Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represented Right Networks in selling a controlling interest in the company to BV Investment Partners (BV), a middle-market private equity firm focused on the business services and IT services sectors.
Per the terms of the transaction, BV will own a majority of the recapitalized company and Right Networks’ senior management team will maintain a significant interest. The partnership will bring investments in the Right Networks platform and infrastructure, along with opportunities for new partnerships and acquisitions to expand and grow its service offerings.
Right Networks is a premier provider of cloud solutions to accountants and small and medium-sized businesses (“SMBs”). It is the hosting and solutions provider for QuickBooks accounting software and other business-critical applications used by SMBs.
BV Investment Partners is currently investing its eighth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $2.9 billion in 86 companies, actively targeting investments in the business services and IT services sectors.
Leading the transaction on behalf of Right Networks was Gregory S. Fine, a Member of Mintz Levin’s Corporate and Securities Practice. The Mintz Levin team also included Steve Ganis and Breton Leone-Quick, Members of the Litigation Practice, Scott C. Ford, Section Head for the Litigation Practice, Joseph W. Price, Member of the Corporate and Securities Practice, and Roy W. Gillig, a Member of the Tax Practice; with assistance from Minhaj Rahman, Bethany Hickey, Robert D. Giacchetti, Matthew T. Simpson and Mark Nemes, attorneys in the Corporate and Securities Section.
Mintz Levin has not only legal depth but significant industry experience helping clients with M&A and other transactions of many kinds and sizes in the software as a service (SAAS) and financial technology (FinTech) spaces.