Bär & Karrer advises CD&R on USD 7billion acquisition of Focus

Clayton, Dubilier & Rice, Stone Point Capital and Focus Financial Partners, a leading partnership of independent, fiduciary wealth management firms, announced that they have entered into a definitive agreement for Focus to be acquired by affiliates of CD&R in an all-cash transaction valued at an enterprise value of over USD 7 billion. Focus will cease to be a publicly traded company upon consummation of the transaction. The deal is expected to close in the third quarter, and CD&R and Stone Point will fund it with fully committed equity financing.

The buyout firm’s offer highlights how private equity firms are pouncing on the plunge in valuations to snap up companies. Focus’s shares tumbled nearly 38% in 2022. Stone Point and fellow private equity firm KKR & Co owned the New York-based company Focus prior to its listing in 2018.

Bär & Karrer acted as Swiss legal advisor to CD&R in this transaction. The team is being co-led by partners Christoph Neeracher (pictured left), Raphael Annasohn (pictured centre) and Thomas Rohde (pictured right; all m&a) and includes Romina Lauper, Luzius Bill, František Draslar, Djawad Kleist and Nick Aschwanden (all m&a), Mani Reinert (competition), Jonas Bornhauser (data protection, IP/IT), Laura Widmer and Luljeta Morina (both employment) as well as Daniel Flühmann (regulatory).

Kirkland & Ellis and Debevoise & Plimpton are acting as international lead counsels to CD&R in this transaction.