How Can a Private Equity Attorney Get Your Deal Done?
If you are working to raise capital in a private equity transaction, can a private equity attorney help to get your deal done quickly and effectively? If you look for the right qualities, a private equity attorney may be able to help you efficiently overcome complex structuring and regulatory issues.
Ask about experience
An experienced private equity attorney will understand both sides of the deal, having represented management teams building great companies and the private equity firms and individuals that invest in them. You can expect a private equity attorney to have experience with fund formations and operations; leveraged buyouts, roll-ups, build-ups, and consolidations; portfolio company divestitures and other exits; and equity and debt financings.
Ask your prospective attorney to share a list of representative deals. He or she should be able to walk you through this list, and discuss deals similar to yours in size and scope.
Look for market knowledge
Ask the attorney if he or she has experience doing deals across the U.S. This is important because insights on emerging trends in deal structures and formations often take shape on the coasts and make their way inward. Experience across the U.S., and especially in the nation’s financial capital of New York, means that your attorney can provide further market knowledge on innovative deal structures.
Also consider the size of the market for your transactions. If you are looking to do a middle market transaction, look for an attorney who understands the often unique dynamics of this space.
Will you need portfolio management?
Funds often need outside general counsel for most of their portfolio companies. Consider looking for a private equity attorney who can carry his or her services through to your portfolio companies. This continuity helps portfolio company boards and their management teams stay on track to meet their financial goals, from acquisition through disposition of the company.
Outside general counsel services include day-to-day legal issues, add-on acquisitions or divestitures and the eventual sale of the company. Day-to-day legal issues may include intellectual property, tax and corporate finance along with employee benefits and other personnel-related issues. Ask your private equity attorney about the other capabilities of his or her law firm. You want your attorney to have a full-service law firm to draw on for added experience.
An experienced private equity attorney with broad market knowledge and portfolio management capabilities may be able to help you get your deal done quickly, and to meet your long-term financial goals.
About the authors
Adam Calisoff is a partner in the Chicago office of Ice Miller LLP, working in the Business Group. He represents private equity firms and privately held businesses in mergers, acquisitions and divestitures. Adam also serves as outside general counsel for a number of portfolio companies of private equity clients and privately held businesses. He can be reached at 312-726-2505 or email@example.com.
Ed Braum is a partner in the Ice Miller Business Group and leads the group's Private Equity practice. Ed represents private equity firms and privately held businesses in mergers, acquisitions, divestitures, joint ventures and other complex transactions. Ed also serves as outside general counsel for a number of portfolio companies of private equity clients and privately held businesses. He can be reached at 614-462-1098 or firstname.lastname@example.org.
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader should consult with legal counsel to determine how laws or decisions discussed herein apply to the reader’s specific circumstances.