James S. Rowe
Overview
James S. Rowe is a retired partner in the corporate transactional group with more than 30 years of experience in corporate finance transactions, mergers and acquisitions, and the representation of public and private companies in a wide array of corporate and securities matters. Jim represented a broad range of clients, with a principal focus on representing private equity funds and their portfolio companies in capital markets transactions, including IPOs and public and private offerings of high yield and investment grade debt, and in mergers, acquisitions and divestitures, including leveraged buyouts and "going private" transactions. Jim has considerable experience in advising both seasoned and newly public companies on securities and corporate governance matters and routinely advised directors and officers on fiduciary responsibilities and disclosure obligations.
Experience
Representative Matters
Public Mergers and Acquisitions, Securities Offerings and Public Company Investments
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Counsel to Madison Dearborn Partners in its $7.4 billion leveraged buyout of CDW Corporation in a "going private" transaction, with principal responsibility for the $2.0 billion bridge financing and subsequent bridge-to-bond exchange
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Counsel to CDW in numerous offerings of secured and unsecured notes generating several billion dollars of proceeds and a number of concurrent high yield fixed dollar tender offers
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Counsel to CDW in its $455 million initial public offering of common stock
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Counsel to CDW and Madison Dearborn Partners in five underwritten follow-on equity offerings for CDW generating aggregate proceeds of $2.3 billion
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Counsel to iHeartCommunications (formerly Clear Channel Communications), a portfolio company of Bain Capital and Thomas H. Lee Partners, in seven high yield offerings of an aggregate of $4.3 billion of priority guarantee notes and $850 million of senior unsecured notes
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Counsel to iHeartCommunications in its $2.1 billion bond-for-bond exchange offer
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Counsel to iHeartCommunications in its $2.0 billion term loan-for-bond exchange offer
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Counsel to Clear Channel Outdoor in its high yield offering of $2.725 billion of senior notes and concurrent bond tender offer for all $2.5 billion of its outstanding senior notes
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Counsel to Clear Channel Outdoor in its high yield offering of $2.2 billion of senior subordinated notes
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Counsel to Clear Channel International B.V. in three cross-border offerings of secured and unsecured notes
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Counsel to Office Depot, Inc. in its proposed $3.5 billion public stock-for-stock merger with Staples, Inc. (subsequently abandoned due to antitrust objections)
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Counsel to Myogen, Inc. in its $2.4 billion acquisition by Gilead Sciences, Inc.
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Counsel to Sirona Dental Systems GmbH, a portfolio company of MDP, in its $1.9 billion reverse acquisition of Schick Technologies, Inc.
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Counsel to Conseco, Inc. in its $1.6 billion initial public offering of common stock and mandatorily convertible preferred stock shortly following its emergence from bankruptcy
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Counsel to Madison Dearborn Partners and National Mentor Holdings, Inc. in connection with National Mentor's issuance of $150 million of senior subordinated notes in a dividend recap transaction
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Counsel to National Mentor in its $250 million offering of senior notes and concurrent bond tender offers and consent solicitations
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Counsel to Civitas Solutions (formerly known as National Mentor) it its $199 million initial public offering of common stock
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Counsel to Madison Dearborn Partners in the concurrent high yield issuance of $550 million of senior subordinated notes and $100 million of senior exchangeable preferred stock of Packaging Corporation of America in connection with MDP's $2.2 billion leveraged buyout of PCA
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Counsel to Packaging Corporation of America in its $555 million initial public offering of common stock
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Counsel to Packaging Corporation of America in its bond tender offer and consent solicitation and concurrent investment grade offering of $550 million of senior notes
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Counsel to Packaging Corporation of America in an investment grade offering of $400 million of senior notes
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Counsel to a leading property and casualty insurer in its $900 million offering of senior notes from a universal shelf
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Counsel to Madison Dearborn Partners and Ruth's Chris Steak House, Inc. in Ruth's Chris' $270 million initial public offering of common stock and Ruth Hospitality Group's subsequent convertible preferred stock PIPE with Bruckmann, Rosser, Sherrill & Co. and related proxy solicitation and common stock rights offering
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Counsel to Summit Partners and SeaBright Insurance Holdings, Inc. in SeaBright's $90 million initial public offering of common stock and subsequent follow-on offering of $115 million of common stock
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Counsel to SeaBright Holdings in its $252 million sale to Enstar Group Limited
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Counsel to Summit Partners and Physicians Formula Holdings, Inc. in Physicians Formula's $150 million initial public offering of common stock and subsequent follow-on offering of $105 million of common stock
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Counsel to Sun Capital Partners and Horsehead Holdings Corp. in Horsehead's 144A equity offerings of an aggregate of $395 million of common stock and subsequent shelf registration and equity redemption
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Counsel to Horsehead Holding Corp. in its $100 million initial public offering of common stock and subsequent shelf takedowns of an aggregate of $161 million of common stock
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Counsel to Horsehead Holding Corp. in a $100 million offering of convertible notes and a $175 million offering of senior secured notes
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Counsel to Great Hill Partners and Prommis Solutions Holdings Corp. in its proposed $150 million initial public offering (subsequently withdrawn due to market conditions)
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Counsel to Sun Capital Partners in its proposed $290 million acquisition of Goody's Family Clothing, Inc. through an equity tender offer (subsequently withdrawn upon payment of a breakup fee in connection with the target's acceptance of a superior proposal)
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Counsel to H.I.G. in its going private buyouts of Allion Healthcare, Inc., Matrixx Initiatives and Comverge Technologies
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Counsel to Great Hill Partners in its $180 million buyout of CAM Commerce, Inc.
