Permira’s $1.75 Billion Acquisition of Duff & Phelps

UBS Investment Bank acted as exclusive financial advisor to the Permira funds and provided committed financing; Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor. Evercore acted as the financial advisor; Kirkland & Ellis and Morgan, Lewis & Bockius acted as legal advisors. Wachtell, Lipton, Rosen & Katz acted as legal advisor of Carlyle, Neuberger Berman, University of California

Duff & Phelps, the premier global valuation and corporate finance advisor, and Permira, the global private equity firm, today announced that a company backed by the Permira funds has agreed to acquire Duff & Phelps for $1.75 billion. Selling equity holders include The Carlyle Group, Neuberger Berman, the University of California’s Office of the Chief Investment Officer of the Regents and Pictet & Cie. As part of the transaction, the Duff & Phelps management team will maintain a significant equity stake in the firm and will continue to lead the company in their current roles. The transaction is subject to customary conditions and is expected to close in the first quarter of 2018.

Duff & Phelps advises clients on a range of strategic and complex business challenges in the areas of valuation, corporate finance, disputes and investigations, compliance and regulatory matters, and other governance-related issues. The firm has approximately 2,000 client service professionals located throughout offices in the Americas, Europe and Asia, with longstanding client relationships that include more than 50% of the companies in the S&P 500, and more than 70% of top-tier private equity firms, law firms and hedge funds.

Skadden advised Permira with M&A partners Kenton King (Picture), Sonia Nijjar and Allison Schneirov; Banking partner Kristine Dunn; Executive Compensation and Benefits partners Regina Olshan and Joseph Penko; Tax partner Gavin White; Intellectual Property and Technology partner Bruce Goldner; Investment Management partners Heather Cruz and Stephen Sims and counsel Patrick Brandt; and Corporate associate Christopher Bors.

 

Involved fees earner: Kenton King – Skadden Arps Slate Meager & Flom; Sonia Nijjar – Skadden Arps Slate Meager & Flom; Allison Schneirov – Skadden Arps Slate Meager & Flom; Christopher Bors – Skadden Arps Slate Meager & Flom; Kristine Dunn – Skadden Arps Slate Meager & Flom; Patrick Brandt – Skadden Arps Slate Meager & Flom; Regina Olshan – Skadden Arps Slate Meager & Flom; Joseph Penko – Skadden Arps Slate Meager & Flom; Gavin White – Skadden Arps Slate Meager & Flom; Bruce Goldner – Skadden Arps Slate Meager & Flom; Heather Cruz – Skadden Arps Slate Meager & Flom; Stephen Sims – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: Permira;

 

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Author: Ambrogio Visconti