Onex Corporation’s Acquisition of Vista’s PowerSchool Group Interest


Kirkland & Ellis LLP represented Vista Equity Partners on the deal

Onex Corporation (“Onex”) (TSX:ONEX) and Vista Equity Partners (“Vista”) today announced Onex will acquire a stake in PowerSchool Group LLC (“PowerSchool”) from Vista, which will also invest new capital in the business. PowerSchool is the leading education technology platform for K-12 schools. Concurrent with the Onex/Vista transaction, PowerSchool will acquire PeopleAdmin, an industry-leading provider of cloud-based talent management solutions for the education sector, creating K-12 education’s most comprehensive and integrated suite of products. The transactions are expected to close in the second half of 2018 subject to customary conditions and regulatory approvals.

PowerSchool provides best-in-class, secure and compliant online education solutions, which include the industry’s leading student information system, the Unified Classroom and school finance, HR and payroll solutions. Through the acquisition of PeopleAdmin, PowerSchool adds capabilities in talent management for K-12 and HigherEd for recruitment, onboarding and teacher professional development. Through this combination, PowerSchool will provide an end-to-end, unified platform that enables educators to streamline school operations, enhance teaching and learning activities, and more effectively engage the student and parent community at home.

Fried Frank acted as counsel to Onex Partners with a team including Daniel J. Bursky, Christopher Ewan, Mark S. Hayek, and David L. Shaw, and tax partner Michael J. Alter.

The Kirkland team was led by corporate partners Stuart Casillas (Picture), Vlad Kroll, Leah Recht, and James Beach and associates Emily Hill, Austin Pollet and Ari Levi; debt finance partners Sonali Jindal and Douglas Tedeschi; and tax partner David Kung and associate Heidi Yuen.

Involved fees earner: Daniel Bursky – Fried Frank Harris Shriver & Jacobson; Christopher Ewan – Fried Frank Harris Shriver & Jacobson; Mark Hayek – Fried Frank Harris Shriver & Jacobson; David Shaw – Fried Frank Harris Shriver & Jacobson; Michael Alter – Fried Frank Harris Shriver & Jacobson; Stuart Casillas – Kirkland & Ellis; Vlad Kroll – Kirkland & Ellis; Leah Recht – Kirkland & Ellis; James Beach – Kirkland & Ellis; Emily Hill – Kirkland & Ellis; Austin Pollet – Kirkland & Ellis; Ari Levi – Kirkland & Ellis; Sonali Jindal – Kirkland & Ellis; Douglas Tedeschi – Kirkland & Ellis; David Kung – Kirkland & Ellis; Heidi Yuen – Kirkland & Ellis;

Law Firms: Fried Frank Harris Shriver & Jacobson; Kirkland & Ellis;

Clients: Vista Equity Partners; Onex Corporation;

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Author: Ambrogio Visconti