James C. Gorton

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

Seaspan Corporation (Seaspan), a wholly owned subsidiary of Atlas Corp. (Atlas or the Company) (NYSE: ATCO), has announced that the Company and Poseidon Acquisition Corp. (Poseidon) an entity formed by certain affiliates of Fairfax Financial Holdings Limited (Fairfax), certain affiliates of the Washington Family (Washington), David Sokol, Chairman of the Board of Atlas, and Ocean Network Express Pte. Ltd., and certain of their respective affiliates, completed the previously announced transaction pursuant to which Poseidon acquired all outstanding common shares of Atlas not already owned by Fairfax, Washington and Mr. Sokol. Pursuant to the terms of the Agreement and Plan of Merger, dated October 31, 2022, by and among the Company, Poseidon and Poseidon Merger Sub, Inc. (Merger Sub), Merger Sub merged with and into the Company (the Merger), with the Company continuing as the surviving company in the Merger. Latham & Watkins LLP represented Ocean Network Express Pte. Ltd. in the transaction with a corporate deal team led by New York partner David Kurzweil, with associate Julian Azran. New York partners James Gorton, Christopher Cross, and Robert Katz, with associate Sally Wu, also advised on M&A matters.~~

Mar 28

1 min

T-Mobile US, Inc. (NASDAQ: TMUS) has announced that it has officially completed its merger with Sprint Corporation to create the New T-Mobile, a supercharged Un-carrier that will deliver a transformative 5G network. The parent of the combined company is T-Mobile US, Inc., whose shares of common stock will continue to trade on the NASDAQ Global Select Market under the symbol “TMUS”. The combined company will operate under the name T-Mobile. Latham & Watkins LLP represented the committee of independent directors of T-Mobile in the transaction, providing representation and advice on corporate, finance, communications, antitrust, CFIUS, intellectual property, and compliance matters, with a corporate team led by partners Charles Ruck in New York and Orange County and Daniel Rees in Orange County. Advice was also provided on communications matters by partners James Barker and Matthew Brill in Washington, D.C. and on antitrust matters by partner Michael Egge in Washington, D.C. Latham & Watkins LLP also provided general representation to T-Mobile in connection with the transaction on corporate, benefits and compensation, tax, financing, regulatory, and compliance matters with a team led by corporate partners James Gorton and Thomas Malone in New York and Joshua Dubofsky in Silicon Valley and New York, and antitrust partner Al Pfeiffer in the Bay Area. Additionally, Latham & Watkins LLP is representing T-Mobile as lead M&A counsel in its pending deal with DISH Network Corporation to divest Sprint’s prepaid businesses and Sprint’s 800MHz Spectrum assets to DISH for approximately $5 billion with a corporate team led by New York partner David Allinson and Silicon Valley and New York partner Joshua Dubofsky, with associate Leah Sauter.~~

Apr 1

1 min

Hyundai Motor Group received clearance from the Committee on Foreign Investment in the United States (CFIUS) in connection with its US$4 billion autonomous driving joint venture with Aptiv (NYSE: APTV). CFIUS concluded that there were no unresolved national security issues with respect to the transaction, which brings together one of the industry’s most innovative vehicle technology providers and one of the world’s largest vehicle manufacturers to advance the design, development, and commercialization of SAE Level 4 and 5 autonomous technologies, furthering the partners’ leadership position in the global autonomous driving ecosystem. Latham & Watkins LLP represents Hyundai Motor Group in the transaction and advised the company on the CFIUS clearance process. The CFIUS team was led by Washington, D.C. partner Les Carnegie with associate Zachary Eddington. The corporate deal team is led by New York partner James Gorton, Seoul partner Wonsuk (Steve) Kang, Los Angeles partner David Zaheer, and New York counsel Michael Anastasio.~~

Mar 30

1 min

Based on a survey of US corporate counsel and executives, the BTI Consulting Group has featured seven Latham partners in its inaugural M&A Client Service All-Stars report. The list celebrates lawyers who have “set the standard for delivering the absolute best client service,” according to BTI Consulting, which noted the recent market challenges faced by lawyers and their clients: “Deals went virtual with no notice, negotiations and terms had to change, and the due diligence checklist grew longer. Everyone was assessing risk. And the BTI M&A Client Service All-Stars were out in front.” The Latham partners named 2021 M&A Client Service All-Stars are: John Chory James Gorton Alexander Johnson David Schwartz Jason Silvera Javier Stark Alex Voxman Latham’s M&A Practice is a global powerhouse, meeting clients’ needs on everything from routine M&A engagements to their most complex and transformational deals. The firm’s global reach, deep bench, and vast industry focus enables Latham to assemble high-quality teams that efficiently and effectively execute on the business objectives of a diversified client base.~~

Sep 21

1 min