Ropes & Gray Represents HBC in its Partnership with Insight Partners to Establish Saks OFF 5th as Standalone Digital Business
Ropes & Gray represented HBC in its partnership with Insight Partners to establish Saks OFF 5th as standalone digital business, valuing the company at approximately $1 billion. The deal was announced on June 21. The press release is here.
HBC, a holding company of investments and businesses at the intersection of technology, retail operations and real estate, is the majority owner of Saks and Saks OFF 5TH. Insight Partners is a leading global venture capital and private equity firm that has raised more than $30 billion in capital commitments.
The Ropes & Gray team that advised HBC was led by private equity partner Jay Freedman (San Francisco), and included mergers & acquisitions partner Matthew Jacobson (San Francisco) and IP transactions partner Edward Black (Boston), tax partner Leo Arnaboldi III (New York), debt finance counsel Milap Patel (Boston), employment, executive compensation & benefits counsel Ellen Sueda (San Francisco), private equity associates Zachary Bland and Monica McKinnon (both of New York), and mergers & acquisitions associate Michael Spera (Boston).