Eversheds Sutherland advises Cox Communications on acquisition

Eversheds Sutherland is pleased to announce that it represented client Cox Communications, the largest private telecom company in America, in entering into a definitive agreement to acquire Charlotte-based Segra, one of the largest privately held fibre infrastructure providers in the United States.

Under the terms, Cox will acquire Segra’s commercial services segment, which is a leading super-regional, fibre-based provider serving commercial enterprise and carrier customers in nine states in the Mid-Atlantic and Southeast. The company’s dense metropolitan fibre network provides enhanced technology solutions and a commitment to a superior customer experience.

As part of the transaction, EQT Infrastructure will retain ownership of Segra’s fiber-to-the-premise (FTTP) residential and small- to medium-sized business segment in Virginia and North Carolina and accelerate the plan to expand broadband services to neighbourhoods and markets throughout their regions. The transaction is subject to customary regulatory approvals and closing conditions.

Corporate Partners David S. Phillips and Matthew Block led the Eversheds Sutherland team, which included Partners Michael A. Hepburn, M. Hill Jeffries, Taylor Kiessig, Meredith O’Leary, Jeremy D. Spier, Kristina Kopf Thomas, Counsel Aaron Moody, Staff Attorney Bonnie R. Burke, and Associates Robert R. Christoffel, Kristin W. Cleare, Jazmen B. Howard, Caitlin G. Naylor, Mary Kate Nicholson, William D. Ponder, Alexander F. L. Sand, and Laura A. Taylor.

About Eversheds Sutherland’s Corporate Practice

With more than 700 attorneys worldwide, Eversheds Sutherland’s global mergers and acquisitions team provides pragmatic advice and comprehensive support that enables clients to evaluate, structure and complete transactions across a broad spectrum of industries.

The team combines decades of experience with in-depth knowledge of local and cross-border practices. Wherever the transaction is led from, we provide a seamless and integrated worldwide service.

Our attorneys are well versed in the unique requirements of mergers, tender offers, stock and asset acquisitions, corporate restructurings, spin-offs, recapitalisations and other deal structures. We negotiate and establish alliances, joint ventures and other partnering relationships. In addition, we develop innovative approaches to implement other tailored commercial relationships.

Our global M&A team advises clients across a broad range of sectors including financial services, insurance, payment systems, technology, communications, energy, industrials, consumer products, professional services, health care and eCommerce. We understand regulatory frameworks and the impact on transactions of the key issues that affect your business. This in-depth sector knowledge allows us to add real value to the M&A process.

DLA Piper advises Cofense in acquisition of Cyberfish

DLA Piper represented Cofense, the leading provider of phishing detection and response (PDR) solutions, in its recent acquisition of Cyberfish, a provider of next-generation phishing protection powered by Computer Vision and advanced machine learning technology.

By integrating innovative machine learning capabilities from Cyberfish with Cofense’s detection and response technology, Cofense will bring to market a holistic, advanced automation solution for email protection, detection and response.

“We were thrilled to partner with Cofense, bringing our extensive cybersecurity and technology sector M&A experience to advise on its acquisition of Cyberfish,” said Marc Samuel, the DLA Piper partner who led the deal team. “This successful transaction will enable Cofense to continue developing transformative solutions to address issues of phishing and email security through advanced artificial intelligence and automation.”

In addition to Samuel (Washington, DC), the DLA Piper deal team was led by Shirley Qin (Washington, DC).

With more than 1000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket.

Kirkland Advises InPost S.A. on Proposed Acquisition of Mondial Relay

Kirkland & Ellis is advising InPost S.A., the Polish parcel locker firm formerly backed by Advent International Corp. and recently listed on Euronext Amsterdam, on its proposed acquisition of 100% of the shares of Mondial Relay, the leading French eCommerce out-of-home parcel delivery platform, from Otto Group for approximately EUR 565 million. The proposed acquisition would allow InPost to take a major step in its ambition to become Europe’s leading out-of-home solution for eCommerce.

The proposed transaction remains subject to the completion of the consultation of Mondial Relay’s employee representative body and the obtaining of certain regulatory clearances.

The Kirkland team was led by transactional partner Laurent Victor-Michel and associate Louis Gosset; tax partner Nadine Gelli and associate Sonia Bouaffassa; antitrust and competition partner Matthew Sinclair-Thomson and associates Shahrzad Sadjadi and Samantha Hobson-Jones; technology & IP transactions associates John Patten and Ben Zeris; with additional support from transactional partner Adrian Maguire, Ben Leyendecker and associate Sebastian Haefele.

Read InPost’s Press Release

Eversheds Sutherland advises Element Markets in recent acquisition

Eversheds Sutherland is pleased to announce that it represented client Element Markets, the leading independent marketer of renewable natural gas (“RNG”) and environmental commodities in North America, in a majority interest sale to The Rise Fund, a global impact investing platform managed by alternative asset firm TPG.

