A team of lawyers from global law firm K&L Gates LLP represented Focus Financial Partners Inc., a leading partnership of independent, fiduciary wealth management firms, on its acquisition by funds affiliated with Clayton, Dubilier & Rice, LLC and Stone Point Capital LLC in an all-cash transaction with an enterprise value in excess of US$7 billion. With the completion of the transaction, Focus Financial’s common stock has ceased trading and is no longer listed on NASDAQ.
Led by New York partner Robert Sichel, the K&L Gates team included Chicago partner Brent Williams, Boston partners Todd Gibson, Trayne Wheeler, and Grant Butler, Chicago associates Jake Annunziata and Matt King, Washington, D.C., associate Jessica Cohn, Miami associate Erin Pearson, and New York associate Jane Steffens, along with many other lawyers from the firm’s offices around the globe.
“We are delighted to work with the Focus Financial legal team on this important transaction,” said Sichel. “The broad depth and experience of our Asset Management and Investment Funds and Corporate practice groups was needed for a transaction involving regulated entities servicing institutional and retail clients as well as registered and private funds. I am excited for Focus Financial’s next chapter.”
Rusty McGranahan, general counsel of Focus Financial, added: “K&L Gates effectively and efficiently assisted us in obtaining required regulatory approvals and managed a complex client consent process with the utmost professionalism. The team gave me a sense of confidence that these matters would be handled timely with minimal client attrition.”
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