Covington’s private equity practice includes representation of LBO sponsors and investors in fund formation and in secondary transactions as well as representing the funds and management teams in buyout and other transactions throughout the US and in Europe. Clients include LBO funds and multi-strategy hedge funds making private equity investments. We regularly represent portfolio companies in bank financings, high-yield bond offerings, recaps and exit transactions. Our distinctive knowledge of key industries (health care, energy, communications and media) provides our clients innovative, focused strategic guidance and value-oriented results.
We represent private equity clients in LBOs, and growth capital and other debt or equity investments. We have M&A, finance, securities, executive compensation and tax teams that are dedicated to private equity transactions, with the ability to be responsive to all aspects of an LBO transaction. Our private equity group has been active in private equity for over twenty years, and advises on all aspects of buyouts, restructuring, refinancing, and IPO and M&A exits. In the secondary market, we have an active practice representing both buyers and sellers in acquisitions and dispositions of private equity portfolios.
We work as a cohesive team to ensure deals happen quickly and create value for our clients, leveraging our relationships both within and outside the firm to handle transactions of every level of complexity. We are best in situations requiring more than typical corporate representation, integrating our industry expertise or other expertise such as bankruptcy, environmental, or antitrust.
Representative Matters
- Charlesbank Capital Partners in its investment in Universal Technical Institute, in its acquisition and sale of Aurora Organic Dairy, in its acquisition and sale of The GSI Group, in acquisitions of Zenith Products, The Horn Companies, Cedar Creek Lumber, and Peacock Engineering Company, in its sale of American Tire Distributors, and in its formation of Blacksmith Brands, which purchased the Efferdent, Luden's and PediaCare brands from Johnson & Johnson, and subsequent sale of Blacksmith Brands to Prestige Brands.
- Colbeck Capital Management LLC, as the arranger of the secured debt financing for Kadman Pharmaceutical’s acquisition of Three Rivers Pharmaceuticals.
- HealthpointCapital Partners in its €71 million acquisition by way of private purchase and public tender offer of Ideal Medical Products, S.A., a French company listed on Euronext Paris, and as a selling shareholder in Alphatec Holdings, Inc.'s underwritten public offering of 18.4 million shares of common stock for total proceeds to HealthpointCapital and Alphatec of approximately $85 million.
- Omeros Corporation in the financing by Vulcan Capital of one of its pharmaceutical development programs.
- Perseus LLC in connection with its convertible debt investment in PhotoMedex, Inc., a publicly traded medical devices company, to finance the acquisition of the operations of Photo Therapeutics Ltd.
- Scout Partners, a partnership between David Howe and Peterson Capital, in connection with a growth capital investment in The Hinckley Company, a privately held boat manufacturer.
- Snow Phipps Group in its acquisitions of ITSolutions and the IT services business of NetStar-1, Inc.
- Trinity Equity Investments I, LLC in its investment in, and recapitalization of, Ricerca Biosciences, LLC, which was completed in connection with Ricerca’s acquisition of the Discovery and Preclinical business of MDS Pharma Services.
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