Ropes & Gray advises Berkshire Partners in acquisition of majority stake in AHEAD

Sep 27, 2022 | News

AHEAD announced a definitive agreement for funds advised by Berkshire Partners to acquire a majority stake in the company from Centerbridge Partners

In October 2020, Centerbridge and Berkshire Partners made a joint investment to support the growth of AHEAD, a leading provider of enterprise cloud services, with Centerbridge acquiring a majority stake.

Since their investment, both firms partnered with the company’s leadership team to create significant equity value, driving AHEAD’s highly relevant and differentiated digital solutions portfolio of cloud, data, and application-related services into a more focused enterprise account base, and completing multiple strategic and highly complementary acquisitions.

Berkshire Partners is making an additional investment to become majority shareholder and leverage its specialist sector expertise in technology, business services, and digital infrastructure to help fuel AHEAD’s further expansion.

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The AHEAD management team and its employees, led by founder and CEO Daniel Adamany, will continue to own a significant portion of the business, and Centerbridge will retain a minority stake.

“We’re grateful for the support of both firms over the last two years, as we made material improvements to the business to not just deliver exceptional near-term results but set the stage for future scale and growth. The expanded investment by our colleagues at Berkshire, along with the continued support of Centerbridge, will help us further innovate and mature a services portfolio that helps our clients fundamentally transform how they run their businesses and serve their own customers,” said CEO Adamany.

Barclays and SVB Securities served as joint lead financial advisors to AHEAD and Centerbridge on the transaction. Kirkland & Ellis LLP served as legal counsel to AHEAD and Centerbridge. Guggenheim Securities served as financial advisor to Berkshire Partners. Ropes & Gray LLP served as legal counsel to Berkshire Partners.

Source: BusinessWire

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