Ropes & Gray Advises Cinven in its Acquisition of TaxAct for Approximately $720 Million
Ropes & Gray advised Cinven in its acquisition of TaxAct for approximately $720 million. After the transaction closes, Cinven will bring the business together with existing portfolio company Drake Software under a single holding company. The transaction is expected to close before the end of 2022. The announcement was made public on Nov. 1 in a press release.
TaxAct is a providers of digital, do-it-yourself tax filing assistance software and services, operating in a fast growing subset of the U.S. tax preparation services market. Cinven is a leading international private equity firm focused on building world-class global and European companies.
The Ropes & Gray team was led by mergers & acquisitions partners Sarah Young and Christopher Comeau, and included litigation & enforcement partners Jonathan Klarfeld and David Hennes, benefits partners Alexandra Alperovich and Megan Bisk, benefits & executive compensation partner Danna Kivell, data, privacy & cybersecurity partner Edward McNicholas, tax partners Pamela Glazier and Benjamin Rogers, antitrust partner Annie Herdman and mergers & acquisitions counsel Thomas Burke.