Matthew C. Darch

Mergers & Acquisitions

• AbbVie Inc. (NYSE: ABBV) on its $8.7 billion acquisition of neuroscience drug company Cerevel Therapeutics (NYSE: CERE)
• Accel-KKR:
  • on its agreement with American Express (NYSE: AXP) to acquire Accertify, a leading provider of fraud prevention, chargeback management, account protection and payment gateway solutions
  • and AKKR portfolio company Vitu on their acquisition of the Dealertrack registration and titling businesses from Cox Automotive, including RTS (Registration and Titling Solutions), RegUSA (Nationwide Title and Registration), Accelerated Title, and CMS (Collateral Management Services)
• Actis on its sale to General Atlantic
• Allergan Aesthetics, an AbbVie company (NYSE: ABBV), in its $550 million acquisition of Soliton (Nasdaq: SOLY), a medical technology company focused on developing and commercializing products utilizing its proprietary designed acoustic shockwave technology platform referred to as RAP
• Altaris Capital in the acquisition of Minaris Regenerative Medicine from Resonac Corporation
• Antylia Scientific, a diversified life science tools business, on the sale of its Masterflex business unit to Avantor for $2.9 billion
• Apollo (NYSE:APO) in its acquisition, alongside its portfolio company Athene of PK AirFinance from GECAS
• BC Partners in connection with its acquisition of Madison Logic
• Bristol Myers Squibb in its $13.4 billion divesture of Celgene’s OTEZLA® program to Amgen
• The Carlyle Group:
  • in partnership with Unchained Labs’ management, in the $435 million acquisition of Unchained Labs, a life science tools company, from Novo Holdings A/S, Canaan Partners and TPG Biotech
  • on its acquisition of a minority stake in Ambio Holdings, Inc., a global peptide API CDMO, from MVM Partners, a specialist healthcare fund
• Colfax Corporation in its $3.15 billion acquisition of DJO Global Inc.
• CoreLogic®, a portfolio company of Stone Point Capital and Insight Partners, in its add-on acquisition of ClosingCorp, an intelligence source for closing costs and service providers in the U.S. residential real estate industry
• Danaher Corporation (NYSE: DHR) in the $750 million sale of its label-free biomolecular characterization, chromatography hardware and resins, microcarriers and particle validation standards businesses to Sartorius AG
• Durational Capital Management in its acquisition of Casper Sleep Inc.
• EQT in its $4.25 billion acquisition of Crown Castle Inc.’s Small Cells Solutions business
• EQT Infrastructure IV in its agreement to acquire EdgeConneX, a global data center provider serving the fast growing Hyperscale and Edge ecosystems, from an investor group led by Providence Equity Partners
• EQT Partners AB, along with Public Sector Pension Investment Board and Luxinva SA, a subsidiary of Abu Dhabi Investment Authority, in the acquisition of Nestle Skin Health SA from Nestle SA for an enterprise value $10.11 billion (CHF 10.200 billion)
• Eli Lilly and Company (NYSE: LLY) in its $2.4 billion acquisition of DICE Therapeutics (Nasdaq: DICE), a biopharmaceutical company
• Fortive Corporation in its:
  • combination of its Tektronix Video business, a global leader in video test, with Telestream, a leading provider of digital media tools and workflow solutions
  • $2 billion acquisition of Accruent
  • $770 million acquisition of Landauer, Inc.
• General Motors and GM Cruise Holdings LLC, GM’s autonomous vehicle (AV) business, in a series of transactions including:
  • a $2.25 billion investment from the SoftBank Vision Fund, at a $11.5 billion valuation
  • a $2.8 billion investment from Honda, at a $14.6 billion valuation
  • a $1.15 billion investment from a group comprising institutional investors, including funds and accounts advised by T. Rowe Price Associates, Inc., and existing partners General Motors, SoftBank Vision Fund and Honda, at a $19 billion valuation
• GLP Capital Partners on the $3.7 billion sale of GCP International to Ares Management Corporation
• GTCR in its $1.6 billion acquisition of ADT’s Commercial Fire and Security Business Segment from ADT
• GTCR-backed Maravai LifeSciences in its acquisition of MockV Solutions, a biotechnology company developing non-infectious viral clearance prediction products
• Ingersoll Rand, Inc. (NYSE:IR) in its carve-out sale of its High Pressure Solutions (HPS) business to American Industrial Partners, an operationally oriented private equity firm
• Linden Capital Partners in its:
  • sale of Z-Medica, a manufacturer of hemostatic products, for $525 million to Teleflex (NYSE: TFX), a leading global provider of healthcare supplies and services
  • acquisition of LifeStyles Healthcare (LifeStyles), a global sexual health and wellness platform
• LLamasoft in its:
  • acquisition of Opex Analytics, a Chicago-based provider of artificial intelligence (AI) solutions to Fortune 500 companies
  • sale to Coupa Software (Nasdaq: COUP), a leader in Business Spend Management (BSM), for approximately $1.5 billion
• Palistar Capital LP, and its portfolio company Harmoni Towers, in connection with Harmoni’s agreement to acquire Parallel Infrastructure, a leading tower platform and build-to-suit provider
• Palo Alto Networks in its $500 million acquisition of IBM’s QRadar Software as a Service business, and its strategic partnership with IBM to deliver AI-powered security outcomes to customers
• Pamplona Capital Management in its $5 billion acquisition of PAREXEL International
• Quantum Energy Partners in the acquisition of Mallard Exploration, an oil and gas exploration and production company that focuses on the DJ Basin of Colorado
• Schlumberger (NYSE: SLB) in its agreement with Liberty Oilfield Services (NYSE: LBRT) to acquire Schlumberger’s onshore hydraulic fracturing business in the U.S. and Canada (OneStim®), including its pressure pumping, pumpdown perforating wireline and Permian frac sand businesses, in exchange for a 37% equity interest in Liberty, valued at $448 million
• Solara Medical Supplies, LLC in its agreement to be acquired by AdaptHealth Corp. (Nasdaq: AHCO), a provider of home medical equipment, supplies and related services
• Thoma Bravo and JLL Partners in Thoma Bravo’s sale of MedeAnalytics, a cloud-based enterprise analytics solutions provider for health systems and health plans, to JLL Partners
• Thomas H. Lee Partners in its:
  • acquisition of Bazaarvoice, a provider of software solutions that collect and display user-generated content for online brands and retailers, from Marlin Equity Partners
  • acquisition of the Semiconductor Solutions Group business of Brooks Automation, Inc. for $3 billion
  • acquisition of Insurance Technologies, a provider of sales and regulatory automation solutions for the insurance and financial services industries, from NexPhase Capital
  • majority investment in Red Nucleus, a leading provider of strategic services across research and development, medical affairs, market access and learning and development
  • sale of HotDocs, its enterprise document automation and assembly business, to Mitratech
• Vericast, an affiliate of MacAndrews & Forbes, in its $420 million carve-out sale of its RetailMeNot business, an operator of a digital coupon marketplace, to J2 Global, Inc. (Nasdaq: JCOM)
• Warburg Pincus in its strategic investment in Global Healthcare Exchange (GHX), an operator of the healthcare industry’s largest cloud-based trading network that connects those who buy, sell and use products needed to deliver patient care

