Kirkland & Ellis LLP advised Francisco Partners, a leading global private equity firm, in Connecture, Inc.’s (NASDAQ: CNXR) $52 million PIPE offering. The investment, which will be led by Francisco Partners, will strengthen Connecture’s financial profile through reduced leverage and accelerate its growth opportunities. The transaction, which is subject to customary closing conditions, including approval by the company’s shareholders, also includes an investment from existing shareholder Chrysalis Ventures, which will increase its investment in the company. Connecture is a provider of web-based information systems used to create health insurance marketplaces. The full release is available here.
The Kirkland team was led by corporate partners Adam Phillips, Josh Korff and Ross Leff.