Ropes & Gray Private Equity Attorneys Achieve Significant First Quarter Deals
Ropes & Gray’s award-winning private equity industry group advised clients on a series of large and sophisticated transactions in the first quarter, a breadth of deals that showcases the outstanding work of skilled and experienced attorneys based in 12 offices around the world.
In the first quarter, Ropes & Gray signed 52 private equity-backed deals valued at roughly $33 billion including 19 middle-market transactions valued at $6 billion.
Ropes & Gray is a preeminent law firm for market-leading private equity sponsors, investors and companies executing ambitious and complex transactions. The firm was named “Technology Group of the Year” for 2021 by Law360 in recognition for its work on behalf of PE clients investing in software, life sciences and health care technology, consumer hardware, semiconductors, digital platforms and fintech.
During the first quarter, Ropes & Gray’s private equity industry group advised:
- Genstar Capital in its investment in Lightspeed Systems, in partnership with Madison Dearborn Partners.
- Berkshire Partners in its investment in Ensemble Health Partners, in partnership with Warburg Pincus.
- TPG Capital in the $4.3 billion sale of Wind River, a software company, to Aptiv PLC.
- New Mountain Capital in the sale of Cloudmed to R1 RCM, Inc., a transaction that values Cloudmed at approximately $4.1 billion.
- Welsh Carson Anderson & Stowe and portfolio company Valtruis in the three-way merger of Fresenius Health Partners, InterWell Health and Cricket Health, in a transactions valued at $2.4 billion, creating a U.S. kidney care provider operating as InterWell Health.
- Thomas H. Lee Partners in its acquisition of Intelligent Medical Objects, a healthcare data enablement provider, from Warburg Pincus.
- TPG Capital in closing its sale, valued at $14 billion, of McAfee Corp. to a consortium led by Advent International and Permira Advisers and Crosspoint Capital.
“Ropes & Gray picked up in the first quarter at much the same pace that characterized the firm’s record breaking performance in 2021,” said David Blittner, co-chair of Ropes & Gray's private equity transactions group. “Our private equity attorneys are representing a larger and more diverse group of clients investing in a wider assortment of sectors than ever before.”
In 2021, Ropes & Gray lawyers advised on more than 220 private equity deals valued at more than $200 billion eclipsing its own record set in 2020 of more than 190 transactions valued at $140 billion. Ropes & Gray rose to 3rd place in Mergermarket’s 2021 U.S. league tables for private equity buyouts by value, and retained its 3rd place ranking for buyouts by deal count.
“The firm’s continued growth is testament to the strong client relationships which our attorneys continue to build with private equity clients both in the U.S. and around the world,” said Carolyn Vardi, head of the firm’s private equity industry group. “Ropes & Gray is on the cutting edge of private equity-backed transactional work.”
Ropes & Gray leverages its cross-practice and cross-office teams located throughout the U.S., Europe and Asia to provide clients with sophisticated advice on transactions throughout the lifecycle of business and companies. The firm was named Transatlantic Firm of the Year at The British Legal Awards 2021 in recognition for the size and scale of its work in Europe.