Private Equity

On May 9, 2025, TaskUs, Inc. (“TaskUs”), a leading provider of outsourced digital services and next‑generation customer experience to companies, announced it has entered into a definitive agreement to become a privately held company. Under the terms of the agreement, an affiliate of Blackstone, TaskUs Co‑Founder and Chief Executive Officer Bryce Maddock and TaskUs Co‑Founder and President Jaspar Weir (collectively the “Buyer Group”) will acquire 100% of the outstanding shares of Class A common stock they do not already own for $16.50 per share in an all-cash transaction. Upon completion of the transaction, the Company’s Class A common stock will no longer be listed on any public market. The TaskUs Board of Directors has approved the transaction upon the unanimous recommendation of a special committee of independent directors (the “Special Committee”), which was formed on March 20, 2025, in response to interest expressed by the Buyer Group in exploring a possible transaction. Cravath is representing the Special Committee in connection with the transaction.

On April 10, 2025, an investor group led by White Mountains Insurance Group, Ltd. (“White Mountains”), Ethos Capital and British Columbia Investment Management Corporation announced it will acquire an ownership position in BroadStreet Partners, Inc. (“BroadStreet”), a leading North American insurance brokerage company. Under the terms of the agreement, Ontario Teachers’ Pension Plan will maintain a significant co‑control stake in BroadStreet and operate in partnership with the investment group. Cravath is representing White Mountains in connection with the transaction.

On April 4, 2025, Rogers Communications Inc. (“Rogers”) announced it has entered into a definitive agreement with funds managed by Blackstone, backed by leading Canadian institutional investors, for a CDN$7 billion equity investment. Under the terms of the transaction, Blackstone will acquire a non-controlling interest in a new Canadian subsidiary of Rogers that will own a minor part of the Rogers wireless network. Following the transaction, Blackstone will hold a 49.9% equity interest (with a 20% voting interest) in the new subsidiary. Rogers will maintain full operational control of its network and will include the financial results of the new subsidiary in its consolidated financial statements. At any time between the eighth and twelfth anniversaries of closing, Rogers will have the right to purchase Blackstone’s interest in the new subsidiary. Rogers intends to use the net proceeds from the transaction to repay debt. Cravath is representing Rogers as U.S. counsel in connection with the transaction.

On March 4, 2025, Pacific General, a New York‑based private investment firm, announced that it has acquired a majority stake in Lenwich, a premium sandwich brand that has been a staple in New York City since 1989. Lenwich’s founder will retain a significant equity interest in the company and continue to lead Lenwich as CEO. The partnership between Pacific General and Lenwich aims to accelerate Lenwich’s expansion beyond its home market in New York City, extending across the East Coast and the broader United States. Cravath is representing Pacific General in connection with the transaction.

On February 24, 2025, Bridge Investment Group Holdings Inc. (“Bridge”), a leading alternative investment manager diversified across specialized asset classes, and Apollo Global Management, Inc. (“Apollo”) announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all‑stock transaction with an equity value of approximately $1.5 billion. Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively. Cravath is representing the special committee of the Bridge Board of Directors in connection with the transaction.

On May 12, 2025, Cravath published the latest edition of its Quarterly Review, which has been redesigned for the Q1 2025 edition to provide greater insight into practical points, key takeaways and relevant developments across the M&A, activism, tax, regulatory and corporate governance landscape. This edition covers:

Cravath partner Faiza J. Saeed was named to The Hollywood Reporter’s annual “Power Lawyers” list, which recognizes “the entertainment industry’s most powerful legal advocates” and was published in the April 2, 2025 issue of The Hollywood Reporter Magazine. The feature highlighted Faiza’s representation of the Paramount Special Committee of independent directors in connection with Paramount’s $28 billion merger agreement with Skydance, as well as her representation of the independent Special Committee of Endeavor’s board of directors in connection with Endeavor’s $25 billion take private acquisition by Silver Lake. This is Faiza’s eighth year being recognized as a “Power Lawyer.”

On April 3, 2025, IFLR honored Cravath as an advisor of the “Loan Deal of the Year” at the publication’s 2025 Europe Awards, in connection with the Firm’s representation of the lead arrangers and initial purchasers in the financing for TDR Capital and I Squared Capital’s €1.9 billion acquisition of Applus. In announcing the award, IFLR highlighted the “bespoke innovative English law financing arrangements” involved in the deal as well as the nine global jurisdictions it spanned. The publication also noted how “the deal teams navigated untested regulatory and other deal‑specific requirements that contained a number of firsts in the Spanish market.”

Seven Cravath partners were selected to serve on Law360’s 2025 Editorial Advisory Boards: Wes Earnhardt (Media & Entertainment), Brittany L. Sukiennik (Trials), Douglas Dolan (Capital Markets), Arvind Ravichandran (Tax Authority International), Jeffrey T. Dinwoodie (Banking), Adam M. Sanchez (Private Equity) and Benjamin G. Joseloff (International Trade). As Editorial Advisory Board members, they will provide feedback on Law360’s coverage and expert insight on how best to shape future coverage.

On February 21, 2025, Cravath partners Kevin J. Orsini and Andrew C. Compton were named to Lawdragon’s 2025 list of “500 Leading Energy Lawyers,” which recognizes the leading “infrastructure & project development experts, energy litigators and dealmakers,” for their work advising clients in the energy sector.