Gregory A. Schernecke
Partner Philadelphia Private Equity
Mergers & Acquisitions
- The Certares-formed investor group in connection with its joint venture agreement with American Express Company for its Global Business Travel division and related US$900 million investment and in connection with the US$5.3 billion business combination with special purpose acquisition company Apollo Strategic Growth Capital (APSG) and listing on the New York Stock Exchange under the new ticker symbol “GBTG”.
- Certares in its investment in Marietton group, a leading tour operator and travel agent in France.
- Ridgemont Equity Partners in its acquisitions of Anne Arundel Dermatology Management, a leading provider of medical, surgical and cosmetic dermatological services in the Mid-Atlantic and Southeastern States and Agape Care Group, a leading provider of hospice and palliative care in the Southeast US.
- Anne Arundel Dermatology Management, a portfolio company of Ridgemont Equity Partners, on its partnerships with Academic Alliance in Dermatology, Atlantic Dermatology, Ball Dermpath, Dermatology Specialists of Augusta, North Atlanta Dermatology, Dermatology Institute for Skin Cancer & Cosmetic Surgery and Skin Path Solutions.
- Agape Care Group,a portfolio company of Ridgemont Equity Partners and a leading hospice and palliative care provider in the Southeast US, on its acquisition of GHC Hospice, a leading hospice care provider serving 25 counties in Georgia and South Carolina.
- Court Square Capital Partners in its majority investment in Getaroom, a business-to-business hotel and vacation rental provider and subsequent US$1.2 billion sale of Getaroom to Booking Holdings Inc and in its investment in Infinite Choice, an SEM-driven lead generation platform focused on hotel rooms and event tickets.
- Court Square Capital Partners in connection with its investment in InfiniteChoice, an SEM-driven lead generation platform focused on hotel rooms and event tickets.
- Court Square Capital Partners and MacDermid Incorporated, a specialty chemical company, in the US$1.8 billion sale of MacDermid Incorporated to Platform Acquisition Holdings Limited (LSE: PAH).
- Morgan Stanley Capital Partners, the Private Equity team within Morgan Stanley Investment Management, in connection with its investment in Clarity Software Solutions, a leading provider of on-demand document management and communications delivery solutions for the health insurance industry.
- J.H. Whitney and its portfolio company PSA Healthcare in connection with its merger with a Bain Capital Private Equity affiliate that had previously agreed to acquire Epic Health Services, resulting in the formation of Aveanna Healthcare, the largest pediatric home health care company in the U.S, and Aveanna’s subsequent add-on acquisitions of Premier Healthcare Services, LLC and Maxim Healthcare Services.
- J.H. Whitney and Aveanna Healthcare (Nasdaq: AVAH) on Aveanna’s US$450 million initial public offering on Nasdaq.
- One Equity Partners in its US$470 million take private of APAC Customer Services, Inc., a Nasdaq-listed business process outsourcing (BPO) company, and the subsequent merger of NCO Group, Inc., another BPO and portfolio company of One Equity Partners, with APAC, and related US$1 billion refinancing.
- One Equity Partners in its US$1.1 billion take private of MModal, Inc., a Nasdaq-listed provider of clinical documentation services and Speech Understanding™ solutions, and related tender offer and financing.
- The Stripes Group in connection with numerous investments and dispositions, including Califia Farms, one of the fastest growing natural beverage companies in the United States, Stella & Chewy’s, a provider of all-natural raw pet food and kibble, Sandata Technologies, a leading provider of healthcare-related information technology solutions and services, Kosas Cosmetics, a clean color cosmetics company, Dr. Barbara Sturm, a science-rooted skincare solutions company, Upwork, Inc. (NASDAQ: UPWK), a leading global freelance marketplace, Turtle Beach Corporation (NASDAQ: HEAR), an audio technology company for gaming, Ketra, a provider of digital lighting solutions, and Gimlet Media, an award winning media brand for narrative audio that was acquired by Spotify.
