Each private equity investment presents unique opportunities and challenges. With decades of private equity experience all over the world, we take a practical and creative approach to structuring and completing each transaction, focusing on the solutions needed to help clients accomplish their goals. We also guide private equity sponsors on compliance matters and with the management and operations of their portfolio companies.
We leverage resources to help clients get the deal done using our ‘one world – one team’ approach. We provide clients with firm-wide expertise, experience and knowledge of the latest industry developments from our mergers and acquisitions, finance, tax and fund formation attorneys in offices around the world. Clients can also count on support from a broad base of our deal-oriented lawyers in relevant legal areas, including taxation, environmental, executive compensation, intellectual property, antitrust, bankruptcy and real estate law.
That’s why financial sponsors (buyout funds, mezzanine funds, hedge funds, banks, pension funds, funds of funds, family offices and high net worth individuals), their portfolio companies, management groups, lenders, financial advisors and other parties count on us for their private equity-related needs, again and again.
- Fund formation, investments, compliance and advisory
- M&A/Portfolio investments
- Equity financings
- Mezzanine financings
- Leveraged buyouts
- Distressed investment scenarios
- Portfolio company management and representation
Private Equity Portfolio Investments/Acquisitions
Dorsey has substantial national and international experience in handling all aspects of equity sponsor-related work on behalf of sponsors, portfolio companies, and management groups including:
- Lee Equity Partners, in connection with various individual portfolio company investments
- Serent Capital, in connection with portfolio management and various individual portfolio company investments
- Management team for Motor Fuel Group in the buyout by Clayton, Dubilier & Rice
- A NY-based family office, in connection with various investments in the hospitality space
- A Florida-based family office, in connection with various investments in the agricultural industry
- A Houston-based family office, in connection with investments in the consumer goods industry
- TA Associates, in connection with individual European portfolio company investment matters
- Certain portfolio companies of Living Bridge Equity Partners, with respect to their U.S. operations
- Cross Creek Capital, a Salt Lake City-based private equity fund with $500M under management, with respect to various late stage venture capital investments
- Wasatch Advisors, a Salt Lake City-based money manager with $19B under management, with respect to various private equity investments
- Leavitt Equity Partners, a Salt Lake City-based private equity fund, with respect to investments in middle market transactions
- Healthcare Partners, an Oregon-based private equity fund, with respect to various healthcare investments
Dorsey‘s lending practice regularly represents major national banks in connection with their sponsor financing activities, including:
- Senior credit facility to finance the acquisition of a company engaged in flood check and title insurance diligence reporting on the West Coast
- Senior credit facility to finance the add-on acquisition of plastic injection molding companies on the East and West Coast and the refinancing of existing senior indebtedness of an existing plastic injection molding company in the Midwest
- Syndicated senior credit facility to refinance senior debt and equity recapitalization of a wire manufacturer in the Upper Midwest
- Syndicated, multi-currency senior credit facility to finance the rolling up of two multi-national manufacturer of truck parts and supplies
- Senior credit facility to finance the acquisition of an international distributor of furniture fabric and textiles
- Senior credit facility to finance the acquisition of a manufacturer of publishing software and subsequent additional $20,000,000 facility to finance add-on acquisition
Private Equity Borrower-Side Representations
Dorsey regularly represents portfolio companies of private equity sponsors as borrowers in leveraged financings, mezzanine financings, and debt restructuring work, including:
- Minority equity investment in a company operating a global customer survey platform and advising the company on the refinancing of its senior debt facilities
- Add-on acquisition of data processing facilities in Texas and the refinancing of existing indebtedness, including first-and second-lien financings and preferred stock financing
- Refinancings of existing senior indebtedness for operating data center sites in the Western U.S.
- Acquisition of a chain of clinical trial drug-testing facilities in the Central U.S., including senior debt facilities and a subordinated debt facility
- Acquisition of the rail-car cleaning division of a multi-national company, including senior debt facilities and a subordinated debt facility
- Cross-border refinancing of the senior debt facilities of a portfolio company engaged in the development of orthopedic medical devices
Dorsey has handled numerous mezzanine investments for financial sponsor clients across the middle market, including:
- Senior subordinated credit facility and equity co-investment in favor of a manufacturer of magnets and engine components
- Senior subordinated credit facility and detached equity co-investment in favor of a network of physical therapy clinics on the Eastern Coast
- Senior subordinated credit facility with warrants to purchase equity interests in favor of a national catalog seller of pool supplies and equipment
- Senior subordinated loan and attached warrants to purchase equity interests in favor of a telecommunication and computer network consulting company
- Senior subordinated loan and equity co-investment in railcar maintenance company.
- Syndicated subordinated credit facility consisting of a second lien term loan and a third lien term loan in favor of a waste hauler on the Eastern Coast
- Acquisition of effective control of two portfolio companies to which it previously had made senior and mezzanine loans
Fund Formation and Fund Investment Reviews
- Dorsey regularly handles on-and off-shore fund formation matters, including domestic and international tax structuring advice.
- Dorsey lawyers advise fund managers and sponsors in connection with the formation, capitalization and operation of buyout, real estate, venture, debt, special opportunity, hedge and other funds.
- Dorsey lawyers address a broad spectrum of 1940 Act regulatory/compliance matters; mergers and acquisitions; broker-dealer, adviser, FINRA and blue sky regulatory/compliance matters and tax, ERISA and derivatives issues.
- Dorsey also has extensive experience representing individual and institutional investors in connection with their investments in funds, including banks, endowments, insurance companies and fund of funds.
Industries & Practices
- Bankruptcy & Financial Restructuring
- Capital Markets
- Closely Held Businesses
- Corporate Governance & Compliance
- Emerging Companies
- Investment Funds
- Labor & Employment
- Mergers & Acquisitions