P. Paul Rezvani, P.C.

Select Acquisition Financing Experience

• Represented a global alternative investment manager as the anchor investor for the $5 billion term loan and secured bonds debt package to Elon Musk’s artificial intelligence startup, x.AI Corp, a public-benefit company focused on developing advanced AI technologies. The debt was matched by a $5 billion strategic equity investment for a total $10 billion capital investment.
• Represented BC Partners on their $8 billion acquisition of GFL Environmental Inc.’s (NYSE: GFL) (TSX: GFL) Environmental Services business.
• Represented TPG and its portfolio companies in various matters, including:
  
  • TPG Growth and its portfolio company Philz Coffee, a specialty coffee brand, on a strategic investment from Freeman Spogli.
  • TPG Growth and its portfolio company Crunch Fitness, a globally recognized powerhouse in the fitness industry, on a strategic investment from Leonard Green & Partners.
  • TPG Growth and its portfolio company Mendocino Farms, a Southern California-based restaurant chain serving chef-inspired sandwiches and salads, on a dividend recapitalization and various other financing transactions.
  • TPG Capital and Francisco Partners on their $6.5 billion acquisition of New Relic.
  • TPG Rise Climate on its acquisition of a majority stake in the UK sustainable gas management company, A-Gas from KKR.
  • TPG Capital in connection with its dividend recapitalization of their Australian-based portfolio company, Greencross.
  • TPG Rise Fund on its acquisition of Blue Cloud Pediatric Surgery Centers.
  • TPG Capital in connection with its strategic investment in Creative Planning, a leading independent wealth management firm.
• Represented Thoma Bravo and its portfolio companies in various matters, including:
  
  • Thoma Bravo in connection with its $12.3 billion take-private of Proofpoint (Nasdaq: PFPT), a leading cybersecurity and compliance company.
  • Thoma Bravo in connection with its $6.4 billion take-private of Medallia, Inc. (NYSE: MDLA), the global leader in customer and employee experience.
  • Thoma Bravo in connection with its $729 million take-private of Majesco (Nasdaq: MJCO), a global leader of cloud insurance software solutions for insurance business transformation.
• Represented Centerbridge Partners and its portfolio companies in various matters, including:
  
  • Centerbridge Partners on its acquisition of high-complexity precision components manufacturer Precinmac LP.
  • Centerbridge Partners on its acquisition of MacLean Power Systems.
• Represented Clearlake Capital Group and its portfolio companies in various matters, including:
  
  • Clearlake Capital Group in its $2.6 billion acquisition of Intertape Polymer Group Inc., with financing arrangements composed of a $1.5 billion first lien term loan facility and a $250 million ABL revolver facility.
  • Clearlake Capital Group in its acquisition of WellPet, a branded leader in premium natural pet food and treats.
  • Clearlake Capital Group in its acquisition of Zywave, the leading software-as-a-service provider of front office insurance solutions, from Aurora Capital Partners.
  • Clearlake Capital Group in its acquisition of Landesk Group, Inc. from Thoma Bravo and its combination with Heat Software Holdings, Inc.
• Represented BayPine and its portfolio companies in various matters, including:
  
  • BayPine and its portfolio company Mavis Tire Express Services Corp. on the financing of the acquisition of Midas, the leading provider of automotive repair and maintenance services.
  • BayPine on a majority investment in Harbor Global, LLC, the preeminent provider of consulting and technology services to the legal industry.
  • BayPine on a majority investment in CenExel Clinical Research, Inc., a leading clinical trial site network focused on complex therapeutic areas.
• Represented K1 Investment Management and its portfolio companies in various financing matters.
• Represented Accel-KKR and its portfolio companies in various matters, including:
  
  • Accel-KKR on its acquisition of Accertify from American Express.

Select In- and Out-of-Court Restructurings and Liability Management Transactions

• Represented TPG Growth on a restructuring support agreement with Superior Industries International, Inc. (NYSE: SSUP), which contemplate a merger with a legal entity owned by Superior’s lenders.
• Represented Frontier Communications Corporation and its 103 debtor subsidiaries in their prearranged Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of New York. With over $17.5 billion in outstanding funded debt, Frontier’s Chapter 11 cases were the second largest restructuring of 2020. The company’s prearranged plan, which was confirmed in approximately four months, effected a balance sheet restructuring that reduced the company’s outstanding funded debt by over $10 billion.
• Represented Windstream Holdings, Inc., and its debtor subsidiaries in their Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of New York. Windstream confirmed a Chapter 11 plan of reorganization that addresses more than $5.6 billion in funded debt obligations.
• Represented TriMark USA, a distributor of foodservice equipment and supplies to restaurants, in connection with its recapitalization executed with a group of majority first lien term lenders.
• Represented Z Gallerie, LLC and its debtor subsidiaries in their Chapter 11 cases in the U.S. Bankruptcy Court for the district of Delaware and their debtor-in-possession credit facility.
• Represented IPC Systems, Inc, a leading global provider of secure, compliant communications and networking solutions for the global financial markets, in a comprehensive out-of-court restructuring. The transaction reduced IPC’s leverage by over $400 million, extended its debt maturity schedule by 5 years and provided $125 million of new capital.

Global Finance Associate, Sidley Austin LLP, 2013–2016