Clearlake Capital Group’s Equity Investment in RSA Security LLC

Sidley Austin LLP advised Clearlake Capital Group, L.P on the deal, while Davis Polk advised RSA Security and a consortium led by Symphony Technology Group.

Clearlake Capital Group, L.P. announced its significant equity investment in RSA Security LLC. RSA is a global provider of mission critical cybersecurity software and governance risk and compliance management software solutions to enterprises, including 90% of Fortune 100 organizations.

With this investment, Clearlake will become an equal partner with Symphony Technology Group, which initially acquired the business in 2020 alongside Ontario Teachers’ Pension Plan Board from Dell Technologies. Ontario Teachers’ will remain a significant minority stakeholder.

The transaction is expected to close after satisfaction of regulatory clearances and customary closing conditions.

Clearlake is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies.

STG is the private equity partner to market leading companies in data, software and analytics. Ontario Teachers’ is the administrator of Canada’s largest single-profession pension plan, with C$204.7 billion in net assets (all figures at June 30, 2020 unless noted).

The Sidley team was led by Mehdi Khodadad (Picture), Nicolai Schwarz-Gondek, and Mark Castiglia (M&A and Private Equity), and included Jim Warczak, Jackson Long, and J.D Swancoat (M&A and Private Equity); Eric Kauffman (Employment); Chris Brause and Jonathan Westreich (Tax); Karen Kazmerzak, Ken Daly, Elizabeth Chen, Jakob Dewispelaere, and Matthew Simpson (Antitrust/Competition); Stacy Crosnicker and Sarah Recktenwald (Employee Benefits and Executive Compensation); Kyle Barnett (Technology and IP Transactions); Mark Prior and Ash Nagdev (Privacy and Cybersecurity); and Sven De Knop, Howard Stanislawski, Alessandra Moroni, Justine Fassion, and Ines Willemyns (International Trade).

Davis Polk advised RSA Security and a consortium led by Symphony Technology Group with partners John D. Amorosi and Darren M. Schweiger and associates Arthur M.T. Burke, Michael Gilson, Ashtyn Ka and Jessica Brodman. Partner Sartaj Gill and associate Jack Orford provided finance advice. Partner David H. Schnabel provided tax advice. Partner Adam Kaminsky provided executive compensation advice. 

Involved fees earner: John Amorosi – Davis Polk & Wardwell; Jessica Brodman – Davis Polk & Wardwell; Arthur Burke – Davis Polk & Wardwell; Sartaj Gill – Davis Polk & Wardwell; Michael Gilson – Davis Polk & Wardwell; Ashtyn Ka – Davis Polk & Wardwell; Adam Kaminsky – Davis Polk & Wardwell; Jack Orford – Davis Polk & Wardwell; David Schnabel – Davis Polk & Wardwell; Darren Schweiger – Davis Polk & Wardwell; Kyle Barnett – Sidley Austin LLP; Christian Brause – Sidley Austin LLP; Mark Castiglia – Sidley Austin LLP; Elizabeth Chen – Sidley Austin LLP; Stacy Crosnicker – Sidley Austin LLP; Ken Daly – Sidley Austin LLP; Sven De Knop – Sidley Austin LLP; Jakob Dewispelaere – Sidley Austin LLP; Justine Fassion – Sidley Austin LLP; Eric Kauffman – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Mehdi Khodadad – Sidley Austin LLP; Jackson Long – Sidley Austin LLP; Alessandra Moroni – Sidley Austin LLP; Ash Nagdev – Sidley Austin LLP; Mark Prior – Sidley Austin LLP; Sarah Recktenwald – Sidley Austin LLP; Nicolai Schwarz-Gondek – Sidley Austin LLP; Howard Stanislawski – Sidley Austin LLP; J.D. Swancoat – Sidley Austin LLP; Jim Warczak – Sidley Austin LLP; Jonathan Westreich – Sidley Austin LLP; Ines Willemyns – Sidley Austin LLP;

Law Firms: Davis Polk & Wardwell; Sidley Austin LLP;

Clients: Clearlake Capital Group, L.P.; RSA Security LLC ; Symphony Technology Group;

Author: Martina Bellini