Vacasa’s $4.5 Billion De-SPAC Business Combination with TPG Pace Solutions

Vacasa's $4.5 Billion De-SPAC Business Combination with TPG Pace Solutions

Latham & Watkins LLP represented Vacasa in the transaction, while Weil, Gotshal & Manges advised TPG Pace Solutions.

Vacasa, the leading vacation rental management platform in North America, has entered into an agreement to become a publicly traded company through a business combination with TPG Pace Solutions, a special purpose acquisition company (SPAC).

Upon closing of the transaction, the combined company is expected to be publicly traded under the ticker symbol “VCSA.” The transaction implies a pro forma equity value for Vacasa of approximately US$4.5 billion and capitalizes the business with approximately US$485 million in gross cash proceeds to fund the company’s future growth plans.

Latham & Watkins LLP represented Vacasa in the transaction with an M&A team led by New York partner Justin Hamill (Picture), Bay Area partner Eric Schwartzman, Washington, D.C. partner Nicholas Luongo, and New York counsel Michael Anastasio, with associates Shannon Cheng, Amanda Dillon, and Caitlin Nguyen. Advice was also provided on capital markets matters by New York partners Marc Jaffe and Benjamin Cohen, with associates Lindsey Mills, Lia-Michelle Keane, and Hamna Ahmad; on tax matters by Bay Area partner Katharine Moir, with associates Alan Kimball and Lukas Kutilek; on benefits and compensation matters by Bay Area partner Erin Murphy, with associate James Robinson; on finance matters by New York partner Joshua Tinkelman and New York counsel Seniz Yakut; on intellectual property matters by Bay Area partner Anthony Klein, with associate Amy Dippolito; on data privacy matters by Bay Area counsel Robert Blamires, with associate Jimmy Smith; and on antitrust matters by Bay Area partner Joshua Holian and Washington, D.C. counsel Patrick English.

The Weil team advising TPG Pace Solutions Corp. was led by Private Equity Co-Head Douglas Warner and Private Equity partner Christopher Machera and included Private Equity associates Daniel Cohen, Damian Petrovic, Nicole Chen, Pascale Nguyen (Admitted in Quebec Only) and Ali Habhab. The team also included Mergers & Acquisitions partner Raymond Gietz; Mergers & Acquisitions counsel Christina De Vuono; Mergers & Acquisitions associate Joseph Cho; International Tax Head Devon Bodoh; Tax associates Blake Bitter and Madeline Joerg (Admitted in New York Only); Banking & Finance partners Allison Liff and Benton Lewis; Banking & Finance associate Angel Torres; Capital Markets Head Alexander Lynch; Capital Markets partners Corey Chivers and Barbra Broudy; Executive Compensation & Benefits Head Paul Wessel; Executive Compensation & Benefits associate Lauren Sawyer (Not Yet Admitted in New York); Public Company Advisory Group Head Howard Dicker; Public Company Advisory Group associate Andrew Holt; Technology & IP Transactions partner Jeffrey Osterman; Technology & IP Transactions/Privacy counsel Caroline Geiger; Technology & IP Transactions/Privacy associates Robert Brown, Catherine Kim, Phillip Grudzina, Rami Sherman and Rebecca Zhang; Real Estate partner Beatriz Azcuy; Environmental Head Annemargaret Connolly; Environmental counsel Thomas Goslin; Regulatory Transactions counsel John O’Loughlin and Timothy Welch; Antitrust partner Vadim Brusser; Complex Commercial Litigation partner Susan Shin; Complex Commercial Litigation associate Aleksandra Mitchell; Securities Litigation Co-Head John Neuwirth; Employment Litigation partner Gary Friedman; and Employment Litigation associate Quinn Christie.

Involved fees earner: Lia-Michelle Keane – Davis Polk & Wardwell; Michael Anastasio – Latham & Watkins; Robert Blamires – Latham & Watkins; Shannon Cheng – Latham & Watkins; Benjamin Cohen – Latham & Watkins; Amanda Dillon – Latham & Watkins; Amy Elizabeth Dippolito – Latham & Watkins; Patrick English – Latham & Watkins; Justin Hamill – Latham & Watkins; Joshua Holian – Latham & Watkins; Ipek Seniz Yakut – Latham & Watkins; Marc Jaffe – Latham & Watkins; Alan Kimball – Latham & Watkins; Anthony Klein – Latham & Watkins; Lukas Kutilek – Latham & Watkins; Nicholas Luongo – Latham & Watkins; Lindsey Mills – Latham & Watkins; Katharine Moir – Latham & Watkins; Erin Murphy – Latham & Watkins; Caitlin Nguyen – Latham & Watkins; James Robinson – Latham & Watkins; Eric Schwartzman – Latham & Watkins; James Smith – Latham & Watkins; Joshua Tinkelman – Latham & Watkins; Beatriz Azcuy-Diaz – Weil, Gotshal & Manges; Blake Bitter – Weil, Gotshal & Manges; Devon Bodoh – Weil, Gotshal & Manges; Barbra Broudy – Weil, Gotshal & Manges; Robert Brown – Weil, Gotshal & Manges; Vadim Brusser – Weil, Gotshal & Manges; Nicole Chen – Weil, Gotshal & Manges; Corey Chivers – Weil, Gotshal & Manges; Joseph Cho – Weil, Gotshal & Manges; Quinn Christie – Weil, Gotshal & Manges; Daniel Cohen – Weil, Gotshal & Manges; Annemargaret Connolly – Weil, Gotshal & Manges; Christina De Vuono – Weil, Gotshal & Manges; Howard Dicker – Weil, Gotshal & Manges; Gary Friedman – Weil, Gotshal & Manges; Caroline Geiger – Weil, Gotshal & Manges; Raymond Gietz – Weil, Gotshal & Manges; Thomas Goslin – Weil, Gotshal & Manges; Phillip Grudzina – Weil, Gotshal & Manges; Ali Habhab – Weil, Gotshal & Manges; Catherine Kim – Weil, Gotshal & Manges; Benton Lewis – Weil, Gotshal & Manges; Allison Liff – Weil, Gotshal & Manges; Alexander Lynch – Weil, Gotshal & Manges; Christopher Machera – Weil, Gotshal & Manges; Aleksandra Mitchell – Weil, Gotshal & Manges; John Neuwirth – Weil, Gotshal & Manges; Pascale Nguyen – Weil, Gotshal & Manges; Jeffrey Osterman – Weil, Gotshal & Manges; John O’Loughlin – Weil, Gotshal & Manges; Damian Petrovic – Weil, Gotshal & Manges; Lauren Sawyer – Weil, Gotshal & Manges; Rami Sherman – Weil, Gotshal & Manges; Susan Shin – Weil, Gotshal & Manges; Angel Torres – Weil, Gotshal & Manges; Douglas Warner – Weil, Gotshal & Manges; Timothy Welch – Weil, Gotshal & Manges; Paul Wessel – Weil, Gotshal & Manges; Rebecca Zhang – Weil, Gotshal & Manges;

Law Firms: Davis Polk & Wardwell; Latham & Watkins; Weil, Gotshal & Manges;

Clients: TPG Pace Solutions; Vacasa LLC;

Martina Bellini

Author: Martina Bellini