Private Equity
Private equity, venture capital funds and other private investors depend on proactive counsel on all aspects of the investment cycle. Our team gives you actionable advice to tackle questions on transactions in a diverse array of industries.
Alston & Bird has an active and highly regarded team of lawyers who specialize in assisting private equity clients with all their transactional needs. We represent private equity and venture capital funds and other private investors in all aspects of the investment cycle, including fund formation, early-stage venture capital investments, later-stage growth financings, going-private transactions, leveraged buyouts, and recapitalizations. We also represent the portfolio companies of our private equity clients in a wide range of transactions, including add-on acquisitions, dispositions, recapitalizations, and financings.
Experience
Our private equity attorneys have extensive experience in developing strategies for structuring and implementing acquisitions and investments that are both innovative and practical. In addition to our corporate capabilities, our practice integrates lawyers who concentrate in private equity finance, tax, executive compensation, ERISA, labor, intellectual property, real estate, and environmental law to provide our clients with comprehensive advice to address the multitude of issues that arise in today’s corporate transactions.
Our private equity practice is national in scope, consisting of lawyers regularly recognized in the legal industry, including in The Best Lawyers in America and Chambers. LSEG ranked Alston & Bird in the top 10 and top 15 as a “Global Private Equity and Venture Capital Legal Advisor, advisors to company” for LBO & related rounds and for all private equity stages, respectively, based on number of rounds in the first quarter of 2023.
- Represented the Technology Buyout Group of The Carlyle Group in certain of its private equity investments, including:
- The $3.9 billion acquisition of CommScope Inc., a global leader in infrastructure solutions for communications networks. Subsequently represented CommScope Holding Company Inc. in its $3 billion purchase of TE Connectivity’s Broadband Network Solutions unit, consisting of telecom, enterprise, and wireless businesses.
- The $7.4 billion acquisition of Veritas Technologies, a data storage company, from Symantec.
- Acquisition of the ARM-based microprocessor business of MACOM Technology Solutions Holdings Inc. that MACOM purchased from AppliedMicro.
- Acquisition and subsequent sale of Open Link Financial, a provider of investment and financial management software and related services focused exclusively on the financial services industry, to Hellman & Friedman.
- Substantial investment in ProKarma, an enterprise IT solutions company.
- Represented The Gores Group in certain of its private equity transactions, including
- Acquisition of Therakos Inc. from Ortho Clinical Diagnostics Inc., a subsidiary of Johnson & Johnson.
- Formation of Elo Touch Solutions following its acquisition of TE Connectivity’s Touch Solutions business for $380 million.
- Acquisition of Alpheus Communications L.P., one of the largest fiber network and data center operators in Texas, and the subsequent sale of Alpheus to LOGIX Communications.
- Disposition of the 36 cable systems that we helped its portfolio company, Cobridge Communications, acquire from Charter Communications.
- Purchase of assets from StratITsphere Solutions LLC, a provider of co-location and data center services.
- Represented Pamlico Capital (formerly Wachovia Capital Partners) in its investment activities and portfolio company management, including the formation of Lightower Fiber Networks through the purchase of fiber assets from National Grid in 2007, numerous subsequent add-on acquisitions, sale of Pamlico’s controlling interest for $1.4 billion to a group led by Berkshire Partners, and ultimate sale of Pamlico’s remaining interest in connection with Lightower’s pending acquisition by Crown Castle for $7.1 billion. Other engagements for Pamlico include:
- Acquisition of PrizeLogic, a developer of digital promotions for large consumer brands and retailers.
- Leveraged acquisitions and subsequent sales of Physicians Endoscopy to Kelso & Company.
- Equity investment in T2 Systems Inc., a leading provider of SaaS software to the parking industry, and its subsequent sale to Thoma Bravo.
- Formation of Southern California fiber network provider Wilcon, subsequent add-on acquisitions, and sale to Crown Castle for $600 million.
- Leveraged acquisitions and recapitalizations of a number of their portfolio companies, including HEALTHCAREfirst, Valued Relationships Inc., Securadyne Systems, Secure-24 Inc., TekLinks Inc., HOSTING, ATX Networks, and World 50.
- Acquisition and subsequent disposition of a substantial minority equity position in Greenway Medical Technologies and DayNine.
- Investment in and subsequent sale of American Renal Associates to Centerbridge Partners for approximately $415 million.
- Represented Ridgemont Equity Partners, the former Banc of America Capital Investors private equity team spun off from Bank of America in 2010, in certain of its private equity investment activities and portfolio company management, including:
- Leveraged acquisitions of Unite Private Networks (UPN) and AccentHealth; subsequently represented UPN in its sale to an affiliate of Cox Communications Inc., with a substantial sponsor and management roll, and represented the owners of AccentHealth (including Ridgemont and MC Ventures) in AccentHealth’s sale to ContextMedia.
- Leveraged acquisition of Abrasive Products & Equipment, a value-added specialty distributor, and Simpleview, the leading provider of software and digital marketing services to destination marketing organizations.
- Acquisition of Dickinson Fleet Management Services LLC, a provider of mobile fleet maintenance and repair services.
Highlights
Alston & Bird Represents CommScope in Sale of Outdoor Wireless Networks and Distributed Antenna Systems Businesses to Amphenol
Alston & Bird advised CommScope, a global leader in network connectivity, on the $2.1 billion sale of its outdoor wireless networks segment and its networking, intelligent cellular & security solutions segment’s distributed antenna systems business unit to Amphenol Corporation, a leading provider of high-technology interconnect, sensor, and antenna solutions. The all-cash transaction is expected to be completed within the first half of 2025, subject to customary closing conditions.
Alston & Bird Enhances Mergers & Acquisitions Practice with New York Partner
Alston & Bird has further strengthened its mergers and acquisitions practice by adding partner David L. Shaw to the firm’s New York office. David guides public and private companies through complex business transactions and general corporate matters. He advises on a variety of transactions, including private equity, mergers and acquisitions, dispositions, and majority and minority investments.
Alston & Bird Expands Its M&A Practice By Adding Partner Peter Fritz in Charlotte
Alston & Bird has further enhanced its Private Equity Team and mergers and acquisitions offerings with the addition of partner Peter Fritz to the firm’s Charlotte office.
Alston & Bird Represents Veritas in the Sale of its Data Protection Business to Cohesity
Alston & Bird represented Veritas, a leader in secure multi-cloud data management, in the sale of its data protection business to San Jose, California-based Cohesity, a leader in AI-powered data security and management. The transaction values the combined company at approximately $7 billion.
Private Equity