Gladstone Place Partners represents WeWork as it inks a SPAC deal with BowX Acquisition Corp to pave the way for the flexible space provider to go public.
 |
The deal puts $9B enterprise valuation on WeWork and provides it with $1.3B to fund future growth plans.
WeWork CEO Sandeep Mathrani said WeWork spent pandemic year 2020 “transforming the business and refocusing its core” and the COVID-19 outbreak-flexible work schedules proved that its value proposition is stronger than ever.
During 2020, WeWork slashed SGA expenses by $1.1B, exited non-core businesses, exited from underperforming locations, achieved rent reductions, and sliced 67 percent of its workforce. It posted a flat $3.2B revenues for the year.
WeWork has more than 850 locations in 150 cities, totaling more than 1M workstations.
Gladstone Place's Lauren Odell and Felipe Ucros handle WeWork's deal.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
Have a comment? Send it to 
No comments have been submitted for this story yet.