Sullivan & Cromwell's Private Equity Group advises on private equity investments, strategic investments and exits from those investments through mergers and acquisitions and capital markets transactions.
 
The Firm's experience is the key to its success. Financing is often critical to the success of private equity transactions; S&C's private equity practice includes expertise in high-yield debt offerings, bank lending and structured financings. Clients demand transactions that address the unique concerns of investors and principals, and S&C has extensive experience structuring and organizing private equity funds and representing investors in those funds.
 
Private equity clients benefit from the Firm's expertise in a wide range of other areas, including the Firm's M&A, employee benefits, environmental law, insurance, intellectual property, litigation, capital markets, bank lending, structured finance and tax practices. Sullivan & Cromwell is also one of the world leaders in real estate private equity transactions.
 
S&C has local law capabilities in France, Germany, Japan, China and the United Kingdom. This international presence allows the Firm to provide highly integrated advice on cross-border deals. In Asia, S&C's private equity practice works out of Beijing, Hong Kong and Tokyo—a presence that few other firms can match.
 

SELECTED REPRESENTATIONS

Sullivan & Cromwell’s recent private equity experience includes representations of:
  • Advance/Newhouse, part of the Advance/Newhouse group of publishing and communications companies controlled by the Newhouse family, as the largest shareholder in Discovery Communications, in connection with Discovery’s $14.6 billion acquisition of Scripps Interactive
     
  • Apollo Education Group in its $1.14 billion acquisition by a consortium of private equity investors
     
  • Apollo Global Management and CVC Capital Partners, in their $1.3 billion acquisition of Brit Insurance Holdings
     
  • Apple Tree Partners as the majority shareholder in Syntimmune, in connection with Syntimmune’s pending acquisition by Alexion Pharmaceuticals for up to $1.2 billion
     
  • ARAMARK Chairman and CEO Joseph Neubauer in the $8.3 billion leveraged buyout of ARAMARK led by Mr. Neubauer and a group of four private equity sponsors, and in subsequent secondary sales following ARAMARK’s IPO
     
  • Ares Management in connection with its managed funds’ $1.45 billion strategic partnership with DuPage Medical Group
     
  • Ares Management and Ascribe Capital, as significant holders of Boart Longyear Limited’s (BLY) secured and unsecured debt, in connection with the recapitalization of BLY
     
  • Ares Management and Ontario Teachers’ Pension Plan Board in their acquisition of The AZEK Company (formerly CPG International Inc.) by their affiliated funds, and The AZEK Company in its acquisition of Versatex, its bolt-on acquisition of UltraLox and in ongoing corporate advice
     
  • California Resources in its $825 million infrastructure joint venture and equity investment with Development Capital Resources
     
  • Canada Pension Plan Investment Board in multiple transactions including its $1.2 billion acquisition of Parkway
     
  • CapGen Capital Group, as a 22% holder of Xenith Bankshares in connection with Xenith’s acquisition by Union Bankshares and in connection with CapGen’s participation as a selling shareholder in the sale of its shares in Seacoast Banking Corporation of Florida
     
  • CIC Capital, as a member of a consortium led by Brookfield Infrastructure and Brookfield Asset Management, in its acquisition of a 90% ownership interest in Nova Transportadora do Sudeste from Petróleo Brasileiro for a total consideration of $5.2 billion
     
  • CSM Bakery Solutions, a portfolio company of Rhône Capital, in the sale of its BakeMark business to Pamplona Capital Management
     
  • CyrusOne in its $442 million purchase of Zenium Data Centers from Quantum Strategic Partners, a private investment fund managed by Soros Fund Management
     
  • GGP in its $28 billion acquisition by Brookfield Property Partners
     
  • Goldman Sachs Group, through its principal investment area GSPIA, in the $1.3 billion purchase of Ontex by Goldman and TPG Capital from Candover Investments
     
  • Joe Tsai, executive vice chairman and co-founder of Alibaba Group, in his purchase of a 49% interest in the Brooklyn Nets from owner Mikhail Prokhorov
     
  • KKR & Co. in its agreement with the Related Companies and Oxford Properties to purchase approximately 343,000 square feet, the top 10 office floors, at 30 Hudson Yards and various financing arrangements relating to such purchase
     
  • Lion Capital in its acquisition of a minority interest in Authentic Brands from certain of Authentic Brand’s shareholders and its $1.5 billion sale of Bumble Bee Foods to Thai Union Frozen Products, later withdrawn
     
  • Independent directors of NRG Yield in its sponsor NRG Energy’s $1.375 billion sale of 100% of its controlling interest in NRG Yield to an equity fund of Global Infrastructure Partners
     
  • Consortium comprising OMERS Infrastructure Management, Canada Pension Plan Investment Board, and Ontario Teachers’ Pension Plan in its acquisition of Skyway Concession Company
     
  • Ontario Teachers’ Pension Plan Board in its acquisitions of PODS and SeaCube Container
     
  • Panera in its $7.5 billion acquisition by JAB
     
  • Platinum Equity in connection with its acquisition of a controlling equity stake, along with other noteholders, in the reorganization of Key Energy Services
     
  • Qatar Investment Authority, as a member of a consortium, in the consortium’s $6.9 billion pending acquisition of Dun & Bradstreet
     
  • Qatar Investment Authority and Colony Capital’s portfolio company, Filmyard Holdings, parent company of Miramax, in connection with its sale to beIN MEDIA GROUP
     
  • Rhône Capital in connection with its affiliated investments funds’ $560 million acquisition of Fogo de Chão; its acquisition of Apax Partner’s remaining shares of the parent company of Garda World Security Corporation; and in its $1.2 billion acquisition of 100% of the share capital of Zodiac   Pool Solutions from a fund affiliated with the Carlyle Group and the subsequent combination of Zodiac and Fluidra
     
  • SPO Partners in the $900 million sale of its aggregates business, Aggregates USA, to Vulcan Materials and in its investment in shares of Series C Liberty Media common stock in connection with Liberty’s acquisition of Formula 1
     
  • Stryker Corporation in its $2.8 billion acquisition of Sage Products from Madison Dearborn Partners
     
  • Temasek in various equity and credit investments, including its investment in Creative Artists Agency
     
  • Tinicum Capital in multiple transactions including its acquisitions of Astrodyne, outdoor advertising/billboard assets from Clear Channel and Bristol Industries, through its portfolio company Consolidated Aerospace Manufacturing; and its sales of Enesco to Balmoral Funds and its portfolio company, Skyway Towers, to American Towers
     
  • VeriFone in its $3.4 billion acquisition by Francisco Partners
     
  • Verily Life Sciences, an Alphabet company, in its sale of a minority interest to Temasek, pursuant to which Temasek invested $800 million in Verily
     
  • Whitehall Street Global Real Estate Limited Partnership 2007 (a real estate private equity fund managed by Goldman Sachs) and its portfolio company, American Casino & Entertainment Properties (ACEP), in the $880 million sale of ACEP to Golden Entertainment