Capital Markets, SPAC Transactions & IPOs

• AEA-Bridges Impact Corp. (ABIC) (NYSE: IMPX) in its business combination agreement with LiveWire, Harley-Davidson’s (NYSE: HOG) electric motorcycle division, to create a new public company
• Banyan Acquisition Corporation in its $520 million business combination with Pinstripes, Inc.
• Belk, Inc. in its $210 million securitization facility secured by revenue streams from Belk’s loyalty credit card program
• Blackstone, in its US$400 million subscription of H shares convertible bonds in Hong Kong-listed YiChang HEC ChangJiang Pharmaceutical Co., Ltd. (HKSE: 1558)
• Everest Medicines Limited, (HKSE: 1952), a biopharmaceutical company that integrates licensing, clinical development and commercialization of therapies for the needs in Greater China and emerging Asia Pacific, in its $515 million IPO on the Hong Kong Stock Exchange
• FinServ Acquisition Corp. (Nasdaq: FSRV) in its merger with Katapult Holding, an e-commerce focused financial technology company
• Greenbriar Equity Group-led investment group in a $500 million Series A preferred stock financing for Uber Freight, the logistics arm of Uber Technologies (NYSE: UBER)
• JHBP (CY) Holdings (HKSE: 6998), a holding company for Genor Biopharma, a commercial-ready biopharmaceutical company that focuses on developing and commercializing oncology and autoimmune drugs, in its $400 million IPO
• Oaktree Acquisition Corp. II (NYSE: OACB) in its $2.25 billion business combination agreement with Alvotech Holdings S.A., a global biopharmaceutical company
• Stable Road Acquisition Corp. (Nasdaq: SRAC, SRACU, SRACW), a special purpose acquisition company sponsored by an affiliate of Stable Road Capital, in its pending $1.2 billion business combination with commercial space company Momentus Inc.
• TPG in its $450 million investment in Vice Media
• Twin Ridge Capital Acquisition Corp. (NYSE: TRCA), in its business combination with Carbon Revolution Limited (ASX: CBR), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels

