Todd Herst
Overview
Todd Herst is a partner in Kirkland's Chicago Technology & IP Transactions Practice Group, focusing on structuring and negotiating complex transactions involving technology, intellectual property, and data, including mergers and acquisitions, licensing arrangements, outsourcing/services arrangements, bankruptcy matters, joint ventures, and strategic alliances.
Todd was recognized in the 2021 and 2022 editions of Best Lawyers as "Ones to Watch" and in The Legal 500 United States as "Next Generation." He was also named a "Rising Star" by both The Legal 500 United States for Outsourcing in 2019–2021 and by Super Lawyers (Illinois) for Technology Transactions in 2018–2022. Before attending law school, Todd was a consultant with IBM in their Enterprise Systems Group, where he provided strategic and technical advice in connection with enterprise system and process implementations at several clients across various industries, including Fortune 500 pharmaceutical and energy companies.
Experience
Representative Matters
Technology-Focused Private Equity M&A
- Calabrio, a portfolio company of KKR, in its acquisition of Teleopti
- CC Capital, in its $6.9 billion acquisition of Dun & Bradstreet
- Thoma Bravo in numerous transactions, including: its $3.5 billion acquisition of Riverbed Technology, acquisition of data security provider LogRhythm, acquisition of risk management software provider Riskonnect, and acquisition of Canadian digital automotive marketplace Trader Corporation
- GTCR in its carve-out acquisition, and subsequent sale, of Beeline vendor management system
- ParkerGale Capital in its dual acquisitions of CultureIQ and Workforce Surveys & Analytics (as a carve-out from Gartner)
Strategic M&A
- Honeywell (NASDAQ: HON) in the $1.325 billion carve-out sale of its Personal Protective Equipment (PPE) business, a provider of PPE for industrial workers, to Protective Industrial Products
- Celanese Corporation in its $1.15 billion acquisition of ExxonMobil’s Santoprene TPV elastomers business
- Verizon (NYSE: VZ) on the sale of Verizon Media to funds managed by Apollo Global Management, Inc. (NYSE: APO) for $5 billion. The carve-out allows Verizon Media to pursue growth areas of Internet and digital media while Verizon maintains a minority stake
- Accenture in its acquisition of Symantec’s Cyber Security Services business from Broadcom, Inc.
- Alight Solutions in its acquisition of Wipro's Workday and Cornerstone OnDemand business
- Boeing, in its $4.3 billion acquisition of KLX Inc., an aviation parts and services provider
- Sensata Technologies Holding N.V. in its acquisition of various business divisions from Custom Sensors & Technologies
- Micro Focus International, in its acquisition of Hewlett Packard Enterprise’s software business
Outsourcing
- SSM Health on its groundbreaking multibillion-dollar strategic alliance with UnitedHealth Group, which includes a full suite of outsourced services relating to revenue cycle management, care transformation and digital health innovation
- Laboratory instrument company in a build-operate-transfer outsourcing transaction
- CNA Insurance, in connection with various long-term outsourcing arrangements for IT services
- Health Care Service Corporation, in connection with various long-term outsourcing arrangements for IT services
- R1 RCM, Inc., in connection with various long-term outsourcing arrangements with Ascension Health for revenue cycle management services
Restructuring / Bankruptcy
- Toys “R” Us, Inc. and certain of its direct and indirect subsidiaries, in their pending chapter 11 cases
- iHeartMedia Inc., in its pending chapter 11 case
Prior Experience
PILI Fellow, Center for Economic Progress, 2014
Summer Associate, Kirkland & Ellis LLP, 2013
Business Systems Consultant, IBM Global Services, 2008–2012
More
Recognition
Recognized as a “Next Generation” for Outsourcing by The Legal 500 United States, 2021–2025
Recognized in Best Lawyers: Ones to Watch by Best Lawyers, 2021–2024
Recognized as a “Rising Star” for Outsourcing by The Legal 500 United States, 2019–2020
Recognized as a “Rising Star” in Illinois for Technology Transactions by Super Lawyers, 2018–2023
Member of Kirkland's Chicago Associates Committee, and IT Advisory Group
Credentials
Admissions & Qualifications
- 2014Illinois
Education
- Northwestern Pritzker School of LawJ.D.magna cum laude2014
Order of the Coif
Arlyn Miner Book Award for Legal Writing
- University of Illinois at Urbana-ChampaignB.S., General Engineering; Business Administration & International Engineering Minorswith Honors2008
James Scholar
News &
Insights
- Press Release Kirkland Advises Thoma Bravo on $10.55 Billion Acquisition of Digital Aviation Assets from Boeing
- Press Release Kirkland Advises Worldpay and GTCR on Sale of Worldpay to Global Payments for $24.25B in Conjunction with Transformative Three-Way Transaction
- Press Release Kirkland Advises Munich Re on Acquisition of NEXT Insurance
- Press Release Kirkland Advises Thoma Bravo-Backed Bluesight on Acquisition of Protenus
- Press Release Kirkland Advises Bain Capital Insurance on Joint Venture with WTW