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private equity

Practices

Private Equity

National private equity counsel with Midwest pragmatism. We help sponsors, independent sponsors, and portfolio companies buy, build, and exit businesses with lean, senior-led teams and a work style grounded in how your business actually runs.

You want a national team that moves at deal speed and understands operating reality. We advise funds and growing companies on buyouts, add-ons, carve-outs, minority and growth investments, and exits—from sub-$10 million transactions to deals exceeding $1 billion across the United States. We begin by learning the business, then organize the deal around day-one priorities: customers and channels, supply chains and key contracts, people, IP/data, approvals, and integration. Budgets and timelines are set up front and managed in the open—predictable, efficient, and transparent. Our approach reflects the firm’s Client Service Pledge: know your business, plan the engagement, and manage the work as if we were the client.

Where many firms lead with headcount, our advantage is judgment and fit. Small teams led by seasoned partners resolve issues in real time and keep the path to signing and closing clear. The platform is national; the style is practical and direct—built in the Midwest, delivered wherever you operate. Focus areas include Fund Formation, Private Equity Financing, and Portfolio Company Services, so sponsors get lifecycle support from vehicle to portfolio to exit.

Supporting our private equity and investment expertise, we also work extensively with registered funds, BDCs, ETFs, broker-dealersRIAs, and publicly traded companies. As a full-service law firm with more than 400 attorneys, we employ a team-oriented approach to ensure that our clients in such industries as business services, financial, construction, retail, chemicals, power, health care, manufacturing, technology, consumer products, and defense receive in-depth technical advice from experienced lawyers across all complementary practice areas (including regulatory antitrust, employee benefits, intellectual property, real estate, cybersecurity, and tax). And to ensure seamless service in cross-border transactions, we also collaborate with an established network of leading local and international firms.  

From formation through exit, through all aspects of the fundraising and investing cycle, and the full range of regulatory regimes, Thompson Hine designs strategies to mitigate risk, enhance and ensure governance, and drive both efficiencies and excellence for our private equity clients.

Representative Sponsor Matters

  • Centre Lane Partners — multiple acquisitions and divestitures; take-private of Synacor, Inc. (SYNC); sale of Capital Brands, Inc.; acquisition of Lenox
  • High Road Capital Partners — sales of Guidemark Health and BlueSpire, Inc.
  • ITE Rail Fund — take-private of American Railcar Industries, Inc. (ARII)

(For additional transactions, see our M&A experience list.)

How We Help Private Equity

We work directly with deal partners, deal sourcing teams, in-house counsel and portfolio leadership to plan and execute transactions at deal speed. You get senior attention, focused diligence, and documents tailored to how the company operates.

  • Buyouts & add-ons. We structure, diligence and negotiate asset, stock and merger deals (including tax-efficient structures) and keep the path from letter of intent to day one clear.
  • Carve-outs & separations. Transition-service planning, employee moves, third-party consents, vendor/lease assignments and supply-chain continuity—built into the calendar, not bolted on.
  • Minority & growth investments. Preferred and common equity terms, investor rights, board and protective provisions, and registration rights packages that match the exit plan.
  • Management incentives. Rollover equity, option/RSU plans, change-in-control and retention programs, and executive employment/consulting arrangements.
  • Acquisition financing. Commitment papers, credit agreements, security packages and intercreditor issues coordinated with the deal timeline.
  • Governance & shareholder arrangements. Voting agreements, drag-along/tag-along, transfer restrictions and other shareholder mechanics that prevent deadlock.
  • Commercial & IP/data. Software and data rights, license and transition agreements, key customer/vendor contracts, and brand/know-how protections that preserve value.
  • Regulatory approvals. Strategy and filings for Hart-Scott-Rodino and other required clearances to protect signing and closing certainty.
  • Restructuring & workouts. Reorganizations and balance-sheet solutions for portfolio companies under pressure.
  • Channels & growth arrangements. Distribution, franchise, agency, and licensing frameworks that support scale.