Sidley is representing Clearlake Capital Group L.P. in its US$3 billion acquisition of Endurance International Group Holdings, Inc. (Nasdaq: EIGI), a provider of cloud-based platform solutions designed to help small- and medium-sized businesses succeed online. Under the terms of the definitive agreement, affiliates of Clearlake will acquire all of the outstanding common shares of Endurance for US$9.50 per share in cash. The Endurance transaction ranks as the second-largest announced take-private transaction in the tech sector so far in 2020.
The transaction is expected to close in the first quarter of 2021 and is subject to approval by Endurance stockholders, along with the satisfaction of customary closing conditions (including antitrust regulatory clearance). Upon completion of the acquisition, Endurance will become a wholly owned affiliate of Clearlake.
The Sidley team is led by Mehdi Khodadad, Matthew Stoker, and Mark Castiglia (M&A and Private Equity) and includes Andrew Dwyer, Jamil Bata, and Jon Litsey (M&A and Private Equity); Eric Kauffman and Teresa Reuter (Employment); Stacy Crosnicker and Sarah Recktenwald (Employee Benefits); Rachel Kleinberg and Jonathan Westreich (Tax); Karen Kazmerzak, Ken Daly, Elizabeth Chen, and Jakob Dewispelaere (Antitrust/Competition); Kyle Barnett (Technology and IP Transactions); and Ash Nagdev and Mark Prior (Privacy and Cybersecurity).