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Counsel to Youbet, Inc. in its $135 million stock-for-stock-and-cash acquisition by Churchill Downs, Inc.
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Counsel to FTD in its stock-for-stock squeeze out merger of the publicly-held minority interest of FTD.COM
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Counsel to BWAY Corporation in its $330 million sale to Kelso & Company in a leveraged buyout "going private" transaction
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Counsel to Bcom3 in a $2 billion private placement of shares in connection with the business combination of The Leo Group and The MacManus Group
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Counsel to Brantley Mezzanine Capital Corp., a business development company, in its proposed $116 million initial public offering of common stock
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Counsel to Madison Dearborn Partners and Pierre Foods, Inc. in the issuance of $125 million of senior subordinated notes and a concurrent $115 million bond tender offer and consent solicitation, each in connection with MDP's $420 million leveraged buyout of Pierre
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Counsel to Code Hennessy & Simmons in the issuance of $150 million of senior notes by Gundle/SLT Environmental, Inc. in connection with CHS's $256 million leveraged buyout of the issuer in a "going private" transaction
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Counsel to Madison Dearborn Partners in the issuance of $100 million of high yield debt and $30 million of preferred and common equity units by Tuesday Morning Corporation in MDP's $325 million leveraged buyout of the issuer in a "going private" transaction
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Counsel to Madison Dearborn Partners and Tuesday Morning Corporation in underwritten secondary offerings of $159 million of common stock in a direct registration, $220 million of common stock in a subsequent shelf takedown and $100 million of common stock in a subsequent "bought deal"
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Counsel to Madison Dearborn Partners and other selling stockholders in their registered offering of $430 million of common stock of CapitalSource Inc.
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Counsel to Polymer Group, Inc. in its $400 million private offering of senior subordinated notes and in its concurrent $100 million bond tender offer and consent solicitation
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Counsel to FMC and its 80%-owned subsidiary, FMC Gold Company, in FMC Gold's reincorporation into Canada and subsequent Cdn.$267 million secondary offering of common shares publicly in Canada and privately in the United States and Europe
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Counsel to Madison Dearborn Partners in connection with its proposed $150 million convertible preferred stock investment in Forcenergy, Inc.
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Counsel to Hines Horticulture, Inc. in its $120 million offering of senior subordinated notes
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Counsel to Hines Horticulture, Inc. in its $56 million initial public offering of common stock and related corporate restructuring and reincorporation into Delaware
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Counsel to Avalon Cable in its $150 million offering of senior subordinated notes and $196 million offering of senior discount notes
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Counsel to Seven-Up/RC Bottling Company of Southern California, Inc. in its $140 million initial public offering of senior secured notes
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Counsel to Wireless One, Inc. in its $100 million initial public offering of senior discount notes and warrants and $30 million of common stock
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Counsel to Petstuff, Inc. in its $40 million initial public offering of common stock and its subsequent $100 million public stock-for-stock merger with PetSmart, Inc.
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Counsel to Pittway, Inc. in its multinational tax-free spinoff of AptarGroup, Inc.
Underwriters' and Investment Banker Counsel
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Counsel to Goldman Sachs in the $135 million carveout IPO of Coach, Inc. from Sara Lee
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Counsel to Goldman Sachs in a $65 million public primary and secondary offering of common stock of AptarGroup, Inc.
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Counsel to Goldman Sachs in a proposed public offering of equity securities of a telecom concern
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Counsel to Keefe, Bruyette & Woods in two underwritten offerings of an aggregate of $138 million of common stock of Chemical Financial Corporation
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Counsel to Keefe, Bruyette & Woods in an underwritten offering of $68 million of common stock of Old Second Bancorp
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Counsel to Keefe, Bruyette & Woods in an underwritten offering of $67 million of common stock of QCR Holdings
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Counsel to CS First Boston in a $64 million public primary and secondary offering of common stock of Easco, Inc.
