GARY GERSTMAN is a corporate partner in Sidley’s Chicago office. He has more than 25 years of experience representing clients in a wide variety of public and private merger and acquisition transactions, strategic alliances and joint ventures, capital markets transactions and corporate governance matters. He is a global co-leader of the Firm’s Technology Industry Group and many of his deals have been in the technology and healthcare industries. In IFLR1000 (2011, 2016) and The Legal 500 (US) (2009, 2014), Gary was commended for his work in mergers and acquisitions. Gary also regularly advises NYSE and NASDAQ issuers on a broad range of corporate governance and SEC compliance matters and shareholder engagement and activism matters. Gary also serves as one of the firm’s liaisons to the NACD Chicago Chapter.
Gary’s representative public company M&A transactions include the following:
- Sale of Innerworkings to HH Global for $300 million
- Sale of Diplomat Pharmacy to UnitedHealth for $900 million
- Sale of Multi-Color to Platinum Equity for $2.5 billion
- PayPal’s acquisition of Xoom for $890 million
- Sale of Catamaran to UnitedHealth for $12.8 billion
- Sale of IGT to GTECH for $4 billion
- SXC Health Solution’s acquisition of Catalyst Health for $4.4 billion and acquisition of National Medical Health Systems
- Aon’s acquisition of Hewitt for $4.9 billion
- Allscripts’ acquisition of Eclipsys for $1.3 billion
- Sale of a majority interest in Allscripts to Misys for $ $805 million
- Sale of Clear Channel (Special Advisory Committee) to TH Lee and Bain for $26.7 billion
- Sale of Equity Office Properties to Blackstone for $39 billion
- Sale of True North Communications to Interpublic for $2.1 billion
- Tellabs’ acquisition of Advanced Fibre Communications for $1.5 billion
Clients served in representative private M&A transactions include:
- Aon Corporation in the sale of Combined Insurance to ACE Limited, the sale of its Sterling Life Insurance unit to Munich Re, the sale of its warranty business to Onex Corporation, the sale of its U.S. premium finance business to BB&T Corporation, the sale of its wholesale brokerage business to Hicks Muse, the sale of its claims processing business to Scandent Group, the sale of certain property/casualty operations to Berkshire Hathaway, the sale of eSolutions to Symphony Technology Group and the sale of its fire protection engineering business to Jensen Hughes.
- Catamaran Corporation (formerly SXC Health Solution Corp.) in numerous acquisitions, including MedfusionRx, LLC, HeatlhTran, LLC, Restat, LLC, Salveo Specialty Pharmacy and Healthcare Solutions, Inc.
- PayPal, Inc. in its acquisitions of Braintree, Inc./Venmo and Paydiant, Inc.
- eBay Inc. in the sale of a controlling interest in Skype to an investment group led by Silver Lake and other acquisition transactions.
- Allscripts Healthcare Solutions, Inc. in its acquisition of the enterprise information solutions business from McKesson Corporation, its co-investment with GI Partners and acquisition of Netsmart (2016 M&A Atlas Deal of the Year award) and subsequent sale of that investment to TA Associates and GI Partners, several transactions with Misys plc, the acquisition of A4 Health Systems, Inc., the acquisition of Extended Care Information Network, Inc. and the acquisition of Advanced Imaging Concepts.
- First Data Corporation in its acquisition of an interest in Paymentech Inc. and its joint venture alliance with Bank One and J.P. Morgan Chase (including the break-up of Chase Paymentech) and in its joint venture alliances with each of Wells Fargo, SunTrust and Huntington Bank.
- AptarGroup, Inc. in its acquisitions of CSP, FusionPKG, Noble International, the Emson Group and other various acquisitions and investments.
- Medline Industries, Inc. in its acquisitions of the fluid management business of AngioDynamics, Inc., Centurion Corporation, Professional Hospital Supply, Inc.. the international surgical products business of CareFusion Corporation and other various acquisitions and investments.
- CDW Corporation in its acquisitions of Amplified IT, IGNW and Aptris.
- Ryan Specialty Group, LLC in numerous acquisitions, including its acquisition of All Risks, Ltd.
- IGT in its acquisition of Double Down Interactive.
- Saks Incorporated in the sale of its Northern Department Store Group to The Bon-Ton Stores, Inc. and the sale of each of its Profitt’s/McRae’s business and its Parisian business to Belk, Inc.
- GHX in its sale to Thoma Bravo.
- Tootsie Roll Industries in its acquisition of Andes Candies from Brach’s Confections.
- GE Capital in numerous private investments.
In addition, Gary has been involved with a number of public and private securities offerings for Allscripts, AptarGroup, Catamaran, eBay and United Airlines.