Nicholas Schwartz is a partner in the Finance Group, where he represents private equity and corporate borrowers and sponsors in finance transactions, including leveraged buyouts and acquisition financings. He also has significant experience advising clients on the financing and strategic elements of in-court and out-of-court restructurings, including in complex liability management and other capital structure transactions.
Nick has advised a number of leading private equity sponsors, including 3G Capital, Apax Partners, Clearlake Capital, EQT, Nordic Capital, Ridgeview Partners, Siris Capital and Stonepeak Partners, as well as their portfolio companies. He has also represented a number of public and private companies, including Restaurant Brands International, Spire and Utz Brands, among others.
Nick is recognized for his work by leading publications, including Chambers Global and Chambers USA: Banking & Finance. He has also been recognized as a “Rising Star Partner” and “Notable Practitioner” by IFLR1000, and was recommended as a “Next Generation Lawyer” in Commercial Lending by The Legal 500.
Some of Nick’s notable representations include*:
Private Equity Financings
- Clearlake Capital in the financing aspects of several transactions, including:
- its $7.7 billion take-private acquisition of Dun & Bradstreet Holdings, a global provider of business decisioning data and analytics
- its significant majority growth investment in ModMed, a developer of AI-powered medical practice technology
- its $2.1 billion acquisition, along with Francisco Partners, of Black Duck Software (f/k/a Software Integrity Group), from Synopsys
- its $4.4 billion take-private acquisition of Alteryx, a leader in AI for enterprise analytics
- its $5.4 billion acquisition of Quest Software, a creator and manager of software solutions to create IT resilience for data, infrastructure and systems
- its $5.2 billion take-private acquisition of Cornerstone OnDemand, a global leader in talent management software
- Stonepeak Partners in the financing aspects of several transactions, including:
- its debt and equity financing to Akumin, a leading provider of diagnostic imaging services, in connection with Akumin’s acquisition of Alliance Healthcare Services
- its agreement to acquire a 50% interest in Key Access Pipeline System (KAPS), a Canadian natural gas liquids and condensate pipeline system
- Oryx Midstream Holdings in its incremental term loan facility to finance a distribution to equity holders and subsequent refinancing of its $1.85 billion senior secured credit facilities
- 3G Capital in the financing aspects of several transactions, including:
- its take-private acquisition of Burger King Corporation
- its take-private acquisition of H.J. Heinz Company
- Siris Capital in the financing aspects of several transactions, including:
- its acquisition of BearCom, a leading North American solutions provider of wireless communications and security technologies
- Electronics for Imaging, a global technology company leading the worldwide transformation from analog to digital imaging, in connection with the incurrence and amendment of multiple credit facilities and the financing aspects of its sale of Fiery, LLC to Seiko Epson Corporation
- TPx Communications, a leading nationwide-managed services provider delivering cybersecurity, managed networks and cloud communications, in its refinancing of approximately $600 million in term loans and revolving loans under TPx’s existing credit agreement into new superpriority secured credit facilities and concurrent equity investment led by Siris
- Apax Partners, Apax Digital Growth and their portfolio companies in dozens of financing transactions, ranging in size from $25 million to over $3 billion, for portfolio companies including Epicor, Activant, Acelity, One Call, Paradigm Geophysical, Paycor, Kepro, Quality Distribution, Lexitas, Coalfire, MyCase, Trade Me, MetaMetrics, Thoughtworks, InnovAge, ECI and Ideal Protein
Public Company Financings
- Spire in the financing for its $2.48 billion acquisition of the Piedmont Natural Gas’ local distribution company business in Tennessee
- Restaurant Brands International, a multinational fast-food holding company composed of Burger King, Popeyes Louisiana Kitchen, Tim Hortons and its predecessors, in multiple financings, including:
- its $1 billion acquisition of Carrols Restaurant Group
- the refinancing of its $5.43 billion senior secured credit facilities
- the refinancing and upsize of its revolving credit facility and certain term loan facilities to finance its $1 billion acquisition of Firehouse Subs
- Burger King Worldwide in its acquisition of Tim Hortons and the subsequent acquisition of Popeyes
- H.J. Heinz Company in connection with the merger of Heinz with Kraft Foods Group
- Utz Brands, a leading snack food company, in multiple financings, including:
- its $630 million refinancing of senior secured term loan facility
- its $225 million amendment and extension of asset-based revolving credit facility
- an incremental term loan financing and loan financing secured by certain real property
- its acquisitions of Inventure Foods and Truco Enterprises, as well as the financing aspects of its de-SPAC transaction with Collier Creek Holdings
- Prestige Consumer Healthcare, the largest independent provider of over-the-counter products in North America, in multiple financings, including:
- its acquisition of the Akorn Consumer Health business
- multiple acquisitions, including Insight Pharmaceuticals, C.B. Fleet and certain over-the-counter brands of GlaxoSmithKline
Liability Management/Restructuring
- Stonepeak Partners in connection with the Chapter 11 cases of Akumin, a leading national provider of outpatient radiology and oncology solutions, the culmination of Stonepeak consummating a “loan to own” take-private transaction, including the provision of a DIP credit facility and a significant recapitalization upon emergence through additional equity contributions, the issuance of new notes and entry into a new revolving credit facility
- Ebix, which operates an insurance exchange platform as well as providing other financial services focused on the insurance industry, in its Chapter 11 cases, including its DIP financing and various prepetition financing transactions
- TPx Communications in its multitranche debt exchange, including the uptiering of a portion of its $639 million existing first lien term loan facility, the purchase of certain other loans by sponsor Siris Capital and amendment to nonparticipating term loan and revolving credit facilities
- Affiliates of Clearlake Capital, Symphony Technology and Archer Technologies, a leading provider of integrated risk management cloud software solutions, in the sale of Archer to Cinven Limited and related amendment to the credit facilities of RSA Security, a global provider of mission-critical cybersecurity software and governance risk and compliance management software solutions
- Jervois Global, an Australia-headquartered global supplier of advanced manufactured cobalt products with mining and refining operations, in its Chapter 11 cases and related cross-border take-private recapitalization
- iHeartMedia in its Chapter 11 cases, including its DIP credit agreement and exit financing facilities, as well as both iHeartMedia and its subsidiary Clear Channel Outdoor, in their prepetition financing activities, including multiple amend and extend, debt exchange and refinancing transactions
- FullBeauty Brands in its Chapter 11 cases and prior financing activities, including complex multiparty negotiations with the company’s creditors in the months leading up to the commencement of the Chapter 11 cases and various liability management financing transactions
- Paradigm Geophysical in its sale to Emerson and concurrent negotiations with the company’s creditors to obtain forbearance agreements under the company’s various debt agreements which enabled the sale process to proceed
- Things Remembered in its out-of-court restructuring and subsequent Chapter 11 proceedings
Nick co-authored the chapter “USA – California: Trends and Developments” in Chambers Global Practice Guide, and served as moderator in the “EdTech Panel” at Harvard Business School’s VCPE Conference.
*Includes matters handled prior to joining Paul, Weiss.
