Mr. Thetford has represented strategic clients, financial institutions, private equity sponsors, portfolio companies, family offices and special committees in a variety of U.S. and cross-border acquisitions, dispositions, investments, joint ventures, restructurings, spin-offs, initial public offerings, REIT matters and SPAC transactions. He regularly advises clients on shareholder activism, takeover preparedness, securities laws, SEC disclosure and corporate governance matters. He also advises the firm’s investment banking clients as financial advisors in M&A transactions.
Mr. Thetford has represented a diverse set of clients in a broad range of industries. These transactions have included:
- Willis Towers Watson in its pending $80 billion combination with Aon plc;
- Becton, Dickinson and Company in its $24 billion acquisition of C. R. Bard, Inc.;
- Aircastle Limited in its $7.4 billion acquisition by Marubeni Corporation and Mizuho Leasing Company;
- Vanguard Health Systems, Inc. in its $4.3 billion acquisition by Tenet Healthcare Corporation;
- Life Time Fitness, Inc. in its $4 billion acquisition by Leonard Green & Partners and TPG Capital, and its exploration of a spin-off of its real estate assets into a REIT;
- Fortress Investment Group LLC in its $3.3 billion acquisition by SoftBank Group Corp.;
- Brookdale Senior Living Inc. in its $2.8 billion merger with Emeritus Corporation;
- RailAmerica, Inc. in its $2.8 billion acquisition by Genesee & Wyoming Inc.;
- Danaher Corporation in a $2.6 billion reverse Morris trust transaction involving the merger of its communications business with NetScout Systems, Inc.;
- SeaCube Container Leasing Ltd. in its $1.8 billion acquisition by Ontario Teachers’ Pension Plan;
- Intrawest Resorts Holdings, Inc. in its $1.5 billion acquisition by Aspen Skiing Co, LLC and KSL Capital Partners, LLC;
- New Residential Investment Corp. in its $1.4 billion acquisition of Home Loan Servicing Solutions, Ltd.; and
- Danaher Corporation in its $300 million acquisition of Keithley Instruments, Inc.
Private Equity and Family Office
- Fortress Investment Group in a variety of matters, including its:
- $250 million sale of Logan Circle Partners, Fortress’ traditional asset management business, to MetLife, Inc.;
- prior acquisition of Logan Circle Partners from Guggenheim Capital;
- sale of its majority stake in Abercrombie & Kent Group of Companies, S.A. to Zhonghong Holdings;
- acquisition of American General Finance Inc. from AIG; and
- sale of Iroko Holdings, LLC;
- Hg in a number of M&A matters, including its:
- sale of Mitratech to Ontario Teachers’ Pension Plan;
- acquisition of Litera Microsystems;
- sale of Sovos Compliance to Hg Saturn 2 and TA Associates;
- acquisition of Gen II Fund Services LLC as part of a consortium with General Atlantic and IHS Markit Ltd.; and
- investment in Benevity, Inc. alongside General Atlantic and JMIEquity;
- Perella Weinberg Partners Capital Management in:
- the spin-out of its growth equity platform to GreyLion Capital LP; and
- its sale of Infinity Transportation to Global Atlantic Financial Group;
- HPS Investment Partners in its acquisition of Citadel Servicing Corporation;
- York Capital Management in connection with various acquisitions, dispositions and investments, including its sale of The Bay Club Company to KKR;
- affiliates of MSX International, Inc. in connection with its acquisition by Bain Capital from a consortium including Court Square Capital Partners and Prudential Financial;
- Starwood Capital Group in various M&A and investment matters; and
- Wes Edens, founder of Fortress Investment Group and owner of the Milwaukee Bucks, in his joint investment with Nassef Sawiris in Aston Villa Football Club.
- Perella Weinberg Partners in its de-SPAC business combination with FinTech Acquisition Corp. IV (sponsored by Betsy and Daniel Cohen);
- Fortress Value Acquisition Corp. II (sponsored by Fortress Investment Group) in its $2.5 billion business combination with ATI Physical Therapy;
- Revolution Acceleration Acquisition Corp (sponsored by John Delaney and Revolution LLC (a venture fund founded by Steve Case and Ted Leonsis)) in its $2.7 billion business combination with Berkshire Grey, Inc.; and
- PWP Forward Acquisition Corp. I (sponsored by Perella Weinberg Partners) in its IPO.
- Apartment Investment and Management Company in its reverse spin-off of Apartment Income REIT Corp. and the related division of its publicly held operating partnership;
- Healthpeak Properties, Inc. (formerly HCP, Inc.) in various transactions, including its:
- spin-off of Quality Care Properties, Inc., a publicly traded REIT; and
- $6.1 billion acquisition of the real estate assets of HCR Manor Care from The Carlyle Group;
- Brookdale Senior Living Inc. in a number of transactions, including:
- the restructuring of its master lease with Ventas, Inc., including the sale of a $100 million housing portfolio and the issuance of warrants; and
- its $1.2 billion joint venture with HCP, Inc.;
- New Residential Investment Corp. in its:
- $212 million acquisition of Shellpoint Partners LLC; and
- $600 million capital raise (senior secured loan and warrants) from Canyon Partners;
- Emeritus Corporation in the sale by its joint venture with Blackstone Real Estate Partners of $1.8 billion of senior housing communities to HCP, Inc.;
- Darden Restaurants, Inc. in the spin-off of Four Corners Property Trust, Inc., a publicly traded REIT;
- Granite Point Mortgage Trust Inc. in its $600 million capital raise (senior secured loan and warrants) from PIMCO;
- New Senior Investment Group Inc. in connection with its publicly announced exploration of strategic alternatives and subsequent internalization of management;
- Drive Shack Inc. (formerly Newcastle Investment Corp.) in connection with its conversion from a REIT to a C-corporation and subsequent internalization of management; and
- a number of other public and private REITs, including SL Green Realty Corp. and CyrusOne Inc., in connection with various M&A, financing and other matters.
- OneMain Holdings, Inc. in the $1.5 billion acquisition of a 40% stake by an investor group led by Apollo Global Management, LLC and Värde Partners, Inc.;
- Aircastle Limited in the PIPE investment made in the company by Marubeni Corporation;
- Danaher Corporation in its acquisition of Devicor Medical Products;
- Sculptor Capital Management, Inc. (formerly Och-Ziff Capital Management Group LLC) in its strategic recapitalization plan;
- Holiday Retirement Corporation in its sales of a $1 billion senior housing portfolio to Newcastle Investment Corp. and a $790 million senior housing portfolio to Ventas, Inc.;
- various public companies in connection with proxy fights and other activist investor matters, including Aimco (Land & Buildings), Brookdale Senior Living Inc. (Land & Buildings; Sandell Asset Management), New Senior Investment Group Inc. (Levin Capital Strategies) and Newcastle Investment Corp. (BLR Partners); and
- a number of issuers in connection with initial public offerings, including Moelis & Company, One Main Holdings, Inc. (formerly Springleaf Holdings, Inc.), SeaCube Container Leasing Ltd. and RailAmerica, Inc.
Mr. Thetford is actively involved in Skadden’s training and recruiting programs and serves on the firm’s summer associate committee. He provides pro bono legal services to a variety of New York-based clients, including asylum seekers and various nonprofit organizations. He also serves on the board of directors of the nonprofit Behind the Book, which helps introduce innovative literacy programs to New York City public school students.
Mr. Thetford was featured in The Dealmaker Quarterly as one of the 2019 Rising Stars in M&A.