Private Equity and M&A
Built for the needs of middle market private equity funds and their portfolio companies.
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A focused practice with deep industry specialization.
Choate launched one of the first private equity funds in 1983, and today we represent many of the country’s best known and most active private equity sponsors and their portfolio companies. Decades of experience—paired with teams who focus on the middle market—allows us to understand our clients’ business objectives and provide the strategic advice they need to meet their goals. Today, our private equity and M&A team is the largest group in the Firm, with more than 40 lawyers focused on helping our clients execute their most important transactions.
While we have deep bench strength to support large, complex transactions, we staff matters efficiently and do not add unnecessary members to a deal team. The lead partners on our transactions pride themselves on being heavily involved in the important details and execution.
We work seamlessly with the other related areas in the firm, such as tax, finance, intellectual property, healthcare, employment, benefits, real estate, antitrust and litigation, to support our fund clients in all their investment activities. This integrated team has the experience needed to guide private equity funds and their companies through all stages of a transaction—and their efforts have earned us a reputation for being commercially-focused and working effectively with all parties to a transaction.
What We Do Best
Buyouts and Growth Equity
The largest part of our practice involves handling important transactions for our fund clients and their portfolio companies. We regularly lead buyouts, growth equity investments, “add-on” acquisitions, and exit transactions on behalf of private equity sponsors and their portfolio companies. For portfolio company transactions, Choate ranks as one of the most active law firms in the country.
Healthcare Transactions
Since 2018, we have served as deal counsel in healthcare private equity related transactions with an aggregate value of more than $9 billion. In particular, private equity firms and their healthcare portfolio companies rely on our experience in structuring, negotiating and executing acquisitions and financings, and in dispositions of healthcare investments. By seamlessly integrating our transactional and healthcare regulatory teams, we are able to identify key due diligence issues and assess potential regulatory and compliance risks associated with an investment, as well as potential regulatory consent or notification requirements. We maintain significant expertise in the areas of healthcare practice management models (e.g., DSOs/MSOs in dental, ophthalmology, dermatology, general internal medicine); representation of fertility providers, women’s health, telemedicine, revenue cycle management and health IT providers; and in negotiating credit facilities on behalf of sponsors.
Fund Formation
For fund clients, our work often begins at the fund formation stage. We advise buy-out, growth equity, venture capital, and other private equity funds of all sizes as they raise capital to invest. Knowing what terms investors will accept is critical to a fund's success. Our team’s experience representing sophisticated funds as they go to market gives our clients an edge.
Real Estate
We serve as real estate counsel to public and private corporations and funds by advising on real estate purchases and sales, investigating real property assets involving mergers, acquisitions and divestitures and advising on leases.
Key Support Areas
- Finance – We help private equity clients and their portfolio companies structure and negotiate acquisition loans, leveraged and mezzanine financings, term and revolving credit facilities, working capital loans, and senior and subordinated debt instruments.
- Tax – Our tax attorneys specialize in the complexity of middle-market transactions and provide practical tax advice to support our clients’ deals.
- Antitrust – We advise our clients regarding their antitrust needs, including in connection with M&A deals, joint ventures, and IP licensing.
- Benefits, Labor & Executive Compensation – We help clients address the particulars of compensation agreements, employment and consulting agreements, executive employment packages, officer and director responsibilities and termination agreements.
- Cybersecurity & Data Privacy - With decades of government and private practice experience dealing with increasingly complex cybersecurity incidents and data privacy laws, Choate’s cybersecurity and data privacy practice counsels a wide range of businesses and organizations on compliance with U.S. data privacy laws, responding to cybersecurity incidents, conducting and evaluating risk assessments, and handling cybersecurity and privacy litigation.
