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Stephen Infante is head of Covington’s Private Equity practice. He has broad experience in mergers and acquisitions and private equity transactions, and also practices in the areas of corporate governance, securities, and finance. His experience includes public and private acquisitions and divestitures, “going private” transactions, recapitalizations, and other leveraged transactions, minority investments, cross-border transactions and joint ventures, as well as representation of investment banks as financial advisors in M&A transactions.
Mr. Infante represents clients in a variety of industries including life sciences, energy, technology, industrials, communications and media.
- Represented the Special Committee of the Board of Directors of Atlas Pipeline Partners, L.P. in its $5.8 billion merger with Targa Resource Partners L.P.
- Represented Ascension Health, the largest non-profit health system in the U.S., in its investment in Accretive Health, Inc. and in connection with an investment by TowerBrook Capital Partners in Ascension's TriMedx healthcare technology management services business.
- Represented the Sorbaro family and Mavis Tire, the largest independent tire retailer in New York, in connection with a significant minority investment in Mavis by ONCAP Management Partners, and represented Mavis Tire in the subsequent acquisition of Somerset Tire Service, another large retail tire chain.
- Represented ONCAP Management Partners in its acquisition of Tecta, the nation's premier commercial roofing contractor, from funds managed by Oaktree Capital Management.
- Represented AstraZeneca in its $1.3 billion acquisition of Ardea Biosciences; and its acquisition of Bristol-Myers Squibb’s interests in the companies’ diabetes alliance for an initial consideration of $2.7 billion and up to $1.4 billion in regulatory, launch, and sales-related payments.
- Represented MedImmune, AstraZeneca's biologics arm, in its acquisition of Amplimmune for $225 million upfront and additional potential milestone payments.
- Represented Actelion Ltd. in its acquisition of Ceptaris Therapeutics for $250 million upfront and additional potential payments based on net product sales and achieving milestones.
- Represented Resource Capital Corp. in the sale of its Northport Capital finance business to a partnership of CVC Credit and Coller Capital.
- Represented Octavian Advisors and Octavian Global Partners in connection with TPG Special Situations Partners acquiring a significant stake in, and taking over management of, the Octavian investment funds.
- 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.
- The Special Committee of the Board of Directors of Atlas Energy, L.P. in its acquisition of upstream oil and gas assets from its former parent, Atlas Energy, Inc., in connection with Chevron's purchase of Atlas Energy, Inc.
- SandRidge Energy in its $1.6 billion acquisition of Arena Resources, in its $1.275 billion acquisition of Dynamic Offshore Resources and in its defense of a proxy contest initiated by TPG Axun.
- Joy Global in its $1.1 billion acquisition of LeTourneau Technologies from Rowen Companies and the subsequent sale of LeTourneau's drilling systems business to Cameron International.
- Boehringer Ingelheim in its acquisition of certain animal health products being divested in connection with the Pfizer-Wyeth merger.
- Medarex in its $2.4 billion merger with Bristol-Myers Squibb.
- Kerr-McGee in its $18 billion merger with Anadarko Petroleum, in its defense and settlement of a proxy contest initiated by Carl C. Icahn and JANA Partners, in a $4 billion “Dutch” auction self tender offer and related spin-off of its chemicals business, and in its $3.4 billion acquisition of Westport Resources and related $650 million senior notes offering.
- The Special Committee of Independent Directors of Charlotte Russe on its $380 million acquisition by Advent International and its successful defense of a proxy contest initiated by KarpReilly LLC.
- JLG Industries in its $3.2 billion merger with Oshkosh Truck Corporation.
- Resource Capital in the restructuring of its investment in Leaf Commercial Capital undertaken in connection with an investment in Leaf by EOS Partners, L.P. and its affiliates.
- Abbott Laboratories in its $3.7 billion acquisition of KOS Pharmaceuticals, Inc.
- Paramount Acquisition Corp., a healthcare-focused special purpose acquisition company, in its acquisition of ChemRx, an institutional pharmacy.
- Biotechnology company, Encysive Pharmaceuticals, in its exploration of strategic alternatives, which resulted in the sale of the company to Pfizer.
- Intercel AG, an Austrian biotechnology company, in its acquisition of Iomai Inc., a publicly-traded vaccine developer.
- Computer Associates in its acquisitions of PestPatrol, Sterling Software, Platinum Technology, Legent, ASK, and Cheyenne Software, as well as the divestiture of its ACCPAC International division to The Sage Group.
- IAC in its acquisition of Precision Response Corporation, the merger of Ticketmaster Online and CitySearch, and the acquisition of a number of cable networks.
- RL Childrenswear in its sale to Polo Ralph Lauren.
- Aetna US Healthcare in the sale of its Human Affairs International behavioral healthcare services division to Magellan Health Services.
