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Ropes & Gray Leads the Way on Three of the Largest Private Equity Transactions in 2009
Transactions on Three Continents Demonstrate Growing International Prominence
November 20, 2009
New York (November 20, 2009) – Ropes & Gray LLP has recently advised on three of the largest leveraged acquisitions in 2009, valued at more than $11 billion, which took place on three continents. First, long-term client Bain Capital acquired Bellsystem24, the leading call center operator in Japan, in the largest buyout by a foreign private equity firm in Japan in nearly two years. Second, in the largest LBO to date in 2009, Ropes & Gray represented TPG Capital and the Canadian Pension Plan (CPP) Investment Board in their $5.2 billion acquisition of IMS Health Inc., a leading provider of market intelligence to the pharmaceutical and healthcare industries. Finally, Ropes & Gray advised Liberty Global Inc. in connection with a 2.6 billion Euro high yield offering to finance the acquisition of Unity Media, a German-based provider of broadband Internet, telephone and digital TV.
“These distinctly different deals demonstrate our ability to provide expert legal counsel to clients in sophisticated and complex transactions around the world,” said Alfred O. Rose, a partner in the Boston office and head of the firm’s private equity practice. “As we continue to expand our presence internationally, we expect to offer the same outstanding level of service to new clients.”
A cross-office team of Ropes & Gray lawyers represented Bain Capital on the $1.1 billion Bellsystem24 transaction in Japan, including Tokyo partner Tsuyoshi Imai, Hong Kong partner Alison Bomberg and U.S. partners Newcomb Stillwell and Sunil Savkar.
In the U.S., the Ropes & Gray team representing TPG and the investment board of CCP in their $5.2 billion acquisition of IMS Health included Alfred O. Rose and Amanda McGrady Morrison on the acquisition, Byung Choi and Michael Lee on debt, and Christopher M. Leich on tax.
The firm’s recently established London office led the European financing for Liberty Global’s $5.2 billion acquisition of Unity Media, the second largest high yield offering in London and the largest private equity exit in Europe this year. The debt team included Maurice Allen, Michael Goetz, and Jonathan Bloom of the London office; Jay Kim in New York; and Craig E. Marcus and W. Jane Rogers in Boston. “Liberty Global has turned to the high-yield bond market to buy Unity Media in the first major European deal where high-yield bonds have usurped bank loans to fund an acquisition," said Allen.
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