fabri-Kal, a U.S. manufacturer of foodservice and custom thermoformed plastic packaging solutions.
    • Lone Wolf, a Stone Point Capital portfolio company, in its acquisition of Propertybase, a leading global real estate and mortgage software company.
    • DoubleVerify, a software platform for digital media measurement, data and analytics, in its agreement to acquire Meetrics, a European ad verification company, in an all-cash transaction.
    • Morgan Stanley, as financial advisor to Veoneer, in Veoneer’s sale to Magna.
    • Discovery in the acquisition of WarnerMedia from AT&T in a Reverse Morris Trust transaction that values the combined entity at approximately $130 billion.
    • Clayton, Dubilier & Rice and Solenis in the sale of Solenis to Platinum Equity at an implied enterprise value of $5.25 billion.
    • Clayton, Dubilier & Rice in its $6 billion acquisition and subsequent combination of Fort Dearborn and Multi-Color Corporation, to create the world's largest label solutions company.
    • Domtar in its $3 billion sale to Paper Excellence.
    • AIA in its acquisition of BEA Life Limited and 15-year exclusive bancassurance partnership with The Bank of East Asia in Hong Kong and Mainland China.
    • Verizon in its $6.25 billion acquisition of Tracfone, the largest reseller of wireless services in the U.S.
    • Clayton, Dubilier & Rice in its $4.7 billion acquisition of Epicor Software, a global provider of cloud-based, industry-specific Enterprise Resource Planning software to industrial-focused sectors.
    • Aveva Group, a global leader in industrial software, in its $5 billion acquisition of OSIsoft.
    • Gogo in the $400 million sale of its commercial aviation business to Intelsat.
    • The Special Committee of Liberty Broadband in Liberty Broadband’s $10.59 billion acquisition of GCI Liberty.
    • Clayton, Dubilier & Rice in its $2.9 billion acquisition of White Cap, a leading distributor of specialty concrete and construction products, and its combination of White Cap with CSG, a leading U.S. distributor of specialty concrete and masonry accessories, for a total transaction value of approximately $4 billion.
    • The Special Committee of the Board of Directors of Match Group, a dating company with a market value of over $30 billion, in its separation from IAC.
    • Clayton, Dubilier & Rice and BrandSafway in the $6.2 billion sale of BrandSafway to Brookfield Business Partners L.P. and CD&R Fund X.
    • Verizon in its acquisition of BlueJeans, a market-leading cloud-based video conferencing and event platform.
    • InterXion in its combination with Digital Realty, valuing InterXion at $8.4 billion.
    • Third Point Re in its $788 million merger with Sirius Group.
    • Amazon as strategic partner to Yankee Global Enterprises in the acquisition of the YES Network from The Walt Disney Company at a total enterprise value of $3.47 billion.
    • Global Atlantic, a retirement and life insurance company with $70 billion in investable assets, in its $4.4 billion sale to KKR.
    • Morgan Stanley Capital Partners and Pathway Vet Alliance in the $2.7 billion sale of a majority stake in Pathway to TSG Consumer Partners.
    • Artera, a Clayton, Dubilier & Rice portfolio company and one of the nation’s largest providers of integrated infrastructure services to natural gas and electric industries, in its acquisition of Otis Eastern Service.
    • Prudential in its sale of Prudential of Taiwan to Taishin Financial.
    • AIA in its strategic partnership with Practo, India’s leading digital healthcare platform.
    • Prudential plc and Jackson National in the reinsurance to Athene of $27.6 billion of Jackson’s in-force fixed and fixed index annuities and a $500 million equity investment in Jackson’s holding company.
    • Blackstone Group in its acquisition of HealthEdge, a leading technology business that delivers next generation Core Administrative Processing Systems (CAPS) solutions to healthcare businesses.
    • Toyota Motor Corporation in its $394 million investment in Joby Aviation, an aerospace company that is developing and commercializing all-electric vertical takeoff and landing aircraft to enable the deployment of fast, quiet and affordable air taxi services.
    • New York Life in its $6.3 billion acquisition of Cigna’s Group Life and Disability Insurance business.
    • GoDaddy in its acquisition of Neustar’s Registry business, a registry technology platform that includes an extensive portfolio of top-level domains.
    • Johnson & Johnson in its acquisition of TARIS, a biotechnology company specializing in the development of a novel drugs and delivery technologies for the treatment of cancer.
    • Blackstone Group in its $2.7 billion sale of F&G to Fidelity National Financial.
    • International Paper in the sale of its Brazilian corrugated packaging business to Klabin.
    • The Carlyle Group in its investment in American Express Global Business Travel. (Terminated)
    • TPG Growth in an investment by U.S. Steel in Big River Steel valuing Big River Steel at $2.325 billion.