Recent Accolades
Meet the Team
Brian P. Lenihan
Department Co-Chair - Business
Sarah N. A. Camougis
Co-Chair - Private Equity
Lee S. Feldman
Co-Chair - Private Equity
Michael T. Gass
Chair - Complex Trial & Appellate Litigation
Brian D. Goldstein
Co-Chair - Business & Technology
Julia R. Hesse
Co-Chair - Healthcare
J.P. Jaillet
Chair - Insurance & Reinsurance
Kimberley J. Kaplan-Gross
Partner
Paul C. Laudano
Chair - Real Estate
Eric J. Marandett
Co-Chair - IP Litigation
Sean M. Monahan
Co-Chair - Finance & Restructuring
T.J. Murphy
Co-Chair - Private Equity
John R. Pitfield
Co-Chair - Business & Technology
Alison F. Reif
Chair - Labor & Employment
John F. Ventola
Co-Chair - Finance & Restructuring
William P. Gelnaw, Jr.
Co-Managing Partner
Shaun Barnes
Partner
Sarah Hunt Broughel
Partner
Robert M. Buchanan, Jr.
Partner
John Marshall Chambers
Partner
Gregg B. Cosimi
Partner
Dallas Cruz
Partner
Sabrina Cua
Partner
Mark A. DeFeo
Partner
Andrew P. Erdmann
Partner
Rees M. Hawkins
Partner
Chris Henry
Partner
Andrew J. Hickey
Partner
Kevin T. Jarboe
Partner
Lyndsey M. Kruzer
Partner
Olivier Léger
Partner
Shaina Wamsley London
Partner
Charles E. Lyon, DPhil
Partner
Louis J. Marett
Senior Counsel
John A. Meltaus
Partner
Steve Meredith
Senior Counsel
David Mollo-Christensen
Partner
Peter M. Palladino
Partner
Daniel P. Riley
Partner
Howard S. Rosenblum
Retired Partner
Ed Saad
Partner
Alyson Bagley Stewart
Partner
Michael J. Stick
Partner
Tobin P. Sullivan
Partner
Stephen J. Tonkovich
Partner
Kevin M. Tormey
Partner
Cecilia O. Vega
Partner
Adam M. Zaiger
Partner
Robert V. Jahrling III
Senior Counsel
Brian J. King
Of Counsel
James A. McDaniel
Senior Counsel
Elizabeth Powers
Of Counsel
Thomas E. Shirley
Senior Counsel
Melissa W. Gaied
Principal
Zachary Rosen
Principal
Kevin M. Sarro
Principal
Sean M. Small
Principal
Daniela Badiola Spanos
Principal
Stefano A. Sharma
Counsel
Kevin Milton
Senior Associate
Matt Mortensen
Senior Associate
Benjamin Owens
Senior Associate
Andrew K. Norkiewicz
Senior Associate
Elizabeth Pion
Senior Associate
Frank Pustorino
Senior Associate
Dylan Rogalin
Senior Associate
Dana W. Spigelman
Senior Associate
Ellen Baker
Associate
Orion Berwanger
Associate
Kevin J. Connolly
Senior Associate
Serge C. Doucet III
Associate
Peter Ernst
Associate
Silvia Faria
Associate
Stephen Fleury
Associate
A. Richard J. Harris
Associate
Scott Hefferman
Associate
Tanner Jeffrey Kramp
Associate
Marianna Marques
Associate
Kiera McManus
Associate
Johanna B. Moody
Associate
Sydney Sullivan Nicklas
Associate
David M. Olio
Associate
Jeff Sarasohn
Senior Corporate Counsel
Aspen Schneider
Associate
Cassidy Seamon
Associate
Nicholas Venora
Associate
Julia Zabriskie
Associate
Recent Insights
Announcements 04.10.2024
BV Investment Partners Announces Investment in Balance Partners
Choate represented BV Investment Partners in its investment in Balance Partners, a specialty insurance managing general agency.
Announcements 03.13.2024
Choate Welcomes Three Private Equity Partners
Choate Hall & Stewart announced today that Chris Henry, Andy Erdmann, and Sabrina Cua joined the Firm as partners in its Private Equity Group.