HGGC, one of the most prosperous middle market private equity firms globally just announced that it had finalized its RPX acquisition. This $555 million deal has been in the works for quite a while now and has ended well for both parties. The only major hurdle for this deal was waiting for its approval by the German and U.S. Antitrust Agencies. The U.S. and German are the main markets for the two firms, so they had to9 get approval from both sides. RPX is one of the leading providers of patent management services globally. The firm has in its time of operation since its founding in 2008 acquired more than 23,000 patents amounting to $2.5 billion.
Teamwork made it possible
With the announcement of this looming acquisition first made in May by the RPX management, HGGC has put in extra effort to see it completed in time. The Co-Founder and Chief Executive Officer of the middle market private equity firm, Richard Lawson stated that the success of this deal was all achieved through teamwork. He passed along his gratitude to his firm’s partners who played a role in one way or another to make this deal successful. These partners include Jefferies Finance who was the lender and Kirkland & Ellis who were legal partners together with Skadden, Arps, Slate, Meagher & Flom. The financial partners in this deal also included GCA Advisors and Houlihan Lokey.
A new era
The HGGC head said that the success of this deal signified a new era for business. This is where deals that used to take extended periods now take less time all thanks to corporation between those involved. Richard Lawson also applauded the government agencies involved in this deal for doing their work superbly.
This firm has its headquarters in Palo Alto, California and is a leader in the global middle market private equity sector. This firm has a proud transactional record of over $17 billion under its belt. HGGC has now become the role model for under firms within and beyond its business circle to look up to.