Blackstone’s $500 million Investment in TaskUs


Simpson Thacher advised Blackstone in connection with its announced investment in TaskUs, Inc.

Private Equity funds managed by Blackstone (NYSE: BX) have entered into a definitive agreement to invest in TaskUs, a leading customer service and business process outsourcing services provider for high-growth technology companies. The investment, before funding, values TaskUs at more than $500 million.

Founded in 2008 by Bryce Maddock and Jaspar Weir, TaskUs is one of the fastest-growing companies in its industry globally. Their business process solutions, which leverage the latest technology, including AI, advanced Learning Management Systems and big data, help companies quickly scale. TaskUs will continue to be led by Mr. Maddock, Mr. Weir, and the existing management team, who have been instrumental in driving the company’s growth.

The transaction is expected to close in the fourth quarter of 2018, subject to regulatory approvals and customary closing conditions.

The Simpson Thacher team included Mike Wolfson (Picture), Anthony Vernace, Michael Ting and Ngozi Nezianya (M&A); Brian Gluck, Rustin Brown and Remy Denner (Credit); Steven Klar, Doug Brown and Michael Brennan (Funds); Laura Twomey, Alison Silverman and Beatrice Caplan (Trusts); Gary Mandel and Sophie Staples (Tax); Greg Grogan and Patricia Adams (Executive Compensation and Employee Benefits); Lori Lesser and Alex Moser (Intellectual Property); Tim Gallagher and Krista McManus (Real Estate); and Michael Isby (Environmental).

Involved fees earner: Michael Wolfson – Simpson Thacher & Bartlett; Anthony Vernace – Simpson Thacher & Bartlett; Michael Ting – Simpson Thacher & Bartlett; Ngozi Nezianya – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Rustin Brown – Simpson Thacher & Bartlett; Remy Denner – Simpson Thacher & Bartlett; Steven Klar – Simpson Thacher & Bartlett; Doug Brown – Simpson Thacher & Bartlett; Michael Brennan – Simpson Thacher & Bartlett; Laura Twomey – Simpson Thacher & Bartlett; Alison Silverman – Simpson Thacher & Bartlett; Beatrice Caplan – Simpson Thacher & Bartlett; Gary Mandel – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Patricia Adams – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Alexander Moser – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Blackstone;