Keith Ahlgren
PEOPLE

Keith Ahlgren

Partner
ahlgren.keith@dorsey.com

Overview

Keith advises clients on complex mergers, acquisitions, and divestitures across a broad range of industries, including food, beverage, and agribusiness; chemicals, construction, and manufacturing; retail; technology; finance and financial institutions; and healthcare and medical devices.
Keith partners with private equity firms and strategic buyers and sellers in M&A transactions, as well as family- and founder-owned businesses in connection with transition and exit planning. His practice also encompasses representing issuers and investors in offerings of debt, equity, convertible, and hybrid securities, as well as other financing transactions. He regularly counsels clients on corporate governance and a wide range of strategic matters.

Education & Admissions

St. John's University (B.A., Mathematics, Communication, 2011)

University of Minnesota Law School (J.D., 2014), magna cum laude, Business Law Concentration

Admissions

  • Minnesota

Experience

Representative Matters

  • Represented KUIU, a direct-to-consumer retailer of hunting gear and apparel, in connection with its sale to an investor group comprised of conservation-minded families and businesses. 
  • Represented Chartwell Financial Advisory, Inc., a premier provider of valuation, consulting, and corporate finance advisory services, in a transaction with Keystone Capital Management, L.P.
  • Represented Main Post Partners, a private equity firm, in connection with its investment in Smoothie King.
  • Represented ECC Exteriors, LLC, a leading construction and renovation company, in a transaction with Bow River Capital.
  • Represented a subsidiary of Orkla Food Ingredients (OSE: ORK), in its acquisition of a majority of the equity interests of Denali Ingredients, an ingredients manufacturer serving the ice cream, novelty, fluid dairy, bakery, and food service markets.
  • Represented TAK Communications Inc., a national provider of communications and broadband infrastructure services, in a transaction with Platinum Equity.
  • Represented a large agricultural cooperative in a divestiture of a material business unit.
  • Represented a premier multinational investment bank and financial services company in connection with the delivery and issuance of fairness opinions in numerous matters.
  • Represented the special committee of the Board of Directors of an ESOP-owned manufacturer of consumer products in a robust auction process and successful sale to a strategic buyer.
  • Represented Cardiovascular Systems, Inc. (Nasdaq: CSII) in its sale to Abbott Laboratories for $890 million.
  • Represented the special committee of the Board of Directors of Instapage Inc., a developer of a landing page design tool, in connection with the sale of Instapage to airSlate, Inc. 
  • Represented a private-equity consortium as local Minnesota counsel in its $6.2 billion acquisition of ALLETE, Inc., a publicly traded energy company.
  • Represented Sequel Holdings LP, a private equity firm, in its acquisition of Mrs. Gerry’s Kitchen, a manufacturer and distributor of premium salads and side dishes.
  • Represented Sequel Holdings LP, a private equity firm, in its sale of its portfolio company - Lakeview Farms.
  • Represented Sequel Holdings LP, a private equity firm, in its sale of its portfolio company - J&J Produce.
  • Represented Respicardia, Inc, a leader in innovative technologies that address central sleep apnea, in its sale to Zoll Medical Corporation.
  • Represented Optum in certain acquisitions of physician practices.
  • Represented Heartland Financial USA, Inc. in its acquisition of Signature Bancshares, Inc.*
  • Represented Heartland Financial USA, Inc. in its acquisition of Blue Valley Ban Corp.*
  • Represented Heartland Financial USA, Inc. in its acquisition of certain assets and liabilities of Rockford Bank and Trust Company.*
  • Represented KleinBank in its sale to Old National Bank for $433 million.
  • Represented Glacial Lakes Energy, a privately held renewable energy ethanol production facility, in the purchase of substantially all of the assets of Advanced Bioenergy, LLC.

*Heartland Financial USA, Inc. (Nasdaq: HTLF) was acquired by UMB Financial Corporation in 2025.

Industries & Practices

Banking & Financial Institutions
Healthcare & Life Sciences
Bankruptcy & Financial Restructuring
Food, Beverage & Agribusiness
Energy & Natural Resources
Lending Transactions
Mergers & Acquisitions
  • Banking & Financial Institutions
  • Bankruptcy & Financial Restructuring
  • Capital Markets
  • Emerging Companies
  • Energy & Natural Resources
  • Food, Beverage & Agribusiness
  • Healthcare & Life Sciences
  • Lending Transactions
  • Mergers & Acquisitions
  • Public Finance
  • Tax
  • Technology

Accolades

Diversity Inclusion Recognition 2023North Star Lawyer

  • Minnesota Monthly, “Top Lawyers in Minnesota,” 2026
  • Minnesota Super Lawyers®, "Rising Stars," 2024
  • Contributed more than 50+ Diversity hours, 2023
  • MSBA, North Star Lawyer, 2019
Keith Ahlgren