KELLY DYBALA focuses her practice on private equity, financing transactions and debt restructurings. She represents borrowers, private equity funds and direct lenders concentrating on acquisition financing, asset-based financing, mezzanine financing, subscription financing, and subordinated debt financing. In addition, Kelly is experienced in workouts, restructurings, and debtor-in-possession financing on behalf of both borrowers and financial institutions.
Kelly has represented a number of leading private equity firms, including Advent International, Avista Capital, BDT Partners, Berkshire Partners, Highview Capital, Great Hill Partners, Lindsay Goldberg, Lovell Minnick Partners, OMERS Private Equity, One Equity Partners, Providence Equity Partners, Siris Capital, Summit Partners, THL Partners, TowerBrook, TSG Consumers Partners and Z Capital Partners including many of their portfolio companies. Kelly also regularly represents corporate clients on both investment-grade and leveraged finance matters, including AFLAC, Bodega Latina Corporation, IDEX Corporation, Fortegra Financial, Pier 1, Mattress Firm, Raising Cane’s, Tuesday Morning, United Pacific, Univision Communications and Worldpay.
Since joining Sidley, Kelly’s work has included advising:
- Walgreens Boots Alliance, Inc. in its agreement to invest US$1 billion in equity and convertible debt in VillageMD, which will primarily be used to fund the opening of full-service doctor offices co-located at Walgreens stores on a large scale
- Siris Capital in a number of “take private” acquisitions, including their acquisitions of Polycom Inc., Premier Global Services and Mavenir Inc.
- Z Capital in a number of acquisition financings, including their acquisitions of Twin Star, Premier Thermal Solutions, Daily Racing and Affinity Gaming
- OMERS in connection with their acquisition of Forefront Dermatology
- One Equity Partners in connection with their acquisition of Resolute (and Resolute’s acquisition of Tioga)
- BDT Capital Partners in connection with their acquisition of Athletico
- TSG Consumer Partners in connection with financing matters (and sale) of IT Cosmetics, as well as the sale of e.l.f. Cosmetics
- Several portfolio companies of Summit Partners in connection with financing transactions, including Aurora Diagnostics and Clarabridge
- A number of public companies in connection with their financing matters, including Casa Systems, Pier 1 Imports, Tuesday Morning, Darling International, HMS and Vantiv (now known as WorldPay) (including with respect to Vantiv’s recent acquisition of WorldPay)
- Raising Cane’s in connection with its financing matters
- Apro, a portfolio company of Fortress, in connection with its financing matters
- Univision Communications with respect to various financing matters, including the repricing of its term loans
- Bodega Latina Corporation, as a subsidiary of Mexican public company Grupo Chedrani, in the financing of it’s acquisition of the Fiesta grocery store chain
- Morrison Supply Company, an Advent International portfolio company, in connection with various financing matters, including an amendment to its ABL revolving facility
- Aurora Diagnostics, a Summit Partners portfolio company, in connection with its senior secured credit facility
- Clarabridge Inc., a Summit Partners portfolio company, in connection with its senior secured credit facility
- Fortegra Financial with respect to various financing matters, including its offering of subordinated bond and working capital facility amendment and extension of its senior secured credit facility
- EPL Oil & Gas with respect to financing matters in connection with its acquisition by Energy XXI
- International Game Technology with respect to financing matters in connection with its acquisition by GTECH
- General Electric Capital Corporation in the sale of its sponsor lending business to CPPIB
- My Alarm Center, a portfolio company of Norwest Venture Partners, in connection with its senior secured credit facility and mezzanine facility in connection with an acquisition
- SMS Systems Maintenance Services with respect to its first and second lien credit facilities in connection with a dividend payment to its shareholders
- Antares Capital in connection with several billion dollars of acquisition financing transactions and refinancing transactions for multiple private equity sponsors, including Aurora, Brentwood, Genstar, Gryphon, Odyssey and Kohlberg
- AB Private Credit in connection with senior secured acquisition financing to Comvest in its acquisition of Engage 2 Excel
Prior to joining Sidley, her work included:
- Advent International’s investments in Serta/Simmons, Morrison Supply, Connolly Consulting, NCS Energy Services, Charlotte Russe, Bradco Supply, BOS Solutions and Aerodom
- Berkshire Partners’ investments in AmSafe, Citizens of Humanity, Grocery Outlet, HMT, National Vision and Waterworks
- Brazos Partners’ investments in Cheddar’s Restaurants, Comark Building Systems, Rennhack Marketing Services, Lone Star Overnight
- Genstar Capital Partners’ various fund-level credit facilities
- Hercules Offshore’s amendment to its senior credit facilities
- Lindsay Goldberg’s investments in Brock Holdings, PSC, Alliant Insurance, Brightstar and Maine Beverage
- Norwest Venture Partners’ investment in My Alarm LLC
- Providence Equity Partners’ investments in Learfield Communications, Medical Media and Newport Television
- Rehabcare Group’s financing for its acquisition of Triumph Healthcare
- Summit Partners’ investments in the Lawson/InforGlobal combination, Aramsco, Central Security Group, Associations, Inc., People Admin, Eyeglass World, Sparta Systems, Focus Financial and Champion Windows
- THL Partners’ investments in Party City, Fogo de Chão, Intermedix, SMS Holdings, Acosta, Progressive Moulded Products and Simmons Bedding
- Kinder Morgan as to El Paso’s sale of certain of its assets to affiliates of Apollo
Kelly has been recognized in numerous prestigious publications, including the below accolades:
- “Highly Regarded” for Banking and Finance in the United States, IFLR1000
- “Best Lawyer” in Banking and Finance Law and Corporate Law, The Best Lawyers in America (2016-2022)
- “Top 100 Power Lawyer,” The Hollywood Reporter (2020)
- Leading lawyer for Banking and Finance in Texas, Chambers USA (2010–2022)
- Best Lawyers in Dallas, D Magazine (2013 and 2017)
- Texas “Super Lawyer,” Super Lawyers (2014–2018)
- “Rising Star” in Texas, Super Lawyers (2004–2013)
- “Recommended” Lawyer for Private Equity Buyouts, The Legal 500 US (2014–2016)
- “40 Under 40” honorees, M&A Advisor (2012)
- Named as one of the 45 best women lawyers under the age of 45 in the United States, The American Lawyer (2011)
- “40 Under 40,” Dallas Business Journal (2012)