- Barings LLC, one of the world's leading asset management firms, in becoming the external investment adviser to Barings BDC, Inc. ((NYSE: BBDC); f/k/a Triangle Capital Corporation (NYSE: TCAP)), a business development company.
- Barings LLC in connection with its partnership with Rocade LLC in the launch of a specialty finance company focused on litigation finance with a long-term investment approach.
- Barings BDC, Inc. (NYSE: BBDC) in its merger with MVC Capital Corp.
- Alcentra Capital Corporation (NASDAQ:ABDC), a middle-market business development company managed by Alcentra NY, LLC, on its agreement to be acquired by Crescent Capital BDC, Inc., a business development company externally managed by Crescent Cap Advisors, a subsidiary of Crescent Capital.
- American Express Global Business Travel (GBT) in connection with its acquisition of Klee Data System (KDS), a global provider of integrated travel technology and in connection with shareholder arrangements and the long term strategic commercial agreement between GBT and Expedia in relation to GBT’s acquisition of Egencia, the business travel division of Expedia.
- Internova Travel Group, a travel management company managing leisure, business and franchise travel operations under a variety of diversified divisions and brands, in several acquisition transactions and related financing activities, including its acquisition of ALTOUR, a travel management company based in the United States, serving the luxury and mid-market travel industry globally, The Andrew Harper Travel Office and The Andrew Harper Alliance, a full service luxury travel agency and amenity-driven hotel program and CruCon Cruise Outlet, one of the largest sellers of cruises.
- Vestiaire Collective S.A., the leading global online marketplace for desirable pre-loved fashion, in its acquisition of Tradesy, Inc., a leading peer-to peer resale platform for luxury fashion in the United States.
- Eurovia SAS, a VINCI Group subsidiary and global leader in transport infrastructure and urban development, in its US$555 million acquisition of the Lane Asphalt Plants & Paving division of Lane Construction from Salini Impregilo Group.
- Integrated Oncology Network, LLC (“ION”) in connection with its agreement to partner with private equity investment firm Silver Oak Services Partners, LLC to recapitalize ION.
- MWI Veterinary Supply, Inc. (NASDAQ: MWIV), the leading animal health distribution company in the United States, in its US$2.5 billion sale to AmerisourceBergen Corporation.
- Novadaq Technologies, Inc. (NASDAQ: NVDQ), a leading provider of proven comprehensive fluorescence imaging solutions for medical procedures, in its US$701 million sale to Stryker Corporation.
- Kofax Limited (NASDAQ: KFX), a leading provider of smart process applications, in its US$1 billion sale to Lexmark International, Inc.
- Lexmark International, Inc., a global imaging leader, in the sale of its Enterprise Software business to Thoma Bravo.
- Bravo Brio Restaurant Group, Inc. (NASDAQ: BBRG), owner and operator of the BRAVO! Cucina Italiana and BRIO Tuscan Grille restaurant concepts, in its approximately US$100 million sale to Spice Private Equity Ltd. an affiliate of GP Investments, Ltd.
- Evercore Partners as financial advisor to Clearwire in connection with Sprint Nextel Corporation’s proposed US$3.8 billion acquisition of all of the Class A Common Stock of Clearwire.
Domestic Capital Markets & Corporate Finance
- Piper Jaffray & Co. as sole placement agent in the US$45.8 million equity financing by aTyr Pharma, Inc. (NASDAQ: LIFE), a biotherapeutics company engaged in the discovery and development of Physiocrine-based therapeutics.
- Underwriters led by Piper Jaffray & Co. in the US$26 million CMPO by Sophiris Bio Inc. (NASDAQ: SPHS), a biopharmaceutical company developing PRX302 (topsalysin) for the treatment of urological diseases.
- Underwriters led by Piper Jaffray & Co. in the US$40 million follow-on offering by Recro Pharma, Inc. (NASDAQ: REPH), a revenue-generating, specialty pharmaceutical company primarily focused on developing innovative products for hospitals and ambulatory care settings.
