BDT’s Combination with MSD

On October 20, 2022, BDT & Company Holdings, L.P. (“BDT”) and MSD Partners, L.P. (“MSD”) announced that they have entered into a definitive business combination agreement under which they will create an advisory and investment firm serving the distinct needs of family‑ and founder‑led business owners and strategic, long‑term investors. The combination will unite BDT, a merchant bank that provides advice and long‑term capital through its affiliated funds, and MSD, a long‑term oriented investment firm. Cravath is representing BDT in connection with the transaction.

The Cravath team is led by partner David J. Perkins and includes associates Maurio A. Fiore, Christopher M. Tierney and Paul D. Kim on M&A matters; partners Christopher K. Fargo and Arvind Ravichandran and associates Carlos Nicholas Obando and Christopher M. Winters on tax matters; partner Matthew M. Kelly and associate Peter W. Kim on financing matters; partners Eric W. Hilfers and Matthew J. Bobby, senior attorney Sarah W. Colangelo and associate Jana I. Hymowitz on executive compensation and benefits matters; partner Michael L. Arnold and of counsel Kimberley S. Drexler on corporate governance matters; partner Sasha Rosenthal‑Larrea and associate Carys J. Webb on intellectual property matters; and practice area attorney Brian M. Budnick on real estate matters. Katie DelGhingaro also worked on M&A matters.