Thoma Bravo’s Financing For The Acquisition Of Sophos

Latham & Watkins advised lenders on the deal.

Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors, has completed its acquisition of Sophos, a global leader in next-generation cybersecurity. The cash transaction values Sophos at approximately US$3.9 billion.

A syndicate of international investment banks led by Goldman Sachs provided the US$1.53 billion equivalent first lien term loan and US$125 million revolving credit facilities and a club of direct lenders comprising Owl Rock Capital, Ares Capital, and PSP Investments provided the US$420 million second lien facility provided in connection with the acquisition.

Latham & Watkins advised the first lien lenders with New York finance partner Alf Xue (Picture), with counsel Bryce Schunke and associates Lillian Xiao and Gloria Torres Zavaleta, and London finance partners Mo Nurmohamed and Manoj Bhundia, with associate Carry Chen and trainee Hadi Najem. The second lien lenders were advised by New York finance partners Chris Plaut and David Teh, with associates Aditi Sharma, Michael Waldman, and Katherine Page, and London finance partner Stephen Kensell, with associate Robert Davidson. Advice was also provided on M&A matters by London partner Richard Butterwick, with associate Ben Coleman; on tax matters by New York partner Jiyeon Lee-Lim, with associate Amy Robertson, and London partner Karl Mah, with associate Magdalena Nasuto.

Involved fees earner: Manoj Bhundia – Latham & Watkins; Richard Butterwick – Latham & Watkins; Qi Rui Chen – Latham & Watkins; Ben Coleman – Latham & Watkins; Robert Davidson – Latham & Watkins; Stephen Kensell – Latham & Watkins; Jiyeon Lee-Lim – Latham & Watkins; Karl Mah – Latham & Watkins; Magdalena Nasuto – Latham & Watkins; Mohamed Nurmohamed – Latham & Watkins; Katherine Page – Latham & Watkins; Christopher Plaut – Latham & Watkins; Amy Robertson – Latham & Watkins; Bryce Schunke – Latham & Watkins; Aditi Sharma – Latham & Watkins; David Teh – Latham & Watkins; Gloria Torres Zavaleta – Latham & Watkins; Michael Waldman – Latham & Watkins; Lillian Xiao – Latham & Watkins; Alfred Xue – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Ares Capital Corporation ; Goldman Sachs; Owl Rock Capital Corporation; Psp Investments;

Author: Ambrogio Visconti