Matt Richards is a partner in Ropes & Gray’s private equity transactions group in Chicago. He is a versatile practitioner who represents clients in a diverse spectrum of transactions and industries. The breadth of his practice enables him to bring an exceptionally well-informed perspective to transactional matters.
Matt principally advises private equity funds, their portfolio companies, large family offices, and private and public companies on a variety of complex transactions. His work encompasses large-cap and middle-market leveraged acquisitions, growth equity and venture financings, sales and other dispositions, restructuring transactions, and strategic acquisitions. Beyond transactions, he advises clients on governance, risk management, management compensation and equity arrangements, and compliance matters.
Clients particularly appreciate Matt’s ability to assess the complexities of a transaction and find a way forward that works for all parties. “He is able to balance the legal risks with the business objective of getting the transaction done,” notes Chambers. “He’s a pragmatic and responsive attorney.”
Matt’s creative problem-solving has benefited clients in a wide variety of industries, including telecommunications, life sciences, software, business services, consumer products, manufacturing, and distribution. He has particularly extensive experience with financial services transactions, including those involving insurance brokers, broker-dealers, advisers to registered and unregistered funds, and other asset managers.
Experience
Matt’s experience includes representing:
- Advent International in its acquisitions of Genoa, Ansira Partners, Walmart Brazil, AccentCare, Aimbridge Hospitality, NielsenIQ (formerly Nielsen Global Connect), the BioPharma Solutions business of Baxter, PatientPoint, and Heidrick & Struggles; its minority investment in Fisher Investments; Aimbridge Hospitality’s acquisition of Interstate Hotels & Resorts; the combination of NielsenIQ with GfK; and the sale of Grupo CRM to Nestle.
- Gauge Capital in its acquisitions of Wireless Vision, Infosoft (n/k/a Circa), Miami Beach Medical Group, TVC Enterprises, Irth Solutions, Sago (formerly Schlesinger Group), NINJIO, Centegix, 7 Mindsets, Exigo, Exact Customer, Streamline Healthcare Solutions, Loving Tan, Engine Transmission & Exchange, Craftable, AGT Robotics, Commercial Fire Protection, APHIX, Ecosystems, and Affordable American Insurance; numerous subsequent add-on transactions by Gauge Capital portfolio companies; and several sale transactions, including Teachers of Tomorrow to TPG Capital’s Rise Fund, Irth Solutions to Blackstone Energy Partners, Circa to Mitratech, TVC to Love’s, eDynamic Learning to Pearson, and Centegix to Charlesbank.
- CIVC Partners in its acquisitions of KPA Services, Magna Legal Services, Specialized Elevator Services, Crest Insurance Group, Young & Associates, 829 Studios, Continuum Companies, Allata, Industrial Networking Solutions, Strategus, Cary Street Partners, Elite Interactive Solutions, and Nationwide Legal; its significant minority investment in Signers National; numerous subsequent add-on transactions by CIVC portfolio companies; and several sale transactions, including the sale of Young & Associates to THL Capital, Specialized Elevator Services to 3Phase Elevator, Magna Legal Services to Odyssey Investment Partners, KPA Services to Providence Equity Partners, and 829 Studios to AEA.
- Sixth Street in its Series D investment in Caris and its Series C investment in ConcertAI.
- Madison Dearborn Partners in its acquisitions of National Financial Partners and Multi Packaging Solutions; the combination of Multi Packaging Solutions with Chesapeake; and the subsequent sale of Multi Packaging Solutions to WestRock.
- Bain Capital and Blackstone in their sale of Weather Group to Entertainment Studios.
- Fisk Ventures, Quadrant Capital Advisors, and Profile Capital, among other family offices, in several leveraged acquisitions and venture and growth equity transactions.
Financial Services Transactions
Matt has represented several financial services providers in key strategic transactions, including:
- National Financial Partners (NFP) in connection with the sale of its advisory services business to Stone Point Capital; a significant minority investment in NFP by HPS Investment Partners; multiple other financing transactions; and the $13.4 billion sale of NFP to Aon.
- Acadian Asset Management (formerly BrightSphere Investment Group) in connection with its dispositions of Barrow, Hanley, Mewhinney & Strauss; Copper Rock Capital; Investment Counselors of Maryland; Landmark Partners; Thompson, Siegel & Walmsley; and Campbell Global.
- iCapital in connection with its acquisitions of the HedgeFocus business of Credit Suisse, the U.S. Private Equity Access Fund Platform of Deutsche Bank, Bank of America’s AI feeder funds business, and Morgan Stanley’s alternative feeder funds business.