    • Tribune Media Company in its $7.2 billion sale to Nexstar Media.
    • LeapFrog Investments in its investment in MedGenome, a leading genetic diagnostics, research and data company focused on expanding access for populations in South Asia and other emerging markets, with operations in the U.S., India, Canada and Singapore.
    • Morgan Stanley and Greenhill Partners, as financial advisors to International Flavors and Fragrances, in its $45 billion Reverse Morris Trust merger with the nutrition and biosciences unit of DuPont de Nemours.
    • Elliott Management in its $683 million acquisition of Barnes & Noble, the largest retail bookseller in the U.S.
    • Prudential Financial in its $2.35 billion acquisition of Assurance IQ.
    • American Express in its acquisition of Resy, a leading digital restaurant reservation booking and management platform.
    • PowerTeam Services, a Clayton, Dubilier & Rice portfolio company, in its purchase of Miller Pipeline and Minnesota Limited for $850 million in cash.
    • Aflac Global Investments, a subsidiary of Aflac, in its $3 billion strategic partnership with Varagon Capital Partners.
    • Providence Equity Partners in its majority investment of €200 million in Smartly.io.
    • Clayton, Dubilier & Rice and TRANZACT in the $1.3 billion sale of TRANZACT to Willis Towers Watson.
    • TPG Growth in its takeover of the existing assets of the Abraaj Group’s $1 billion Global Healthcare Fund. The deal saw Debevoise win the “Specialist Deal Legal Advisor” category at the Private Equity Africa Awards.
    • The Carlyle Group in its $1.8 billion acquisition, with T&D Holdings, of a majority interest in Fortitude Re.
    • Discovery, Inc. in its $14.6 billion acquisition of Scripps Networks Interactive.
    • DoubleVerify in its acquisition of Ad-Juster, a market-leading SaaS provider of unified data reporting and analytics for digital advertising.
    • Toyota Motor Corporation in its joint investment, with DENSO Corporation and SoftBank Vision Fund, in Uber’s Advanced Technologies Group.
    • Centerbridge Partners in its investment in GoHealth.
    • J.P. Morgan Securities, as financial advisor to The Medicines Co., in the $9.7 billion acquisition of The Medicines Co. by Novartis AG.
    • Pacific Life in its sale of Aviation Capital Group to Tokyo Century Corporation.
    • Morgan Stanley Private Equity in its acquisition of Impact Fitness, a franchisee of Planet Fitness and formerly a Bain Capital portfolio company.
    • Ply Gem and Clayton, Dubilier & Rice in Ply Gem’s $5.5 billion stock-for-stock combination with NCI Building Systems.
    • Pernod Ricard in its $223 million acquisition of Castle Brands.
    • Clayton, Dubilier & Rice in its acquisition of Cynosure, a leader in medical aesthetics systems and technologies, from Hologic, a NASDAQ listed medical technology company primarily focused on women’s health.
    • Capital Group Private Markets and other selling shareholders in the $1.85 billion sale of Eaton Towers to American Tower. The deal won the “M&A Deal of the Year” category at the IFLR1000 Sub-Saharan Africa Awards.
    • Bain Capital Private Equity and Diamond Castle in the sale of Beacon Health Options to Anthem.
    • HCA Healthcare in its $1.5 billion acquisition of Mission Health, a nonprofit North Carolina health system.
    • Reynolds Group and Closure Systems International (CSI) in their sale of CSI businesses and facilities to Cerberus Capital Management.
    • Alaska National Insurance Company in its acquisition by Copperpoint Insurance Companies.
    • Mitsui USA in its acquisition of a minority non-controlling interest in Capitala, an asset management firm, and the formation of a strategic partnership between the two firms.
    • J.P. Morgan Securities, as financial advisor to Allergan, in the sale of Allergan to AbbVie for $63 billion in cash and stock.
    • Morgan Stanley Private Equity in its sale of CoAdvantage to Aquiline Capital.
    • One Rock Capital Partners in its acquisition of the Engineered Components and Systems segment of Actuant Corporation.
    • Emergent Cold, an Elliott Management portfolio company, in its acquisition of New Orleans Cold Storage.
    • Chubb in the acquisition of Banchile Seguros de Vida and Segchile Seguros Generales from a subsidiary of Quiñenco S.A. and other minority investors.
    • FWD in its acquisition of MetLife Hong Kong.
    • Schneider Electric in its joint venture with The Carlyle Group to develop energy management and automation solutions for critical infrastructure projects.
    • Guggenheim Securities and Morgan Stanley, as financial advisors to Pfizer, in its $11.4 billion acquisition of Array Biopharma.
