Private Equity

At Fredrikson & Byron, we have built a reputation as a go-to law firm for national and regional private equity and mezzanine funds seeking representation in middle market M&A transactions and day-to-day representation of their portfolio companies.

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Sean P. Kearney
Leigh-Erin Irons
Frank B. Bennett

"It was one of the few times that we have worked with a firm other than the very large firms that represent us. You demonstrated that you could handle a transaction extremely efficiently and cost-effectively. We were very, very happy, so, I just wanted to let you know that it really was a pleasure to work with you on the transaction."

What We Do

Clients find our value focused approach a refreshing choice, especially for private equity funds seeking alternative representation for a portion of their legal needs. In particular, our clients find we provide:

Senior legal leadership heavily involved in each M&A transaction
Midwest-based rate structure
Expertise with lower middle-market companies

Fredrikson & Byron offers a comprehensive approach to deal management, with the depth and breadth to handle multiple transactions simultaneously. Our attorneys work with fund clients to identify and understand the fund’s key assumptions about the business thus enabling us to negotiate and draft acquisition documents that underscore and protect the basic assumptions and investment thesis.

For lawyers in Fredrikson & Byron’s Private Equity Group, understanding the client’s investment strategy and philosophy is the key to delivering quality legal services. We understand that the life cycle of a private equity investment is unique. From sourcing and evaluation, through acquisition and operations to exit, we know transactions do not start with a letter of intent and evaluations of potential portfolio companies are not limited to legal issues.

Private Equity & Venture Capital Services offered include:

Acquisitions of portfolio companies
Acquisition of add-on companies
Acquisition debt financings
Management team representation
Sales of portfolio companies
Minority owner representation
Recapitalizations
Representation of operating companies
Review and negotiation of LP investments
Secondary sales and transfers of LP interests
Fund formation

Experience

Clients value our focus on getting deals closed in a timely and efficient manner within a relatively low rate structure as well as the level of experience and efficiency we bring to private equity transactions of all sizes. Our experience includes:

Representation of local private equity funds and over a dozen national private equity clients
Regular exposure to leading national senior lenders
Sponsor funding activity with local senior lenders
Both national and local mezzanine lenders experience
Extensive sell-side experience with a number of national funds across the country

Practice Services include:

Acquisitions of platform companies
Acquisitions of add-on companies
Acquisitions debt financings
Management team representation
Minority owner representation
Sales of portfolio companies
Recapitalizations
Representation of operating companies
Review and negotiation of LP investments
Secondary sales and transfers of LP interests
Fund formation

News & Articles

Fredrikson & Byron Represents Audax Private Equity

September 2, 2015

Fredrikson & Byron acted as legal counsel for Audax Private Equity and Moelis Capital Partners in its sale of Quest Construction Products.

Fredrikson & Byron Represents Aavid Corporation

June 1, 2015

Fredrikson & Byron acted as legal counsel for Aavid Corporation, a portfolio company of Audax Private Equity (Audax), in its acquisition of Kunze-Folien GmbH (Kunze).

Deals in Delaware: Obtaining Enforceable Releases and Indemnification Provisions in Mergers

April 10, 2015

By Lisa Holter

In a recent case, the Delaware Court of Chancery held that parties to a merger transaction could not require a minority stockholder to give the buyer a release that was not required as part of the merger agreement itself, or agree to indemnify the buyer indefinitely for post-closing indemnification obligations up to 100 percent of the merger consideration received. See Cigna Health & Life Ins. Co. v. Audax Health Solutions, Inc. 107 A.3d 1082 (Del. Ch. 2014). This decision has implications for any private business held by a diverse group of stockholders, and in particular for private equity funds, which typically hold a controlling interest along with other significant minority holders. In this case, Optum Services, Inc. (Acquirer), a Delaware corporation, entered into a merger agreement to acquire Audax Health Solutions, Inc. (Target), a Delaware corporation, through a newly-formed entity Audax Holdings, Inc. (Holdings), wholly-owned by Acquirer. Before the merger, Cigna Health and Life Insurance Company (Minority Holder) owned shares of Target’s Series B Preferred Stock.

Fredrikson & Byron Represents Phillips & Temro Industries Inc. in its Sale to Harbour Group

March 19, 2015

Fredrikson & Byron acted as legal counsel to Phillips and Temro Industries, Inc. (PTI) in its sale to Harbour Group.

Attorneys Mercedes M. Jackson and Bradley J. Wallace Join Fredrikson & Byron

February 25, 2014

Fredrikson & Byron adds depth to its Private Equity practice with the addition of Mercedes M. Jackson and Bradley J. Wallace.

Our Team

Private Equity

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