Sidley is representing Clearlake Capital Group, L.P. and Motive Partners in their acquisition of BETA+ assets from the London Stock Exchange Group (LSEG). BETA+ encompasses the assets of BETA (a securities processing, custody, clearing, and asset servicing technology), Maxit (cost and tax basis reporting software), and Digital Investor (front-end client solutions). Additionally, Clearlake and Motive have simultaneously formed a long-term strategic partnership with LSEG, in which LSEG will provide content, data, and tools to BETA+ and Clearlake and Motive’s other portfolio companies. By acquiring the BETA+ assets from LSEG and creating a standalone platform, Clearlake and Motive intend to execute on a buy and build strategy, supported by Clearlake's proprietary O.P.S.® framework, and Motive's value creation plan. The deal is expected to close in the second half of 2022, pending customary regulatory approvals and closing conditions.
The Sidley team is being led by Mehdi Khodadad and Matthew Stoker (M&A and Private Equity), and includes Scott Parel, Patrick Hogan, David Meehan, Diana DuBois, Helen Jazzar, Lauren Taylor, and Marina R. Mehrtens (M&A and Private Equity); Nicholas Schwartz, Mark Adler, Marc Weinstein, and Nicholas Prey (Global Finance); Eric Kauffman, Cathryn Le Regulski, and Emily Wajert (Employment); Rachel Kleinberg, Katharine Funkhouser, and Jonathan Westreich (Tax); Stacy Crosnicker and Gregory Matisoff (Employee Benefits and Executive Compensation); Kyle Barnett, Dina Kang and Collin Marshall (Technology and Life Sciences Transactions); Karen Kazmerzak, Ken Daly, Jamie Sadler, and Jakob Dewispelaere (Antitrust/Competition); Sven De Knop, Alessandra Moroni, and Carys Golesworthy (International Trade); Sujit Raman, Sheri Porath Rockwell, and Denise Kara (Privacy and Cybersecurity); Dennis Coghlan, Joy Kerr, and S. Joey Lam (Real Estate); Scott Goldstein (Insurance); and Craig Dukin, Heather Hedges, and Lauri Bonacorsi (Regulatory).