H&R Block’s $405 Million Acquisition Of Wave Financial


Weil advised H&R Block, Inc. in its $405 million acquisition of Wave Financial Inc. (Wave).

The acquisition expands H&R Block’s product and client portfolio and enhances its position in the small business market. Following the closing of the transaction, Wave will maintain its leadership team, including Kirk Simpson, operating independently within H&R Block from its headquarters in Toronto, Ontario. The transaction is expected to close within the next few months, subject to customary closing conditions.

H&R Block, Inc., through its subsidiaries, provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions, and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, and Australia.

Wave Financial Inc. (Wave) is a provider of payment processing, payroll services and bookkeeping services bundled with free accounting, invoicing, and receipt-tracking software for small business owners.

The Weil team advising H&R Block was led by Mergers & Acquisitions partner Raymond Gietz (Picture) and included Mergers & Acquisitions associates Dov Kogen, Michael Chenkin and William Rosemberg (Not Yet Admitted in New York). The team also included Capital Markets partner Corey Chivers; Technology & IP Transactions partner Jeffrey Osterman; Tax partner Devon Bodoh; Executive Compensation & Benefits partner Amy Rubin; Insurance counsel Gabriel Gershowitz; Environmental counsel Thomas Goslin; Antitrust counsel Vadim Brusser; Technology & IP Transactions associates Phillip Grudzina and Rami Sherman; Tax associates Eric Remijan, Irene Kim and Steven Ort; and White Collar Defense, Regulatory and Investigations associate Timothy Welch.

Involved fees earner: Devon Bodoh – Weil, Gotshal & Manges; Vadim Brusser – Weil, Gotshal & Manges; Michael Chenkin – Weil, Gotshal & Manges; Corey Chivers – Weil, Gotshal & Manges; Gabriel Gershowitz – Weil, Gotshal & Manges; Raymond Gietz – Weil, Gotshal & Manges; Thomas Goslin – Weil, Gotshal & Manges; Phillip Grudzina – Weil, Gotshal & Manges; Irene Kim – Weil, Gotshal & Manges; Dov Kogen – Weil, Gotshal & Manges; Steven Ort – Weil, Gotshal & Manges; Jeffrey Osterman – Weil, Gotshal & Manges; Eric Remijan – Weil, Gotshal & Manges; William Rosemberg – Weil, Gotshal & Manges; Amy Rubin – Weil, Gotshal & Manges; Rami Sherman – Weil, Gotshal & Manges; Timothy Welch – Weil, Gotshal & Manges;

Law Firms: Weil, Gotshal & Manges;

Clients: H&R Block;