- Wella AG in its acquisition of Johnson Products, Toni & Tina Cosmetics, and Yardley of London.
- Physician Support Systems in the acquisition of companies providing billing services for physicians, physicians groups, and hospitals and in its sale to National Data Corporation.
- Vivendi Universal Entertainment in the sale of its Newsworld International cable television network to an investment group led by former Vice President Al Gore.
Covington Advises Aristocrat in Acquisition of Plarium and Related Acquisition Financing
August 15, 2017
WASHINGTON—Covington, together with Israeli-based law firm Allens and Herzog Fox & Neeman, is representing Aristocrat Leisure Limited, a leading provider of gaming solutions, in its acquisition of Plarium Global Limited and the related acquisition financing. Aristocrat will make an upfront cash payment of $500 million plus earn-out payments based on Plarium’s ...
December 8, 2015
NEW YORK, December 8, 2015 - Covington represented Ascension, the nation’s leading Catholic and non-profit health system, in a $200 million investment transaction with TowerBrook Capital Partners in Accretive Health, a leading provider of revenue cycle management services to healthcare providers. The transaction is expected to close in the first quarter of ...
Covington Advises Joy Global on Acquisition of Montabert
June 4, 2015
NEW YORK, June 4, 2015 — Covington acted as U.S. M&A and antitrust counsel to Joy Global, Inc., a leader in high-productivity mining solutions, on its French-law governed acquisition of Montabert S.A.S. from Doosan Holding France S.A.S., an affiliate of South Korean conglomerate Doosan Global, for EUR 110 million. Montabert specializes in the production and ...
October 13, 2014
NEW YORK, October 13, 2014 — Covington & Burling advised the Special Conflicts Committee of the Board of Directors of Atlas Pipeline Partners in its $5.8 billion merger with Targa Resources Partners. Under the agreement, Targa will pay $4 billion in Targa units and cash and assume $1.8 billion in debt for Atlas. Atlas unitholders will receive 0.5846 units of ...
December 19, 2013
NEW YORK, December 19, 2013 — Covington & Burling advised AstraZeneca in its acquisition of Bristol-Myers Squibb's interests in the companies’ diabetes alliance for an initial consideration of $2.7 billion on completion and up to $1.4 billion in regulatory, launch and sales-related payments. AstraZeneca has also agreed to pay various sales-related royalty ...
Covington Advises MedImmune in Acquisition of Amplimmune
August 26, 2013
NEW YORK, August 26, 2013 — Covington & Burling is advising MedImmune, AstraZeneca’s global biologics research and development arm, on the acquisition of Amplimmune, a privately held biologics company focused on developing novel therapeutics in cancer immunology. Under the terms of the merger agreement, MedImmune will acquire Amplimmune shares for an initial ...
July 31, 2013
WASHINGTON, DC, July 31, 2013 — Covington & Burling advised Octavian Advisors, LP, Octavian Global Partners, LLC, and their affiliates ("Octavian") on a transaction with TPG Special Situations Partners ("TSSP"). Under the terms of the transaction, affiliates of TSSP acquired a significant stake in, and took over the management of, several Octavian funds. The ...
December 19, 2012
WASHINGTON, DC, December 19, 2012 — SandRidge Energy, Inc. today announced that it has signed a definitive agreement to sell Permian Basin properties to Sheridan Production, a private operator, for $2.6 billion in cash. Covington & Burling, along with Texas-based Locke Lord, advised SandRidge on the transaction. SandRidge will use the proceeds to reduce debt ...
April 23, 2012
WASHINGTON, DC, April 23, 2012 — Covington & Burling represented AstraZeneca in its $1.26 billion acquisition of Ardea Biosciences. Under the agreement, AstraZeneca will pay $32 per share for all of the outstanding shares of Ardea. AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and ...
Covington Advises SandRidge in $1.275 Billion Acquisition of Dynamic Offshore Resources and Related Financing
February 1, 2012
New York, February 1, 2012 — Covington & Burling advised SandRidge Energy, Inc. on its announced acquisition of Dynamic Offshore Resources, LLC for $1.275 billion in cash and stock. Under the agreement, SandRidge will pay about $680 million in cash and approximately 74 million shares of SandRidge common stock valued at $8.02 per share. Covington also advised ...
November 28, 2011
NEW YORK, November 28, 2011 — Covington & Burling represented Resource Capital Corp. (NYSE: RSO) in the restructuring of its investment in Leaf Commercial Capital, Inc. (LEAF), a commercial finance joint venture in which RSO has a substantial interest. The restructuring of RSO’s investment was undertaken in connection with a growth equity investment of $50 ...
