Raymond F. Bogenrief
Ray is a partner in White & Case's global M&A practice, based in Chicago. Ray focuses his practice on complex business transactions, particularly leveraged buyouts for private equity funds and domestic and cross-border mergers and acquisitions. He has represented some of the largest names in private equity in transactions ranging in size from several million dollars to more than US$5 billion.
Ray also represents public companies, private companies and venture capital firms in negotiating and structuring acquisitions and divestitures, mergers and acquisitions, venture capital investments, equity and debt financings, recapitalizations and restructurings, and executive compensation and incentive equity matters, as well as advising on general corporate governance and compliance.
Ray is a member of UNICEF's Midwest Regional Board of Directors and the Northwestern Gridiron Network.
Representative matters include the representation of:
VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC), a SPAC sponsored by Victory Park Capital, in its US$4 billion business combination with Dave Inc., a financial platform.
VPC Impact Acquisition Holdings II (Nasdaq: VPCB), a SPAC sponsored by Victory Park Capital, in its US$2.5 billion business combination with FinAccel, the parent of artificial intelligence-enabled digital consumer credit platform Kredivo.
VPC Impact Acquisition Holdings (Nasdaq: VIH), a SPAC sponsored by Victory Park Capital, in its US$2.1 billion business combination with Bakkt Holdings, a digital asset marketplace.
dMY Technology Group, Inc. (NYSE: DMYT), a SPAC, in its US$1.78 billion business combination with Rush Street Interactive, LP, a US-based online casino and sports betting company.
Rotunda Capital Partners, an operationally-focused private equity firm, in its acquisition of Storm Smart, one of the largest vertically integrated direct to consumer marketers, manufacturers and installers of storm protection products in the state of Florida.
Aptean, Inc., a global provider of mission-critical enterprise software solutions and portfolio company of Vista Equity Partners, in its acquisition of Lascom, a leader in product lifecycle management (PLM) solutions for the manufacturing sector.
Victory Park Capital, a leading private equity firm focused on emerging and established businesses across various industries in the U.S. and abroad, in numerous transactions.
Monroe Capital, a private credit asset management firm specializing in direct lending and opportunistic private credit investing, in multiple transactions.
SoftBank Vision Fund in its investment in Energy Vault, a startup using ground-breaking technology to facilitate long term energy storage based in Switzerland.
Intermediate Capital Group plc in connection with a second lien credit facility, consisting of an initial term loans and delayed draw term loans, in part to finance the acquisition of Utimus Fund Solutions and The Gemini Companies by the sponsor, GTCR.
Alliant Insurance Services and Stone Point Capital LLC in connection with a preferred equity offering to various co-investors and a preferred equity repurchase from Alliant Insurance Services' majority preferred equity holder.
Representative matters prior to joining White & Case include the representation of:
Vista Equity Partners, a leading private equity firm focused on software, data, and technology-enabled businesses, and its affiliates, in numerous transactions, including the following:
- its joint venture with Bain Capital in the merger of four innovative software businesses: Superion, TriTech Software Systems along with Zuercher Technologies, and the public sector and healthcare business of Aptean;
- its merger of its portfolio companies, PowerSchool and PeopleAdmin (each providers of educational software), concurrent with an investment from Onex Corp;
- its acquisition of Regulatory DataCorp, Inc. (RDC), a leader across the governance, risk, and compliance industry, from Bain Capital Ventures and others;
- the acquisition of Malauzai, a provider of mobile and Internet banking solutions for community financial institutions, by Finastra, a portfolio company of Vista Equity Partners; and
- the acquisition of Public Safety Corp., a technology and technology-enabled services company focused on state and local government public safety projects and programs, by Superion LLC, a portfolio company of Vista Equity Partners.
Clearlake Capital in its joint venture with Vista Equity Partners in EagleView Technologies, a leading provider of aerial imagery and property data analytics.
Rotunda Capital Partners LLC in numerous transactions, including the following:
- its investment in StreetShares Inc., a leading provider of small business loans and government contract financing for businesses owned by members of the military and veterans' community; and
- its acquisition of IF&P Foods, a leading distributor of fresh fruits, vegetables, and other essential produce items to grocers and retailers in more than 14 Midwestern states.
Falconhead Capital in the sale of substantially all of the assets of Rita's Holdings, LLC, a leading Italian ice and frozen treat franchisor, to an affiliate of Argosy Capital.
Jump Capital, in the sale of ProPharma Group, a leading provider of outsourced medical information, pharmacovigilance, and compliance consulting services to customers in the pharmaceutical, biotechnology and medical device industries, to Linden Capital Partners.
L Squared Capital Partners, an investment firm focusing on long-term investments in leading growth companies operating in targeted sectors, in numerous transactions, including the following:
- its investment in Virtium Technology, a solutions-driven provider of industrial memory and embedded solid-state drive (SSDs) storage products; and
- its acquisition of Teaching Strategies, a leading provider of early childhood educational resources, including curriculum and web-based assessment products.
Levine Leichtman Capital Partners in its acquisition of Allied Aerofoam Products, a fabricator of niche foam products across an array of end markets and applications (e.g. pet beds, packaging and specialty children's furniture).
GrubHub Inc., in its acquisition of Restaurants on the Run, a West coast online and mobile food-ordering company.
Madison Dearborn Partners in its divestiture of BWAY Corporation, one of the largest makers of rigid metal and plastic containers in North America.
Monomoy Capital Partners in its acquisition of Escort Inc ., a market leader in the design, manufacture and distribution of radar and laser detectors and automotive accessories.
Ferrara Pan Candy Company in its merger with Farley & Sathers Candy Co.
Bradford Exchange / Hammacher Schlemmer & Co. in its sale to its employee stock ownership plan.
Lee Equity Partners in its acquisition of Paragon Industries, Inc., a leading manufacturer of oil Country tubular goods and line pipes.
optionsXpress, a retail online brokerage services focused on equity options and futures, in its sale to Charles Schwab, a leading provider of financial services.
Macquarie Capital, a global provider of banking, financial, advisory, investment and funds management services, in numerous transactions, including the following:
- its acquisition of Fox-Pitt Kelton Cochran Caronia Waller LLC, an investment bank specializing in services for financial institutions; and
- its sale of Petermann Partners, a provider of student transportation services in the U.S.
Waud Capital Partners in its acquisition of Acadia Healthcare, a leading provider of inpatient behavioral healthcare services.
Olympus Partners, a leading private equity firm, in numerous transactions, including the following:
- its acquisition of Churchill Financial, a leading middle market focused commercial finance company;
- its acquisition of NPC International, the largest Pizza Hut franchisee and the largest franchisee of any restaurant concept in the U.S.; and
- its acquisition of Atlas Industrial Service LLC, a provider of mill services to the global steel industry.
Thoma Bravo, LLC, a leading private equity investment firm, in its acquisition of Plato Learning, Inc., a leading provider of instructional technology for the K-adult market.
GTCR, one of the nation's leading private equity firms, in its investment in Ironshore, Inc., a leading specialty insurance company.
Sun Capital Partners, a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, in its acquisition of Frozsun, Inc., a leading value-added U.S. supplier of frozen strawberry products as well as a distributor and marketer of fresh strawberries and red peppers.
Madison Dearborn Partners, as part of an investor group, in the acquisition of Nuveen Investments, a leading provider of diversified investment services to institutional and high-net-worth investors.
Leading Lawyer for M&A and Private Equity in the United States, Euromoney, 2019, 2020, and 2021
Recipient of the "Emerging Leaders Award", The M&A Advisor, 2019