Licensing, Joint Ventures, Strategic Alliances and Collaborations

• Authentic Brands Group, a global brand owner and licensing company, on its investment in Saks Global, a leading luxury retail and real estate company, in connection with Saks Global's acquisition of Neiman Marcus Group
• Bain in its negotiation of the brand license agreement with Virgin Enterprises in connection with Bain’s $3.5 billion acquisition of Virgin Australia
• Blue Owl in $1.2 billion joint venture with a hyperscaler for the development of a data center campus with expected capacity up to 42 MW, located in New Jersey. The data center is long-term leased to a hyperscaler
• Boehringer Ingelheim on its amended and restated alliance agreement with Eli Lilly and Company (NYSE: LLY) related to Jardiance®, Trajenta® and Basaglar®
• Eli Lilly in its research collaboration and licensing agreement with Lycia Therapeutics, Inc., focused on the discovery, development and commercialization of novel targeted therapeutics using Lycia's proprietary lysosomal targeting chimera protein degradation technology. The deal included an upfront payment, equity investment, over $1.6 billion in potential milestone payments, and tiered royalties from sales.
• Fidelis New Energy, LLC on a global alliance with Danish company Topsoe A/S to produce carbon neutral hydrogen
• GrubHub (NYSE: GRUB), the nation’s leading online and mobile food ordering company, in its $200 million private placement minority investment from and partnership arrangement with Yum! Brands (NYSE: YUM) to expand GrubHub’s U.S. delivery network
• Open Invention Network, a joint venture of nine leading technology companies and 3800+ licensing participants, which is the largest patent non-aggression community and supports the freedom of the Linux operating system
• Samumed LLC in its exclusive license agreement with United Therapeutics Corporation for the North American rights to Samumed's SM04646, which is being developed for the treatment of idiopathic pulmonary fibrosis (IPF)
• Sandbrook Capital in its $300 million capital commitment with NGP in Cloverleaf Infrastructure, a developer of large-scale digital infrastructure sites powered by low-carbon electricity
• Stonepeak Partners in its formation of Levo Mobility LLC (Levo), a joint venture formed by Nuvve Holding Corp., Stonepeak Partners, and Evolve Transition Infrastructure LP that provides Fleet-as-a-Service solutions for school buses, last-mile delivery, ride hailing and ride sharing, and municipal services, utilizing Nuvve’s V2G technology and committed capital from Stonepeak and Evolve of up to an aggregate $750 million.
• Viking Global Investors LP in its joint venture with Battelle to create Revive Environmental Technologies, LLC, a provider of per- and polyfluoroalkyl substances (PFAS) remediation services.

Restructuring

• Akorn, Inc., a leading specialty pharmaceutical company, in its sale to various lender groups in connection with its Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware
• Bed Bath & Beyond, Inc., the largest home goods retailer in the United States, in its sale of certain assets and value-maximizing wind down in connection with its Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey
• Casper Sleep Inc., a global sleep products company, on a comprehensive recapitalization transaction, which involved a transfer of the business to Carpenter Co., the company’s second lien lender and key supplier
• David’s Bridal, LLC, the nation’s largest provider of wedding gowns and other special occasion apparel, in its sale as a going concern in its Chapter 11 cases in the United States Bankruptcy Court for the District of New Jersey
• Pier 1 Imports, Inc., a publicly-traded omnichannel retailer specializing in home furnishings and décor, in its sale in connection with its Chapter 11 cases in the United States Bankruptcy Court for the Eastern District of Virginia