August 31, 2011
NEW YORK, August 31, 2011 — Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, reported today that it has entered into a definitive agreement to sell the drilling products business of its recently acquired LeTourneau Technologies, Inc. to Cameron International Corporation (NYSE: CAM) for $375 million in cash, subject to ...
June 9, 2011
WASHINGTON, DC, June 10, 2011 — Covington & Burling LLP received 92 individual mentions and 32 practice mentions in the Legal 500 US 2011 edition. Legal 500 reviews the strengths and strategies of law firms in more than 90 countries in Europe, the Middle East, Asia, North and South America, and the Caribbean. Here are the Covington lawyers and practices ...
5/16/2011
WASHINGTON, DC, May 16, 2011 — Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, reported today that it has signed a definitive agreement to acquire 100 percent ownership interest in LeTourneau Technologies, Inc. (“LeTourneau”) from Rowan Companies, Inc. (“Rowan”) (NYSE: RDC) for $1.1 billion in cash. LeTourneau designs, ...
1/6/2011
NEW YORK, January 6, 2011 — Charlesbank Capital Partners has announced that it has acquired Peacock Engineering Company, LLC, a leading provider of outsourced food packaging and supply chain management services to many of the nation’s largest branded consumer products companies, from Behrman Capital. The terms of the transaction, which closed on December 21, ...
Covington Advises Atlas Pipeline Holdings L.P. in Acquisition of Upstream Oil & Gas Assets from Atlas Energy, Inc.
November 9, 2010
NEW YORK, November 9, 2010 — Atlas Pipeline Holdings L.P. and Atlas Energy, Inc. announced today that they have entered into an agreement for Atlas Holdings to acquire from its parent, Atlas Energy, all of Atlas Energy’s partnership management business and certain producing oil & gas assets for total consideration of $250 million, consisting of $220 million in ...
September 21, 2010
NEW YORK, September 21, 2010 — Prestige Brands Holdings, Inc. has announced that it has entered into a definitive agreement to acquire 100% of the stock of Blacksmith Brands Holdings, Inc., a portfolio company of Charlesbank Capital Partners, for $190 million in cash. Covington & Burling LLP advised Charlesbank on the transaction, which is expected to close in ...
Covington Advises SandRidge Energy on Closing of Merger with Arena Resources, Creating a $6.2 Billion Company
July 20, 2010
NEW YORK, July 20, 2010 — SandRidge Energy, Inc. has completed its acquisition of Arena Resources, Inc., creating a combined company with an enterprise value of approximately $6.2 billion. Covington & Burling LLP advised SandRidge Energy on the transaction. The merger closed on July 16 following special meetings of the stockholders of each company. The ...
Covington Advises Charlesbank Capital Partners on Recapitalization of Cedar Creek Lumber
May 21, 2010
NEW YORK, May 21, 2010 — Charlesbank Capital Partners, LLC and Cedar Creek Lumber have announced a recapitalization whereby Charlesbank will acquire majority ownership of Cedar Creek. The transaction, which is structured as an asset purchase, will provide the Cedar Creek business with capital to grow organically and expand within the wholesale building materials ...
Scott Smith Named Am Law’s ‘Dealmaker of the Week’
April 12, 2010
NEW YORK, April 12, 2010 — Covington & Burling LLP’s Scott Smith has been named “Dealmaker of the Week” by The Am Law Daily. Mr. Smith, chair of the firm’s M&A and private equity practices, was recognized for advising SandRidge Energy in its acquisition of Arena Resources, a deal that was announced April 4. The other members of the New York and Washington ...
11/2/2009
NEW YORK, NY, November 2, 2009 — Charlesbank Capital Partners, LLC has announced the formation of Blacksmith Brands Inc. with the acquisition of five over-the-counter consumer products brands from McNEIL-PPC, Inc. Covington & Burling LLP advised Charlesbank on the transaction. The brands acquired by Blacksmith include: Efferdent denture cleaner; Effergrip ...
Covington Advises Boehringer Ingelheim on Acquisition of Animal Health Assets from Pfizer and Wyeth
9/24/2009
NEW YORK, September 24, 2009 — Boehringer Ingelheim, and its US animal health business Boehringer Ingelheim Vetmedica, Inc., has entered into an agreement with Pfizer to acquire certain assets of Wyeth’s Fort Dodge Animal Health business upon the closing of the global Pfizer-Wyeth merger. Covington & Burling LLP represented Boehringer Ingelheim on the ...
Covington Advises Special Committee of Independent Directors of Charlotte Russe on $380M Acquisition by Advent International
8/24/2009
NEW YORK, NY, August 24, 2009 — Charlotte Russe Holding, Inc., a leading mall-based specialty retailer for young women, announced today that it has entered into a definitive agreement to be acquired and taken private by investment funds managed by Advent International Corporation. Covington & Burling LLP advised the Charlotte Russe Special Committee on the ...