    • Alibaba in the joint venture of its AliExpress business in Russia with the Russian Direct Investment Fund, MegaFon and Mail.ru, aimed at integrating Russia’s key consumer internet and e-commerce platforms.
    • Principal Financial Group in its $1.2 billion acquisition of Wells Fargo & Company’s Institutional Retirement & Trust business.
    • AmTrust Financial Services in the merging of its Lloyd’s business with Canopius. The transaction will create a top-five insurer at Lloyd’s with combined premiums of approximately $2.2 billion.
    • Kelso & Company in its acquisition of J.S. Held, a global consulting firm focused on high value insurance claims and construction-related matters.
    • GoDaddy in its acquisition of Sellbrite, a multi-channel management platform.
    • Providence Equity Partners in the combination of Benefit Street Partners and Franklin Templeton Investments.
    • SouthernCarlson in its sale to Kyocera Corporation.
    • Clayton, Dubilier & Rice in its acquisition of a controlling interest in Westbury Street, a leading independent contract caterer and hospitality services provider in the UK.
    • Toyota Motor Corporation in its $500 million investment in Uber to jointly develop Uber’s self-driving business.
    • The Carlyle Group in its strategic minority investment in Grupo Madero, the largest casual dining and fast-casual restaurant chain in Brazil.
    • AmTrust Financial Services in the sale of its domestic and international surety and credit reinsurance operations to Liberty Mutual.
    • Deutsche Bank Securities, as financial advisor to Eli Lilly, in Eli Lilly's $8 billion acquisition of Loxo Oncology.
    • Blackstone’s Tactical Opportunities Group in its strategic minority investment in Annexus, a leading designer of annuities and insurance-based retirement products.
    • NCI Building Systems in its unit purchase agreement with Environmental Materials, LLC.
    • Quarton International in its sale to Cowen.
    • Time Inc. in its $2.8 billion sale to Meredith.
    • Clayton, Dubilier & Rice in its $2.5 billion acquisition of HD Supply’s Waterworks Division, the largest distributor of waterworks products in the U.S.
    • The Carlyle Group in its sale of a majority stake in Getty Images to the Getty family.
    • Risk Strategies, a Kelso & Company portfolio company, in its acquisition of Krauter & Company, a leading specialty firm focused on the risk and insurance needs of private equity firms and their portfolio companies nationwide.
    • Citizens Financial in its agreement to purchase certain assets of Bowstring Advisors, an Atlanta-based merger and acquisition advisory firm.
    • HarbourVest Partners in its role in the £1.2 billion take-private acquisition of UK insurer esure.
    • Resolution Life in its revised AUS$3.0 billion acquisition of AMP Life.
    • Chubb in its long-term distribution agreement with Banco de Chile, the largest bank based in Chile.
    • KeyBank in its acquisition of Laurel Road’s affinity-focused digital lending business.
    • Guggenheim Securities and Morgan Stanley, as financial advisors to Red Hat, in its $34 billion sale to IBM.
    • Citizens Financial in its acquisition of Clarfeld Financial Advisors.
    • Access Industries as a lead consortium investor in the $5.6 billion acquisition of Calpine.
    • American International Group in its $5.56 billion acquisition of Validus Group, a Bermuda-based, NYSE-listed, (re)insurance company.
    • Sequoia Capital as a shareholder of Qualtrics International in Qualtric’s $8 billion sale to SAP.
    • TPG Capital and Welsh, Carson, Anderson & Stowe, with Humana, in their $1.4 billion acquisition of Curo Health Services.
    • J.P. Morgan Securities, as financial advisor to CommScope, in CommScope's  $7.4 billion acquisition of ARRIS.
    • The Carlyle Group in its acquisition of an outstanding interest in NEP Group from Crestview Partners.
    • Ambev S.A. in the acquisition of a 30% interest in Cervecería Nacional Dominicana (CND), the leading beer company in the Caribbean, and the restructuring of its joint venture with E. León Jimenes, in a transaction valued at $926.5 million.
    • EIG in the formation of a joint venture with FS Investments to manage the $4 billion FS Energy and Power Fund.
    • Helios Investment Partners in its investment in KMR Holding Pédagogique, a Morocco-based leading private higher education group.
    • Clayton, Dubilier & Rice in its $2.4 billion take private of Ply Gem and acquisition of Atrium Windows & Doors, two leading building products companies.
    • Cornell Capital as a lead investor in the $2.05 billion acquisition of Talcott Resolution, The Hartford’s run-off life and annuity businesses.
    • International Paper in the $1.8 billion combination of its North America Consumer Packaging business with Graphic Packaging.