- Underwriters led by Stifel Nicolaus Weisel, Leerink Swann and Cowen & Company in the initial public offering of Cempra, Inc. (NASDAQ: CEMP) a clinical-stage pharmaceutical company. Subsequently advised the underwriters led by Barclays Capital, Stifel Nicolaus and Cowen & Company in a US$54.2 million follow-on public offering by Cempra, Inc.
- Underwriters, led by Stifel and Lazard Capital Markets, in connection with the initial public offering of common stock by Aratana Therapeutics, Inc. (NASDAQ: PETX), a biopharmaceutical company focused on animal health.
- Bravo Brio Restaurant Group, Inc. (NASDAQ: BBRG) in its US$161 million initial public offering and US$74 million follow-on offering of common shares.
- The underwriters in three follow-on public offerings by Idera Pharmaceuticals, Inc. (NASDAQ: IDRA), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for oncology and rare diseases.
- The underwriters in multiple CMPO and At-The-Market offerings by Inovio Pharmaceuticals, Inc., a clinical stage company developing active DNA immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases.
- Underwriters led by Piper Jaffray & Co. in the US$24 million and US$37 million CMPOs by Medgenics, Inc. (NYSE MKT: MDGN), a clinical stage rare and orphan disease company developing an innovative and proprietary ex vivo gene therapy platform.
- Barclays Capital as sole book-running manager and Wedbush Securities Inc. and Griffin Securities as co-managers in the US$45.1 million public offering by Fibrocell Science, Inc., an autologous cell therapy company focused on the development of innovative products for aesthetic, medical and scientific applications.
- Underwriters led by Leerink Swann and Cowen & Company in the US$54 million primary offering of Amicus Therapeutics, Inc. (NASDAQ: FOLD)
- Underwriters, led by JP Morgan and Goldman Sachs, in connection with numerous public offerings of common stock by Amicus Therapeutics, Inc. (NASDAQ: FOLD), a biopharmaceutical company focused on rare genetic diseases.
- OraSure Technologies, Inc. (NASDAQ: OSUR) in its US$75 million primary offering of common stock and subsequent shelf registration.
Cross-Border Capital Markets & Corporate Finance
- VIA optronics AG, a leading supplier of enhanced display solutions, in its US$93.75 million cross-border initial public offering and listing on the NYSE.
- Underwriters led by JMP Securities in the US$28.75 million CMPO by BioLineRX Ltd (NASDAQ/TASE: BLRX), a clinical stage biopharmaceutical development company focused on oncology and immunology.
- Underwriters led by Citigroup Global Markets Inc. and Jefferies LLC in the US$75 million initial public offering in the U.S. of Advanced Accelerator Applications S.A. (NASDAQ: AAAP)
- Kofax® Limited, a leading provider of smart process applications, on its migration by way of scheme of arrangement to Bermuda, initial public offering in the U.S. and dual NASDAQ and LSE listing.
- Novadaq Technologies, Inc. (NASDAQ: NVDQ) in its initial public offering in the United States pursuant to the Canadian/United States Multi-Jurisdictional System.
- Underwriters led by Piper Jaffray & Co. and Wedbush Securities, Inc. in the US$32 million primary offering of Oncolytics Biotech, Inc. (NASDAQ: ONCY)
- Placement agents led by Piper Jaffray & Co. in the private placement of common shares and warrants by Nanobiotix (EURONEXT: NANO), a clinical-stage French nanomedicine company working on the local treatment of cancer.
- Placement agents led by Piper Jaffray & Co. in the €30 million private placement of common shares by argenx (Euronext Brussels: ARGX), a clinical-stage biopharmaceutical company.
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PhiladelphiaCira Centre, 2929 Arch Street, Philadelphia, PA, United States of America 19104-2808
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- Davidson College, B.A., 2003
- Temple University Beasley School of Law, J.D., 2008, magna cum laude