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Counsel to Mesirow Financial, Inc. as financial advisor to the special committee of the board of directors of Home Products International in a "going private" transaction
Private Mergers and Acquisitions, Leveraged Recapitalizations and Venture Capital Investments
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Counsel to The Northwestern Mutual Life Insurance Company in its acquisition of LearnVest
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Counsel to Rand McNally & Company in its leveraged recapitalization and sale to AEA Investors, Inc. in an auction sale led by Goldman Sachs
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Counsel to Rand McNally & Company in the divestiture of three of its manufacturing businesses in the U.S. and in Europe in a series of auction sales led by Lehman Brothers
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Counsel to Anchor Food Products in its sale to McCain Foods and H.J. Heinz & Co. in an auction led by UBS Warburg
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Counsel to Kraft in the private auction sale of its Log Cabin Syrup business to Aurora Foods
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Counsel to a leading property and casualty insurer in its private acquisition of Sterling Collision Centers, Inc.
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Counsel to Madison Dearborn Partners in its $200 million leveraged acquisition of Hines Horticulture, Inc. and four subsequent add-on acquisitions
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Counsel to Madison Dearborn Partners in connection with its acquisition and subsequent $185 million sale of a retail art manufacturer to private equity investors
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Counsel to a private electronics concern in its $105 million leveraged recapitalization and sale to a private equity investor group
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Counsel to Polymer Group, Inc. in its private acquisition of a fabrics manufacturer in Monterrey, Mexico
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Counsel to Chase Manhattan Bank's SBIC in two subordinated debt and equity investments in leveraged buyout transactions
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Counsel to Marquette Venture Partners in a private equity investment in a software development concern
Bankruptcy Transactions and Restructurings
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Corporate and securities counsel to iHeartMedia in its Chapter 11 reorganization
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Corporate and securities counsel to Horsehead Holdings, Inc. in its Chapter 11 reorganization
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Corporate and securities counsel to Conseco, Inc. in its Chapter 11 reorganization
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Corporate and securities counsel to Pierre Foods, Inc., a portfolio company of Madison Dearborn Partners, in its Chapter 11 reorganization
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M&A counsel to TWA in its sale to American Airlines in a Section 363 bankruptcy proceeding
Joint Ventures
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Counsel to Packaging Corporation of America in a $275 million joint venture of timberland assets
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Counsel to a leading property and casualty insurer in its joint venture with Internet Enrollment Solution
Asset-Backed Securities Offerings
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Counsel to General Motors Acceptance Corporation in the public offering of over $4.0 billion of securities backed by "wholesale" dealer receivables
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Counsel to General Motors Acceptance Corporation in seven public offerings covering approximately $9.6 billion of securities backed by "retail" vehicle receivables
More
Thought Leadership
Publications
Author, “The Securities Act of 1933 and Section 5 Issues,” chapter two of a two-volume securities compilation entitled “Securities Law,” 2003 Edition, published by the Illinois Institute of Continuing Legal Education
Author (with Jack S. Levin and Robert M. Hayward of Kirkland & Ellis), “What Every Private Equity Professional Must Know About Sarbanes-Oxley Reforms,” Venture Capital Review, Issue 11, Fall/Winter 2002
Seminars
Panelist, "The Process of an IPO," sponsored by Northwestern University's Entrepreneurship Law Center Student Group, March 2012
Panelist, Corporate & Securities Law Forum, "Looking Around the Corner: What's Next in Transaction Trends, Governance and Compliance," co-sponsored by Kirkland & Ellis LLP and the New York Stock Exchange, November 2004
Panelist, "SEC 'Hot Topics' Institute," sponsored by Glasser LegalWorks and RR Donnelley, delivering a presentation entitled "The Impact of Sarbanes-Oxley on the Underwriting Process and M&A Transactions," May 2004
Panelist, "Audit Committees and Auditor Independence: Managing Change in Changing Times," Ray Garrett Jr. Corporate and Securities Law Institute, Northwestern Law School, April 2003
Panelist, November 2002 symposium "Corporate Responsibility in an Era of Regulatory Change: Making Sense of the New Rules," co-sponsored by Kirkland & Ellis and the New York Stock Exchange
Panelist, "The Securities Laws and the Internet," Ray Garrett Jr. Corporate and Securities Law Institute, Northwestern Law School, April 2000, delivering a presentation entitled "Counseling an Issuer in Responding to Cybersmear"
Speaker, Annual Securities Law Institute of the Chicago Bar Association, March 2000, discussing recent developments under the Securities Act of 1933 and delivering a presentation entitled "Traps for the Unwary in the Administration of Directed Share Programs"
Recognition
Recognized in the 2012–2016 and 2020 editions of The Legal 500 U.S. in Capital Markets: High-Yield Offerings as an attorney in 2012 with a "growing reputation." In 2015, clients noted that Jim is "very pleasant to work with."
Memberships & Affiliations
Chairman of the Securities Act Subcommittee of the Securities Law Committee of the Chicago Bar Association, 1999–2001
Member of the Board of Directors and Strategic Planning Committee of Big Brothers Big Sisters of Metropolitan Chicago, 2011–current
Member of the Duke Law Board of Visitors, 2017–current
Credentials
Admissions & Qualifications
- 1991Illinois
Education
- Duke University School of LawJ.D.1991
- University of Illinois at Urbana-ChampaignA.B., Political Sciencemagna cum laude1988