Freshfields Advises Cinven on the $3.1 Billion Sale of CPA Global

Freshfields Bruckhaus Deringer LLP (Freshfields) has advised leading international private equity firm Cinven on its disposal of CPA Global to Leonard Green & Partners, L.P. for a total firm value of, according to reports, $3.1 billion (£2.4 billion) including debt. CPA Global is recognised as the world’s leading intellectual property management and technology company, providing IP software, services and data & analytics for corporates and law firms.

Cinven bought CPA Global for $1.2 billion (£950 million) five years ago. CPA’ Global’s current earnings before interest, tax, depreciation and amortisation are reported at $200.2 million (£155 million) in its latest fiscal year.

Under Cinven’s ownership since 2012, CPA Global has achieved strong growth and accelerated its global expansion, particularly in China and South Korea, both organically and through acquisitions. CPA Global has also successfully transformed into a technology-led business, with the development of new innovative products for IP professionals to automate IP processes and workflows, including CPA Global File and CPA Global’s proprietary IP Platform.

Freshfields partner David Higgins said: “We are delighted to have been able to support our long-standing client Cinven on this transaction and on the entire lifecycle of its relationship with CPA Global”.

The Freshfields team was led by partners David Higgins and Adrian Maguire. The same team also advised on Cinven’s original acquisition of CPA Global in March 2012.

This is the second large sale of a technology company by Cinven on which Freshfields has acted in the last 12 months. In late 2016, it was announced that the firm had advised Cinven on its €1.69bn sale of web services provider HEG to GoDaddy Inc.