Simpson Thacher is representing Kronos Parent Corporation and its controlling stockholders, investment funds affiliated with Hellman & Friedman LLC, in connection with Kronos’s pending recapitalization transaction. In connection with the transaction, investment funds managed by Blackstone and GIC will make a $750,000,000 investment in Kronos and will acquire a minority stake in the company. The transaction is subject to customary closing conditions, including receipt of regulatory approvals.
Kronos is the global leader in delivering workforce management solutions in the cloud. Tens of thousands of organizations in more than 100 countries–including more than half of the Fortune 1000®–use Kronos to control labor costs, minimize compliance risk and improve workforce productivity.
The Simpson Thacher team includes: Rich Capelouto, Atif Azher, Jonathan Amt, Erica Wilson, Rob Woodward and Stephanie Richards (M&A); Brian Steinhardt and Seth Niedermayer (Credit); Peter Thomas, Ellen Frye, David Shogren, Andrew Winerman and John Goheen (Antitrust); Jason Vollbracht and Noah Metz (Tax); David Rubinsky, Jamin Koslowe and Nelli Zaltsman (Executive Compensation and Employee Benefits); and Joshua Walker and Michelle Morad (Intellectual Property). Chad Skinner and Adam Bentley provided invaluable assistance with the stockholder arrangements.