Peter Stach, P.C.

Kirkland & Ellis represented Instructure Holdings, Inc. (NYSE: INST), a leading learning ecosystem, on its definitive agreement to be acquired by investment funds managed by KKR, a leading global investment firm, for $23.60 per share in an all-cash transaction valued at an enterprise value of approximately $4.8 billion. The per-share purchase price represents a premium of 16 percent over Instructure's unaffected share price of $20.27 as of May 17, 2024, the last trading day prior to media reports regarding a potential transaction. KKR, with participation from Dragoneer Investment Group, will acquire all outstanding shares, including those shares owned by Instructure's existing majority owner, Thoma Bravo, a leading software investment firm, which acquired the company in 2020 and took it public in 2021. Kirkland represented Thoma Bravo in the 2020 acquisition and Instructure in its IPO. Read the transaction press release The Kirkland team was led by corporate partners Peter Stach, Brad Reed and Jeremy Mandell; capital markets partner Michael Keeley; debt finance partner Fred Lim; tax partners Adam Kool and Mike Conroy; and technology and IP transactions partner Aaron Lorber.

Jul 25

1 min

Kirkland & Ellis advised LogRhythm, the company helping security teams stop breaches by turning disconnected data and signals into trustworthy insights, on its merger agreement with Exabeam, a global cybersecurity leader that delivers AI-driven security operations. The merger is expected to close in the third quarter of 2024 and is subject to regulatory approvals and customary closing conditions. Read LogRhythm’s press release The Kirkland team was led by corporate partners Peter Stach, Kristen Molloy and Corey Fox and associate Josephine Bae; debt finance partner Fred Lim and associate Alex Straka; tax partner Adam Kool; and technology & IP transactions partner Aaron Lorber.

May 16

1 min

Kirkland & Ellis counseled Adenza, a provider of mission-critical risk management and regulatory software to the financial services industry, a portfolio company of Thoma Bravo, a leading software investment firm and long-time Kirkland client, on its definitive agreement to be acquired by Nasdaq, Inc. (Nasdaq: NDAQ), a technology company serving the global financial system, for $10.5 billion in cash and shares of common stock. Read Nasdaq’s press release The Kirkland team was led by corporate partners Peter Stach, Corey Fox and Brett Nelson and associates Jeremy Mandell and Sophie Daroff; capital markets partners Brad Reed, Michael Keeley and Cot Eversole; debt finance partners Fred Lim and Patrick Loughery; tax partners Kevin Coenen and Adam Kool; and technology and intellectual property transactions partner Aaron Lorber and associate Jessie Perlman.

Jun 12

1 min

Kirkland & Ellis advised an affiliate of funds advised by SK Capital Partners, LP (SK Capital), on its agreement to acquire Apotex Pharmaceutical Holdings Inc. (Apotex), a Canadian, global pharmaceutical company that produces high-quality, affordable generic medicines across all major therapeutic areas for patients around the world. Closing of the transaction is subject to the satisfaction of customary regulatory conditions. Read the SK Capital press release The Kirkland team was led by corporate partners Matthew Arenson, Peter Stach and Jeremy Liss and associates Justin Joffe, Rebecca Hart, Alexei Julian Segall and Constance Raftis, tax partners Benjamin Schreiner and Timothy Campany and associate Mike Shelton, debt finance partner Tom Dobleman and associates Lee Discher and Matthew Kita, derivatives partner Jaime Madell, rep and warranty insurance partner Hayley Hollender, employee benefits partner Jeffrey Quinn and associate Iris Grossman, executive compensation partners Michael Falk and Jake Ebers and associate Jenny Cha, labor and employment partners Evangelia Podaras and Paul Vasiloff, environmental transactions partners Jonathan Kidwell and Ty'Meka Reeves-Sobers and associate Kami Jones, real estate partner Joshua Faulkner and associates Kelly Bershader and Adam Amdur, technology & IP transactions partners Aaron Lorber and David MacDonald and associates Amy Barber, Bijan Motiwalla and Trevor Snider, healthcare regulatory partners Dennis Williams and Katie Sullivan and associates Dylan Mason and Kelly McGinnis, antitrust partners Thomas Wilson, Phillip Gnatzy, Carla Hine and Molly Kelley and associate Lucy Mahon, international trade and national security partner Mario Mancuso and associates Billy Phalen and Anais Bourbon, IP litigation partners Gianni Cutri, Jeanna Wacker and Chris Jagoe, litigation partners James Mutchnik, Martin Roth and Paul Sampson and associates Nick Ruge and Sarah Kimmer, and government contracts partner Robert Ryland.

Sep 28

1 min

Kirkland & Ellis advised Instructure Holdings, Inc. (NYSE: INST), the leading learning platform and maker of Canvas, on its definitive agreement to acquire Parchment, the world's largest academic credential management platform and network, for approximately $835 million. Parchment has more than 15,000 customers and has exchanged more than 165 million credentials over two decades and its acquisition is anticipated to significantly expand Instructure's existing customer base and unlock exciting new growth opportunities. The transaction is expected to close in the first quarter of 2024, subject to regulatory approval and customary closing conditions. Read Instructure’s press release The Kirkland team was led by corporate partners Peter Stach and Steven Page and capital markets partners Michael Keeley and Brad Reed, with assistance from corporate associates Jaisel Patel, Russell Howland, Becky Henz and Jeremy Hsiao; capital markets partner Cot Eversole; debt finance partner Brian Ford; tax partners Adam Kool and Rory Minnis; and technology & IP transactions partners Aaron Lorber and Jeff Seroogy.

Nov 1

1 min