The acquisition of Element Markets represents The Rise Fund’s second investment in the climate transformation and renewable energy space within the past six months.

“We would like to thank Ram and the entire Eversheds Sutherland team for helping us navigate this highly complex, transformative transaction and for consistently providing excellent service throughout the fast-paced process,” said Randall Lack, Founder & Co-President of Element Markets.

Partner Ram C. Sunkara led the Eversheds Sutherland team with assistance from Partners Vlad M. Bulkin, Peter A. Fozzard, Michael A. Hepburn, M. Hill Jeffries, Susan G. Lafferty, Lance J. Phillips, Amish M. Shah, William E. Sheumaker, Michael J. Voynich, Scott Wright, Counsel Jackson M. Allen, Ronnie Dabbasi, Graham R. Green and Associates Maximillian R. Licona, Michael M. Petrov, and Kathryn V. Wymer.

Founded in 2005, Houston-based Element Markets uses differentiated environmental and market expertise to play a leading role in markets for low carbon fuel standard (“LCFS”) credits, renewable identification numbers (“RINs”), emission credits, and carbon credits.

Element Markets is a leading provider of greenhouse gas reductions via offsets and renewable natural gas to several Fortune 100 companies. The company has transacted over 50,000,000 tonnes of greenhouse gas credits and represents over 20% of the North American RNG to transportation market and is the primary cellulosic (D3) RIN supplier to two of the largest US refiners. By working with clients to find a cost-effective approach to environmental compliance, Element Markets has also become the largest regional marketer of emission credits in the United States.

Kirkland advises Vista Equity Partners in $3.5 billion acquisition

Kirkland & Ellis represents Vista Equity Partners, a global investment firm focused on enterprise software, data and technology-enabled businesses, which announced today a definitive agreement to acquire Pluralsight, Inc. (NASDAQ: PS), the technology workforce development company. Under the terms of the agreement, Vista, in partnership with its institutional co-investors including Partners Group, will acquire all outstanding shares of Pluralsight common stock in an all-cash transaction valued at approximately $3.5 billion.

The transaction is expected to close in the first half of 2021, subject to customary closing conditions, including approval by Pluralsight shareholders and receipt of regulatory approvals. Upon completion of the transaction, Pluralsight will become a privately held company and shares of Pluralsight common stock will no longer be listed on any public market.

The Kirkland team was led by transactional partners David Klein, Daniel Wolf, Stuart Casillas, Nathan Davis and James Beach, along with transactional partner Jean Lee and associates Nick Howe and Katherine Schloss Ackerman, debt finance partners Sonali Jindal and Douglas Tedeschi, tax partners David Kung and Heidi Yuen, executive compensation partner Mike Krasnovsky and associate Laura Gallo, and capital markets partner Robert Goedert.

Click here to read full press release.

Kirkland counsels Clearlake on decision to acquire Dimora Brands

Clearlake Capital Group, L.P. (together with certain of its affiliates, “Clearlake”) today announced it has signed a definitive agreement to acquire TKE Holdings, Inc., dba Dimora Brands (“Dimora Brands” or the “Company”), a leading provider of branded specialty hardware and home accessories, from affiliates of The Jordan Company. Financial terms of the transaction were not disclosed.

Dimora Brands, a Dallas-based designer, manufacturer and seller of high-end hardware and home accessories, was created in 2010 by the merger of Top Knobs and Hardware Resources. Since then, the Company has become an industry leader by delivering a premium product offering that appeals to a diverse set of aesthetic styles and price points. Dimora Brands achieved its strong reputation through consistent successful launches of new kitchen and bath decorative and functional products, as well as through acquisitions of other leading companies with complementary product lines. Underlying the Company’s significant track record of excellence is a robust logistics operation that delivers over 29,000 SKUs across the United States.

“We are excited to partner with Clearlake and are thankful for The Jordan Company’s support over the last four years,” said Greg Gottlieb, CEO, Dimora Brands. “Our robust operating model and sourcing infrastructure have positioned Dimora Brands to become the leading provider of specialty hardware and home accessories. We believe that Clearlake’s deep experience in building products distribution and operational insights will advance the Company into its next chapter of continued success.”

“We are thrilled to back Dimora Brands and leverage our significant experience investing in building products,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, Clearlake. “We are confident that the Company is well-positioned to capitalise on the strong momentum in home improvement spend and remodelling activity. We look forward to leveraging our O.P.S.® framework in partnership with management to accelerate Dimora Brands’ organic growth plans and continue executing a consolidation strategy in this highly fragmented market.”

The Company was advised by Baird, and Clearlake was advised by Deutsche Bank.