Matthew M.
Kelly

Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with the arrangement of $1.33 billion of credit facilities made available to Concentrix Corporation to finance its pending acquisition of Webhelp. Concentrix Corporation is a leading global provider of customer experience solutions and technology. The financing closed on April 21, 2023.

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with the arrangement of $825 million term loan facility made available to Ovintiv Inc. in connection with its pending acquisition of substantially all leasehold interest and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources, which are portfolio companies of funds managed by EnCap Investments L.P., in a cash and stock transaction valued at approximately $4.275 billion. The financing closed on April 26, 2023.

On February 2, 2023, FS Investments, a pioneer in the democratization of alternative investments with more than $35 billion in assets under management, and Portfolio Advisors, a global middle‑market private asset specialist with more than $38 billion in assets under management, announced they have entered into a definitive agreement to combine their firms. The combined company will be poised for growth with over $73 billion in assets under management, including a significant permanent capital base, and a robust distribution platform. Cravath is representing FS Investments in connection with the transaction.

On December 12, 2022, BDT Capital Partners LLC (“BDT”) and Weber Inc. (“Weber”), a global leader in outdoor cooking innovation, technology and products, announced that they have entered into a definitive merger agreement pursuant to which investment funds managed by BDT will purchase all of the outstanding Class A Shares that they do not already own, for $8.05 per share of Class A common stock of Weber, which implies a total enterprise value of $3.7 billion for Weber. Cravath is representing BDT in connection with the transaction.

On October 20, 2022, BDT & Company Holdings, L.P. (“BDT”) and MSD Partners, L.P. (“MSD”) announced that they have entered into a definitive business combination agreement under which they will create an advisory and investment firm serving the distinct needs of family‑ and founder‑led business owners and strategic, long‑term investors. The combination will unite BDT, a merchant bank that provides advice and long‑term capital through its affiliated funds, and MSD, a long‑term oriented investment firm. Cravath is representing BDT in connection with the transaction.

Cravath partners Matthew M. Kelly and Douglas Dolan authored the United States chapter for Thomson Reuters Practical Law’s Acquisition Finance Global Guide, which was published in February 2023. The chapter provides a market overview and examines methods of acquisition, finance structure and procedures and other key issues relating to acquisition financing.

On December 16, 2021, The Legal Aid Society honored Cravath as one of its 2021 Pro Bono Publico Award recipients for outstanding service to the organization and its clients. Each year, Legal Aid recognizes the work of volunteer lawyers, law firms, corporations and other professionals who support or participate in its Pro Bono Program by providing exceptional legal services to vulnerable New Yorkers. Cravath received the 2021 award in recognition of our work for immigrant rights, incarcerated women who have survived domestic and/or sexual violence and low-income New Yorkers in need of transactional legal assistance. A number of attorneys were nominated for individual recognition, including partners Rachel G. Skaistis, David M. Stuart, Omid H. Nasab and Matthew M. Kelly and 12 associates.