7/22/2009
NEW YORK, NY, July 22, 2009 — Medarex and Bristol-Myers Squibb announced today that Bristol-Myers Squibb entered into an agreement for Bristol-Myers Squibb to acquire all of the outstanding stock and stock equivalents of Medarex for $16.00 in cash per share, or aggregate consideration of $2.4 billion. Covington & Burling LLP advised Medarex on the ...
8/7/2008
WASHINGTON, DC, August 7, 2008 — On August 5, Intercell AG completed its acquisition of Iomai Corporation (now known as Intercell USA, Inc.) in a deal that will create a leading traveler’s vaccine portfolio. Covington & Burling LLP advised Intercell on the transaction. Intercell is a growing biotechnology company which focuses on the design and development of ...
Covington Advises Encysive on Pfizer Deal
2/21/2008
WASHINGTON, DC, February 21, 2008 — Encysive Pharmaceuticals Inc. announced yesterday that it has entered into an agreement to be acquired by Pfizer Inc. Under the terms of the agreement, Pfizer will make a cash tender offer for all issued and outstanding shares of Encysive for $2.35 per share, representing an equity value of approximately $195 million. ...
Covington Advises E*TRADE Bank in Investment
11/30/2007
NEW YORK, NY, November 30, 2007 — E*TRADE FINANCIAL Corporation has announced an agreement that will result in a cash infusion of $2.5 billion. The transaction, led by affiliates of Citadel Investment Group, includes immediate funding of approximately $2.4 billion with the remaining $150 million expected to fund by January 15, 2008. Covington & Burling LLP ...
Covington Advises Technisource on Spherion Acquisition
11/16/2007
NEW YORK, NY, November 16, 2007 — Technisource, Inc. announced it has signed a definitive agreement to be acquired by Spherion Corporation for total consideration of $140 million. Covington & Burling LLP advised Technisource on the transaction. Spherion Corporation is a leading recruiting and staffing company that provides integrated solutions to meet the ...
June 26, 2007
NEW YORK, NY, June 26, 2007 — The GSI Group, Inc. announced that its parent company, GSI Holdings Corp., which is controlled by Charlesbank Capital Partners, has entered into an agreement pursuant to which affiliates of Centerbridge Partners, L.P. will acquire a majority stake. Covington & Burling LLP advised The GSI Group and Charlesbank Capital Partners on the ...
Covington Represents Greenhill in Ceridian Acquisition
May 31, 2007
NEW YORK, NY, May 31, 2007 — Ceridian Corporation, Thomas H. Lee Partners, L.P. ("THL Partners") and Fidelity National Financial, Inc. announced that they have entered into a definitive merger agreement under which Ceridian will be jointly acquired by THL Partners and FNF in an all cash transaction valued at approximately $5.3 billion. Covington & Burling LLP ...
Covington Advises UBS on Innkeepers Deal
4/18/2007
NEW YORK, NY, April 18, 2007 — Innkeepers USA Trust announced that it has entered into a definitive agreement to be acquired by Apollo Investment Corporation for $1.5 billion or $17.75 per share in cash. Covington & Burling LLP advised UBS Investment Bank, financial advisor to Innkeepers, on the transaction, which is expected to close in the second quarter of ...
February 16, 2007
NEW YORK, NY, February 16, 2007 — Equifax Inc. and TALX Corporation announced on February 14, 2007 that Equifax will acquire TALX in a stock and cash transaction valued at approximately $1.4 billion, including the assumption of debt. Covington & Burling LLP advised Bear Stearns & Co. in the deal, which is expected to close in the late second or early third ...
Covington Advises Abbott Laboratories in $3.7 Billion Acquisition of Kos Pharmaceuticals, Inc.
11/06/2006
NEW YORK, NY, November 6, 2006 — Abbott Laboratories (NYSE: ABT) announced the acquisition of Kos Pharmaceuticals (NASDAQ: KOSP) through a cash tender offer of $78.00 per common share, or $3.7 billion. Covington & Burling LLP represented Abbott in the transaction. Abbott is a global, broad-based health care company devoted to the discovery, development, ...
Covington Advises JLG Industries in $3.2 Billion Merger into Oshkosh Truck Corporation
10/16/2006
WASHINGTON, D.C., October 16, 2006 — The board of directors of JLG Industries, Inc. (NYSE: JLG) has approved an all cash offer of $28.00 per common share to merge with, and become, a subsidiary of Oshkosh Truck Corporation (NYSE: OSK). According to JLG’s press release, the $3.2 billion merger is dependent on the approval of JLG shareholders. The transaction is ...
- Legal 500 US, M&A: Large Deals (2013-2014)