Howard A. Sobel

Technology-focused private equity firm Thoma Bravo on Tuesday unveiled plans to acquire third-party logistics provider WWEX Group from a consortium of investors that includes CVC Capital Partners, and also announced a plan to merge WWEX Group with its existing portfolio company Auctane once the acquisition closes. While financial terms of the transaction were not disclosed in Tuesday's announcement, a representative for Thoma Bravo confirmed that the deal is worth $5 billion. Thoma Bravo is acquiring Dallas-based WWEX Group from a group including CVC Capital Partners Fund VIII, Providence Equity Partners, Ridgemont Equity Partners, and PSG, according to the statement. "This combination brings together two complementary leaders at a pivotal moment for the logistics industry," said Thoma Bravo partner Brian Jaffee. "Auctane's category-defining shipping software and WWEX Group's scaled parcel and freight service offerings create an integrated solution with the data, distribution and volume necessary to help customers drive smarter decision-making and superior execution across the logistics life cycle." As part of the deal, CVC funds and other WWEX Group shareholders will roll over part of their equity in the company and keep a "significant" minority position in the merged business, the statement added. "We are thrilled to continue our journey with WWEX Group as part of this new, expanded platform," said CVC managing partner Aaron Dupuis. "By uniting WWEX Group's commercial engine with Auctane's global software footprint, we are creating a logistics technology leader with the scale to innovate faster and serve customers more effectively than ever before." WWEX Group provides parcel and freight services, with brands including Worldwide Express, GlobalTranz, Unishippers, JEAR Logistics, and BLX Logistics. Auctane is a global technology company that offers shipping and fulfillment solutions through products such as ShipStation, Stamps.com, Metapack, and Packlink. "Today's announcement is a significant milestone for us," said WWEX Group CEO Tom Madine. "By combining WWEX Group's brands and our position as a leading provider of parcel and freight services with Auctane's global ecosystem of e-commerce shipping software, we are creating a platform of tremendous potential." The parties said that the merged company will be "one of the largest and most diversified" logistics and shipping technology platforms, bringing together leaders in shipping software and physical freight brokerage to create an artificial intelligence-enabled end-to-end logistics solution. "Our mission has always been to enable our customers' growth," said Auctane CEO Al Ko. "By uniting Auctane's intelligent shipping platform with WWEX Group's parcel and freight service offerings and scale, we are creating the most powerful end-to-end logistics ecosystem in the market, one that will redefine what's possible for modern shippers." The deal is expected to close in the second quarter of 2026, subject to customary closing conditions. Kirkland & Ellis LLP is advising Thoma Bravo and Auctane. Latham & Watkins LLP is advising CVC and WWEX Group, with a corporate deal team led by partners Paul Kukish, Michael Vardanian, and Matthew Villar.

Mar 3

2 min

MergerLinks, a leading global media and knowledge platform for the broad corporate community, including merger and acquisitions, finance, and other material transactions impacting global commerce, has recognized the firm and thirteen partners for market-leading work across practices. The firm as a whole was ranked “Top,” the highest honor, in three categories: “Legal Advisors in North America,” “Legal Advisors to Private Equity deals in North America,” and “Legal Advisors to Mid Cap deals in North America.” Individually, Latham partners were honored across 10 categories: Top M&A Lawyers in North America: Charles Ruck, who was ranked first Tad Freese Top Antitrust Lawyers in North America: Jason Cruise Michael Egge Top Female M&A Lawyers in North America: Lisa Watts Amanda Reeves Top Intellectual Property Lawyers in North America Anthony Klein Top Financing Lawyers in North America Haim Zaltzman Top Healthcare Lawyers in North America: Charles Ruck Top Mid Cap M&A Lawyers in North America: Jason Silvera Top Private Equity Lawyers in North America Charles Ruck Howard Sobel Top Tax Lawyers in North America Lisa Watts Grace Lee Samuel Weiner Top Technology Lawyers in North America: Tad Freese, who was ranked first Jonathan Solomon Latham’s M&A Practice advises on transactions worldwide, offering clients the resources of a global firm, while maintaining an on-the-ground understanding of substantive legal matters, local markets, and industry-specific issues.~~

Mar 18

1 min

Private equity firm Irving Place Capital (IPC) has completed the sale of Alpha Packaging (Alpha), a leading provider of bottles and jars serving the health & wellness markets as well as other attractive, growing markets, to Pretium Packaging, a portfolio company of Clearlake Capital Group, L.P. Latham & Watkins LLP represented IPC and Alpha in the transaction with a corporate deal team led by partners Howard Sobel, David Kurzweil, and Eyal Orgad, with associates Daniel Williams, Wayne Yu, and Mack Weber. Advice was also provided on tax matters by partner Jocelyn Noll, with associate Anne McGinnis, and on benefits and compensation matters by partner Austin Ozawa, with associate Daniel Gocek. All lawyers are based in the firm’s New York office, with the exception of Mr. Yu in Washington, D.C. and Mr. Gocek in Chicago.~~

Oct 1

1 min

Life Time Group Holdings, Inc., a leading lifestyle brand offering premium health, fitness, and wellness experiences, has announced the pricing of its initial public offering of 39,000,000 shares of its common stock, at a public offering price of US$18.00 per share. Shares of Life Time common stock are expected to begin trading on The New York Stock Exchange under the symbol LTH on October 7, 2021. The offering is expected to close on October 12, 2021, subject to the satisfaction of customary closing conditions. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 5,850,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Latham & Watkins LLP represents Life Time in the offering with a capital markets team led by Washington, D.C. and New York partner Jason Licht, with Washington, D.C. associates Jessica Lennon, Isabel Rivera, and Thalia Garcia. Advice was provided on corporate matters by New York partners Howard Sobel and John Giouroukakis, with New York associate Dianna Lee; on benefits & compensation matters by New York partner Austin Ozawa, with New York associates Alisa Hand and Jaye Han; on tax matters by Chicago partners Joseph Kronsnoble and Rene de Vera, with Chicago associate Chris Ohlgart; and on public company representation matters by Washington, D.C. partner Brian Miller, with Washington, D.C. associates Will Hackett and Sara Almousa.~~

Oct 7

1 min

Private equity firm Irving Place Capital (IPC) has completed the sale of Mold-Rite Plastics (Mold-Rite), a leading provider of caps, closures, and jars principally for the health & wellness market, to Clearlake Capital Group, L.P. Latham & Watkins LLP represented IPC in the transaction with a corporate deal team led by partners Howard Sobel, David Kurzweil, and Eyal Orgad, with associates Daniel Williams, Wayne Yu, and Mack Weber. Advice was also provided on tax matters by partner Jocelyn Noll, with associate Anne McGinnis, and on benefits and compensation matters by partner Austin Ozawa, with associate Daniel Gocek. All lawyers are based in the firm’s New York office, with the exception of Mr. Yu in Washington, D.C. and Mr. Gocek in Chicago.~~

Oct 5

1 min