Private Equity & Investment Funds

Overview

With a record number of private equity firms in the marketplace, including numerous new entrants, competition is increasing for available opportunities. A host of regulatory and legislative matters could potentially impact the industry and increase the complexity of structuring and managing funds and their transactions and portfolio companies.

Whether you are a private fund, portfolio company, banking or financial institution, or privately held business, Blank Rome’s private equity attorneys can advise you on structuring and implementing sophisticated acquisition and financing transactions. We apply a multidisciplinary approach using the experience our attorneys have with M&A, tax, ERISA, securities, real estate, intellectual property, international trade, and environmental law that addresses your specific needs. In particular, our team focuses on tax-advantaged structuring for both buyers and sellers in private equity transactions.

How We Can Help

Blank Rome has a long history of working with private equity firms. With backgrounds in business and accounting, and experience at numerous regulatory agencies, including the SEC and the IRS, our attorneys provide a practical, business-minded methodology to solving complex legal issues. We utilize a proactive approach to help our clients structure and implement all types of sophisticated acquisition transactions.

We have strong relationships with financing sources and investment banks, and we can make introductions and facilitate business relationships for our investor and private equity clients.

What Sets Us Apart

2018 U.S. News & World Report—Best Lawyers (Woodward/White, Inc.) national ranks:
- M&A Law: Tier 1
- Corporate Law: Tier 2
2018 U.S. News & World Report—Best Lawyers (Woodward/White, Inc.) regional ranks:
- M&A Law: Tier 1, Pittsburgh; Tier 2, Los Angeles and New York City
- Corporate Law: Tier 1, Philadelphia; Tier 3, Los Angeles
2017 Legal 500 ranks Blank Rome top-tier in M&A Middle Market, and states that the Firm is “extremely active in the purchase, sale, and combination of business entities.”
Chambers USA 2017 ranks Blank Rome for its Corporate/M&A work:
- “a middle-market focused team advising clients on matters including public and private M&A, joint ventures and securities offerings."
- “sophisticated Corporate/M&A practice receives much client praise for its ‘outstanding service and dynamic, entrepreneurial approach.’”
- “(Focusing) in midmarket transactional matters…The group wins widespread praise for its excellent service and ‘strong talented lawyers who respond instantaneously. ‘Sources also admire the practice because it ‘truly values and invests in its relationships with clients’”
Our attorneys are frequent lecturers on M&A matters, and are well-known for “writing the book” on all aspects of valuing and selling businesses and capital formation entitles, such as The Complete Guide to Valuing and Selling your Business by Partner Frederick D. Lipman.

