Great Hill Partners’ Recapitalization of RxBenefits

Goodwin Procter LLP advised Great Hill Partners, while Weil, Gotshal & Manges LLP advised Advent International Corporation on the deal.

Great Hill Partners announced its recapitalization of RxBenefits that values the company at approximately $1.1 billion. With this investment, Great Hill is joined by Advent International. Great Hill and Advent now each own equal stakes in RxBenefits, alongside a significant investment from the current management team.

Great Hill Partners is a private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors.

Advent International is one of the largest and most experienced global private equity investors.

RxBenefits is the employee benefits industry’s first and only technology-enabled pharmacy benefits optimizer, with more than 500 pharmacy pricing, data, and clinical experts working together to deliver prescription benefit savings to employee benefit consultants and their self-insured clients.

The Goodwin team was led by Stuart Rosenthal (Picture) and Josh Soszynski.

The Weil team that advised Advent International was led by Private Equity partner Marilyn French Shaw and included Private Equity partner Ramona Nee and Private Equity associates Ololade Oladapo, Jason Ottomano, Molly MacDougall and Ryan Strassman. The team also included Tax partner Noah Beck; Tax associate Jacob Gerrit Meninga; Private Equity Executive Compensation & Benefits Head Michael Nissan; Executive Compensation & Benefits partner Amy Rubin; Executive Compensation & Benefits counsel Craig Olshan; Executive Compensation & Benefits associates Radhika Tahiliani and Tamara Roth; Technology & IP Transactions partner Jeffrey Osterman; Privacy partner Randi Singer; Technology & IP Transactions/Privacy associates Robert Brown, Luis Gonzalez and Maryann Thompson; Banking & Finance partners Allison Liff and Benton Lewis; Banking & Finance associate Vaishali Mahna; Environmental Head Annemargaret Connolly; Regulatory Transactions counsel John O’Loughlin; Regulatory Transactions associate Ariel Fliman; Antitrust partner Vadim Brusser; Employment Litigation partner Nicholas Pappas; and Employment Litigation associate Thomas McCarthy.

Involved fees earner: Stuart Rosenthal – Goodwin Procter; Joshua Soszynski – Goodwin Procter; Noah Beck – Weil, Gotshal & Manges; Robert Brown – Weil, Gotshal & Manges; Vadim Brusser – Weil, Gotshal & Manges; Annemargaret Connolly – Weil, Gotshal & Manges; Ariel Fliman – Weil, Gotshal & Manges; Luis Gonzalez – Weil, Gotshal & Manges; Benton Lewis – Weil, Gotshal & Manges; Allison Liff – Weil, Gotshal & Manges; Molly MacDougall – Weil, Gotshal & Manges; Vaishali Mahna – Weil, Gotshal & Manges; Thomas McCarthy – Weil, Gotshal & Manges; Jacob Meninga – Weil, Gotshal & Manges; Ramona Nee – Weil, Gotshal & Manges; Michael Nissan – Weil, Gotshal & Manges; Ololade Oladapo – Weil, Gotshal & Manges; Craig Olshan – Weil, Gotshal & Manges; Jeffrey Osterman – Weil, Gotshal & Manges; Jason Ottomano – Weil, Gotshal & Manges; John O’Loughlin – Weil, Gotshal & Manges; Nicholas Pappas – Weil, Gotshal & Manges; Tamara Roth – Weil, Gotshal & Manges; Amy Rubin – Weil, Gotshal & Manges; Marilyn French Shaw – Weil, Gotshal & Manges; Randi Singer – Weil, Gotshal & Manges; Ryan Strassman – Weil, Gotshal & Manges; Radhika Tahiliani – Weil, Gotshal & Manges; Maryann Thompson – Weil, Gotshal & Manges;

Law Firms: Goodwin Procter; Weil, Gotshal & Manges;

Clients: Advent International; Great Hill Partners LLC;

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Author: Ambrogio Visconti