    • Cerberus Capital Management in its acquisition of Electrical Components International, the world’s leading manufacturer of wire harnesses, control boxes and value-added assembly services, from KPS Capital Partners.
    • Johnson & Johnson in its acquisition of Zarbee's Naturals, a leader in naturally-based healthcare products.
    • Johnson & Johnson in its global co-development and commercialization agreement with Theravance Biopharma, relating to various compounds being developed for the treatment of inflammatory bowel disease, including Crohn's and ulcerative colitis.
    • Dover Corporation in its acquisition of Germany-based Ettlinger, a leading manufacturer of filtering solutions for the plastics recycling industry.
    • AXA in its acquisition of 51% of Mercantil Colpatria’s insurance operations in Colombia for COP 672 billion.
    • Pitney Bowes in the sale of its global production mail business to Platinum Equity.
    • Solenis, a Clayton, Dubilier & Rice portfolio company, in its combination with BASF's paper and water chemicals business.
    • AIA Group in its AUS$3.8 billion acquisition of CommInsure and Sovereign, the life insurance businesses of the Commonwealth Bank of Australia in Australia and New Zealand, and related 20 year bancassurance agreements.
    • Guggenheim and J.P. Morgan, as financial advisors to Bioverativ, a global biopharmaceutical company, in Bioverativ’s $11.6 billion sale to Sanofi.
    • P2 Capital, alongside Silver Lake, in the $3.5 billion acquisition of Blackhawk, a global financial technology company.
    • TPG Capital and Welsh, Carson, Anderson & Stowe in the $4.1 billion acquisition of Kindred Healthcare.
    • Verizon Communications in its $3.1 billion acquisition of Straight Path Communications, a leading wireless spectrum holder.
    • The CF Corporation and The Blackstone Group in the $1.835 billion acquisition of Fidelity & Guaranty Life.
    • Sawai Pharmaceutical in its $1.5 billion acquisition of the generic pharmaceuticals business of Upsher-Smith Laboratories.
    • Allergan in its $2.47 billion acquisition of ZELTIQ, a medical technology company focused on utilizing its proprietary CoolSculpting controlled-cooling technology platform, the sales leader in the fast-growing body contouring segment of medical aesthetics.
    • Clayton, Dubilier & Rice in its $2.3 billion sale of Mauser Group, a leading global supplier of industrial rigid packaging products and reconditioning services, to Stone Canyon Industries.
    • Envision Healthcare in its $15 billion merger with AMSURG, creating one of the largest U.S. providers of specialty physicians and hospital-related services.
    • Nestlé in its $1.4 billion acquisition of the aesthetic dermatology business of Valeant Pharmaceuticals.
    • Norilsk Nickel in the $2 billion spin-off of its gold assets and creation of Polyus Gold, a major international gold company with a market capitalisation in excess of $9 billion.
    • The Dolan family, controlling stockholders of Cablevision Systems Corporation, in Cablevision’s $17.7 billion sale to Altice.
    • Canada Pension Plan Investment Board in its $12 billion acquisition of GE Capital’s sponsor lending business, including Antares Capital, the leading lender to middle market private equity sponsors in the U.S.
    • Verizon Communications in the $10.54 billion sale of its local wireline operations in California, Florida and Texas to Frontier Communications.
    • Protective Life in its $5.7 billion merger with a subsidiary of Dai-ichi Life, a life insurance company listed on the Tokyo stock exchange.
    • TIAA-CREF in its $6.25 billion acquisition of Nuveen Investments.
    • Uralkali in its $8.1 billion merger with Silvinit.
    • Clayton, Dubilier & Rice and US Foods in the $8.2 billion merger of US Foods with Sysco Corporation. (Terminated)
    • The Special Committee of the Board of Directors of Dell in the $24.9 billion sale of Dell to an investor group including Michael Dell and Silver Lake.
    • The Carlyle Group in its $3.3 billion acquisition of Getty Images.
    • Access Industries in its $3.3 billion acquisition of Warner Music Group.
    • KazakhGold Group Limited in a reverse takeover of Polyus Gold valued at $10 billion.
    • Bain Capital, The Carlyle Group and Clayton, Dubilier & Rice in their $8.5 billion acquisition of HD Supply from The Home Depot, which Private Equity Analyst named LBO Deal of the Year.
    • American International Group in its $6 billion sale of a portion of its controlling stake in AIA Group.
    • General Electric and NBC in their acquisition of Vivendi Universal Entertainment and formation of NBC Universal, a $43 billion broadcast, cable, studio, film and diversified entertainment company owned 20% by Vivendi and 80% by General Electric.
    • Verizon Wireless in its $28.1 billion acquisition of Alltel Corporation.