Key Contacts

Related Industries

Experience

AmQuip Corp., one of the nation’s largest providers of industrial crane rentals, sales, and related services, in its acquisition by Bard Capital Group, LLC, a private equity investment firm, and its subsequent sale to Clearlake Capital.
Automated Trading Desk, Inc. (ATD), a Technology Crossover Partners portfolio company, in its sale to Citigroup Inc.
Blue 9 Capital, LLC, a private equity fund that invests in middle market companies, in several transactions, including:
- The purchase of a minority interest in Hirtle Callaghan & Co, a $20 billion Philadelphia-based asset manager specializing in outsourced chief investment officer services.
- The acquisition of an equity interest in Running Subway, LLC, which creates, develops, produces, promotes and operates live theatrical and entertainment-based shows, events, exhibitions and attractions.
- Blue 9 Capital, LLC, an ongoing shareholder in Five Below, the leading retailer of trend-right, extreme-value merchandise to the teen and pre-teen markets, in connection with Advent International’s investment in Five Below.
- Blue 9 HairCare Fund, LP, in an additional equity investment in Sally Hershberger Professional Hair Care, LLC
DecisionOne Corporation, a portfolio company of Cerberus and Highland Capital and a provider of information technology maintenance and support, in connection with its $104 million acquisition by Glodyne Technoserve Inc., the US subsidiary of Glodyne Technoserve Ltd., a technology infrastructure management services company based in Mumbai, India.
Gladstone Investment Corporation (GAIN), a publicly-traded business development company, in several transactions including:
- Cambridge Sound Management, Inc., a portfolio company of Gladstone Investment Corporation, in its acquisition of substantially all of the assets of Dynasound, Inc., a provider of sound masking and speech privacy solutions.
- Its debt and equity investment in The Mountain Corporation. Based in Keene, NH, The Mountain Corporation is a leading provider of premium quality, bold artwear apparel serving a diverse global customer base. Operating out of four primary locations, the Company pioneered a unique mottled dye technique and proprietary screen printing process to build an expansive portfolio of exclusive artwear designs.
- A portfolio company of our client Gladstone Investment Corporation, Acme Cryogenics, Inc., in the sale of the company to private equity Group Graham Partners. Acme Cryogenics, Inc., is a specialist manufacturer and supplier of valves and piping for ultra-cold gases and fluids.
Hand and Stone Franchise Corp., a market-leading franchisor in the massage and facial spa industry, in its acquisition by Levine Leichtman Capital Partners, a Los Angeles-based private equity firm.
Harbour Group Industries Inc., a privately owned, operations focused company based in St. Louis, Mo., and a long-standing Firm client, in several transactions, including:
- Flow Control Enterprises, Inc., in its acquisition of Fox Thermal Instruments, Inc., a California corporation that develops and manufactures thermal mass flow meters.
- Gran Quartz, LP, a portfolio company of our client Harbour Group, in its acquisition of substantially all of the assets of Granite City Tool Company, a distributor of cutting tools, abrasives and ancillary products for the stone cutting and monument industries. Gran Quartz is the country’s largest provider of tools, equipment, and accessories to the natural and engineered stone industry.
- ONICON Incorporated, a portfolio company of our client Harbour Group, in its acquisition of all of the outstanding shares of Air Monitor Corporation, a California corporation, engaged in the business of designing, manufacturing, distributing, selling and servicing flow measurement devices, including air and coal flow measurement devices and air and coal flow control systems, as well as the financing related to the transaction.
J.F. Lehman & Company, a long-standing Firm client, and a leading middle-market private equity firm focused on the defense, aerospace, and maritime sectors, in several transactions, including:
- The acquisition of the heavy equipment and mining divisions of Oldenburg Group Incorporated by Lake Shore Systems Inc., a newly-formed portfolio company of J.F. Lehman. With roots dating back to 1858, Lake Shore designs, engineers, manufactures and supports complex, heavy equipment systems to meet mission critical requirements in harsh operating environments, including large deck handling equipment, access and lifting systems for U.S. Government vessels and customized underground mining equipment for mine owners and operators around the world. Lake Shore operates from facilities in Rhinelander, WI, Iron River, MI, Kingsford, MI, and Ontonagon, MI as well as other sales and service sites in the United States and Mexico.
- Trident Maritime Systems, LLC, in its acquisition of Callenberg Technology Group from Wilhelmsen Maritime Services As. Callenberg designs, assembles, integrates, and supports HVAC, electrical energy management, and insulation systems for commercial and government vessels around the world. Callenberg is headquartered in Gothenburg, Sweden and employs approximately 900 employees in 14 countries.
- USJ-IMECO Holding Company and its affiliates, a leading independent provider of turnkey marine joiner, distributed systems and electro-mechanical solutions for government and commercial customers involved in new ship construction and vessel maintenance, repair and overhaul, in its acquisition of Joiner Systems, Inc. (“Joiner Systems”). Joiner Systems primarily designs, engineers, and manufactures accommodation systems for commercial and government ships. Joiner Systems is headquartered in Montréal, Québec.
L2 Capital, a lower middle market private equity firm that specializes in making equity investments in manufacturing, distribution and service companies, in its acquisition of Landfill Services Corp., an Apalachin, New York-based company that makes spray-on covers for landfills (the company has since been renamed LSC Environmental Products).
LLR Equity Partners, a private equity firm that provides capital to middle market growth companies with proven business models in a broad range of industries, in its joint acquisition, with Pouschine Cook Capital Partners, of Strategic Distribution, Inc., a provider of supply chain management solutions, from Platinum Equity.
Madison Logic Inc., a leading global provider of data-driven, account-based digital marketing solutions, in its sale to an affiliate of Clarion Capital Partners, LLC, a New York-based private equity firm.
NewSpring Capital, a long-standing Firm client and a leading middle market private equity fund with growth equity, healthcare, mezzanine debt, and buyout strategies, in several transactions, including:
- Its acquisition of Altus GTS, Inc. Altus, which was purchased from French parent company, Natixis, is the nation’s largest and leading commercial debt collection agency, offering a host of accounts receivable management solutions for enterprise and small to medium-sized business clients. As part of the acquisition, the Blank Rome team also advised Evergreen Industries and Spring Capital Partners, who partnered with NewSpring in completing the deal.
- X5 Solutions (now known as Magna5), a portfolio company of NewSpring Capital, in its add-on acquisitions of CornerStone Telephone Company, LLC and Novatel Ltd.in February of 2016.
PBM Capital Group, LLC, a private investment firm primarily focused on private equity, publicly traded securities, and special opportunities, in the capitalization of, and acquisition of assets by, GigaCyte, a novel stem cell research and drug discovery company.
Penn Detroit (Penn Power Group) in connection with its management buyout from various private equity firms. The transaction was financed by new private equity, management equity, and senior and subordinated debt. Headquartered in Philadelphia, Penn Power’s businesses involve distributing, maintaining, and repairing power generation equipment, as well as equipment and parts for heavy duty trucks and buses—all in connection with global industrial original equipment manufacturers.
SDI Health LLC, an LLR Partners portfolio company, in its acquisition of Verispan, LLC. The acquisition created one of the industry’s most innovative and comprehensive healthcare analytics companies. We also recently represented SDI Health LLC in its sale to IMS Health.
SOS Security, LLC, a global provider of security services, including, among others, security guards, executive and close protection services, special events services and strategic security consulting services, and a portfolio company of ZS Fund, a private equity group focused on small to mid-market control investments, in its acquisition of substantially all of the assets of:
- a Boston area based security company.
- a Florida-based security company
- an Atlanta-based security company.
Susquehanna Growth Equity as lead investor in a $16 million preferred stock investment in PaySimple, Inc., a leading provider of accounts receivable automation solutions for small businesses.
Togetherwork Holdings, LLC, a portfolio company of Aquiline Capital Partners, and a leader in group management software and payments, in several transaction, including:
- its acquisition of certain assets from Orbit Enterprises, Inc. d/b/a Cybergolf
- in its acquisition of CircuiTree, the preeminent provider of camp management software
Wedgewood Pharmacy, the largest U.S. compounding pharmacy specializing in animal health, in connection with a majority equity investment by New Harbor Capital, a Chicago-based private equity firm. Wedgewood Pharmacy, based in Swedesboro, NJ, prepares customized medications for people and their pets when FDA-manufactured drugs cannot meet their needs.
ZS Fund L.P. in a number of transactions, including:
- the acquisition of Juniper Landscaping Holdings, LLC and its affiliates, a Florida-based business providing residential landscaping, commercial landscaping, irrigation, and landscape maintenance services.