Onex Corporation’s $317 Million Acquisition of a 42% interest in Ryan, LLC


BofA Merrill Lynch acted as financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to Onex. Baker & McKenzie LLP acted as legal advisor to Ryan.

Onex Corporation (“Onex”) (TSX: ONEX) acquired a 42% interest in Ryan, LLC (“Ryan”) for $317 million, which values the company at $1.1 billion.

Headquartered in Dallas, Texas, Ryan is a leading global tax services and software provider with an integrated suite of federal, state, local, and international tax services, and is the largest firm in the world dedicated exclusively to business taxes. Its multi-disciplinary team of more than 2,200 professionals and associates serves over 14,000 clients, including many of the world’s most prominent companies.

Onex invested $86 million of equity as a limited partner in Onex Partners IV. Onex expects to begin accruing fees on Onex Partners V, a $7.15 billion fund raised in 2017, once its previously announced acquisition of KidsFoundation closes later this year.

The Fried Frank team was led by corporate partners Daniel J. Bursky (Picture) and David L. Shaw and included corporate partners Christopher Ewan, Mark S. Hayek, and Meredith L. Mackey; executive compensation and ERISA partner Jeffrey Ross; litigation partner Joshua D. Roth; tax partner Alan Kaden; intellectual property and technology special counsel Jason L. Greenberg; corporate associates Mason L. Allen, Shanta Chirravuri, Adam B. Cohen, Moshe A. Cohen, Jacqueline Punjabi, Justin A. Schenck, Ezra Schneck, and Charles Stern; corporate real estate associate James Gandia; antitrust associate Neda Moussavi; executive compensation and ERISA associate Stephanie Matko; intellectual property and technology associate Daniel E. Stern; litigation associate Nicole R. Love; tax associates Ryan L. Conley and Jessica Yeh; corporate law clerks Annie Chen and Joann S. Park; and executive compensation and ERISA law clerk Arielle F. Evans.

Baker McKenzie acted as lead legal advisor to Ryan LLC with a team including Steven G. Canner, Kevin E. Maher, Steven R. Schneider, Carol B. Stubblefield, Aaron N. Rice, Creighton Macy, Jae Hyung Cho, Jonathan S. Farrokhnia, Pamela T. Church, Alysha Preston, John J. Fedele, Tanner Bodine, Maura Ann McBreen, Carole A. Spink, Brandon Moseberry, Sam Kamyans, Nicholas Marchica, Emeka Charles Chinwuba and Brandon Zelasko

Involved fees earner: Daniel Bursky – Fried Frank Harris Shriver & Jacobson; David Shaw – Fried Frank Harris Shriver & Jacobson; Christopher Ewan – Fried Frank Harris Shriver & Jacobson; Mark Hayek – Fried Frank Harris Shriver & Jacobson; Meredith Mackey – Fried Frank Harris Shriver & Jacobson; Mason Allen – Fried Frank Harris Shriver & Jacobson; Shanta Chirravuri – Fried Frank Harris Shriver & Jacobson; Adam Cohen – Fried Frank Harris Shriver & Jacobson; Moshe Cohen – Fried Frank Harris Shriver & Jacobson; Jacqueline Punjabi – Fried Frank Harris Shriver & Jacobson; Justin Schenck – Fried Frank Harris Shriver & Jacobson; Ezra Schneck – Fried Frank Harris Shriver & Jacobson; Charles Stern – Fried Frank Harris Shriver & Jacobson; Jeffrey Ross – Fried Frank Harris Shriver & Jacobson; Stephanie Matko – Fried Frank Harris Shriver & Jacobson; Joshua Roth – Fried Frank Harris Shriver & Jacobson; Nicole Love – Fried Frank Harris Shriver & Jacobson; Alan Kaden – Fried Frank Harris Shriver & Jacobson; Ryan Conley – Fried Frank Harris Shriver & Jacobson; Jessica Yeh – Fried Frank Harris Shriver & Jacobson; Jason Greenberg – Fried Frank Harris Shriver & Jacobson; Daniel Stern – Fried Frank Harris Shriver & Jacobson; Neda Moussavi – Fried Frank Harris Shriver & Jacobson; Steven Canner – Baker McKenzie; Kevin Maher – Baker McKenzie; Carol Stubblefield – Baker McKenzie; Aaron Rice – Baker McKenzie; Jae Hyung Cho – Baker McKenzie; Jonathan Farrokhnia – Baker McKenzie; Tanner Bodine – Baker McKenzie; Nicholas Marchica – Baker McKenzie; Brandon Zelasko – Baker McKenzie; Steven Schneider – Baker McKenzie; Sam Kamyans – Baker McKenzie; Creighton Macy – Baker McKenzie; John Fedele – Baker McKenzie; Pamela Church – Baker McKenzie; Alysha Preston – Baker McKenzie; Emeka Charles Chinwuba – Baker McKenzie; Maura Ann McBreen – Baker McKenzie; Carole Spink – Baker McKenzie; Brandon Moseberry – Baker McKenzie;

Law Firms: Fried Frank Harris Shriver & Jacobson; Baker McKenzie;

Clients: Onex Corporation; Ryan, LLC;

Author: Ambrogio Visconti