Simpson Thacher Represents Atairos in $360 Million Share Repurchase by TriNet
09.14.23
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Simpson Thacher represented affiliates of Atairos Group, Inc. in connection with the repurchase of 3,364,486 shares by TriNet Group, Inc. (NYSE: TNET), resulting in aggregate proceeds of $360 million. The share repurchase from affiliates of Atairos, TriNet’s largest stockholder, was completed after the expiration of TriNet’s fully subscribed August tender offer, with the transactions resulting in a total of $1.0 billion in share repurchases.
TriNet provides small and medium-size businesses with full-service industry-specific HR solutions, including both professional employer organization and human resources information system services. Atairos is an independent strategic investment company focused on supporting growth-oriented businesses across a wide range of industries. Atairos provides a unique combination of active strategic partnership and patient long-term capital to high-potential companies and their management teams.
The Simpson Thacher team included Anthony Vernace and Ngozi Nezianya (M&A); Hui Lin (Capital Markets); and Jennifer Nadborny and Bettina Elstroth (Public Company Advisory Practice).