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Helping a Client through Its Successful IPO

Our client, a global manufacturer, was owned by a large private equity firm. That PE firm decided the client should undertake an initial public offering of its shares as part of the PE firm's exit strategy. While the PE firm owner directed that our client use the owner's New York counsel as lead for the IPO transaction, our regular interaction with and deep knowledge of the client led it to involve the Quarles & Brady team to help assure that the client's interests (and not just the owner's) were being zealously represented. We worked with our client's management team well in advance of the offering to help the client think and plan through governance, compensation, structural, and other matters to be addressed prior to and during an offering, to educate the client both on the IPO process and the compliance requirements going forward, and to develop practical and effective compliance strategies.

When the PE firm owner decided to launch the offering in earnest (on very short notice), our client was well prepared to address the many needs of the transaction and transition. The Quarles & Brady team was an integral part of the offering, working collaboratively with the client, the owners, the underwriters, and NYC and underwriters' counsel to achieve a successful IPO. That offering raised about $500 million for the client and set the stage for several subsequent follow-on offerings that have raised additional capital for the client and reduced the PE firm's stake to below 20 percent.