Andrew T. Budreika advises clients on private equity transactions, domestic and cross-border public and private mergers and acquisitions, debt financings, strategic investments, and other corporate transactions. Andrew also regularly counsels clients on securities law, corporate governance, and other general corporate and finance matters. He currently serves as the leader of the 40-lawyer Morgan Lewis CARES Act Loan Program Task Force, working with this cross-practice team to advise clients and colleagues on all aspects of COVID-19 related federal loan programs, especially the Paycheck Protection Program and Main Street Lending Program.
Consistent with Morgan Lewis’s core principles, Andrew is committed to providing exceptional client service and building long-term strategic relationships with clients focused on communication and collaboration. Andrew seeks first to listen and understand a client’s goals and the business context and then to provide insightful, creative, and tailored solutions that enable the client to achieve those goals within the client’s defined parameters for success. Andrew endeavors to bring together Morgan Lewis’s intellectual and global talent and resources to construct elite legal teams that deliver the best overall results and experience to clients.
Andrew is also passionate about using technology, knowledge management, legal project management, and other innovations in legal practice to provide fast, reliable, and consistent service in a cost-effective and efficient manner.
Andrew has practical experience handling a full spectrum of transactions including buyouts; platform acquisitions; exit transactions; mergers; add-ons and roll-ups; carve-outs and spin-offs; leveraged recapitalizations; and management rollovers and equity incentive structures. He also regularly works on matters involving growth equity, minority, and strategic investments; co-investments; corporate restructurings and reorganizations; and founder liquidity transactions. Additionally, Andrew advises on acquisition financings; syndicated bank loans; investment grade and high-yield bond offerings; asset-based loans; mortgage loan warehousing and repurchase facilities; and capital call lending transactions.
Private Equity and Mergers & Acquisitions
BizEquity, a leading provider of cloud-based business valuation tools and private business data, in a sale of majority ownership to, and significant capital investment by, American City Business Journals, the nation's largest publisher of local business information and a business unit of Advance Publications.
MedRisk, a provider of physical medicine solutions to the workers’ compensation industry, in its sale of a majority stake to The Carlyle Group.
Certara, a drug development and regulatory science company and a portfolio company of Arsenal Capital Partners, in its $850M sale to EQT Partners.
Certara in its acquisition of Analytica Laser, a global research consultancy focused on health economics and outcomes research and real-world evidence solutions.
Certara in its acquisition of BaseCase, a life sciences data visualization software as a service company.
The Gores Group in its acquisition of AMI Entertainment, a provider of digital jukeboxes and video systems to bars and restaurants in the US, UK, and Europe.
The Gores Group in its acquisition of Triumph Air Repair, an aerospace repair business known as TurbineAero.
WIRB-Copernicus Group (WCG), a clinical research solutions company and portfolio company of Arsenal Capital Partners, in its acquisitions of MedAvante (a clinical services technology company), ThreeWire (a global patient recruitment, enrollment and retention company), Clintrax Global (a clinical trial contract outsourcing company), and ePharmaSolutions (a clinical services technology company).
WCG in its recapitalization by Arsenal Capital Partners, MSD Capital and other institutional investors.
Arsenal Capital Partners in its platform acquisitions of Western Institutional Review Board and The Copernicus Group.
Lovell Minnick Partners in its acquisition of a majority interest in J.S. Held, a specialty advisory firm providing outsourced consulting services to its insurance industry clients.
SS Digital Media, a mobile device software company, in its sale to IAC/Interactive Corp.
The shareholders of Quintiq Holding B.V., a supply chain planning and optimization company, in the sale of Quintiq to Dassault Systèmes for €250 million ($322.9 million).
ShopRunner in its acquisition of PickupZone, a company that assists with online shopping.
Growth Equity and Venture Capital
LLR Partners in its $30 million minority equity investment in Midigator, a leading provider of chargeback management solutions software.
NewSpring Growth Capital in its investment in a Series B equity financing in Messagepoint, a provider of industry leading cloud-based customer communications management software solutions for insurance, financial services, healthcare and print service providers.
NewSpring Growth Capital in its investment in a $16 million equity financing in ExecOnline, a leading online provider of leadership development to senior leaders and executives.
NewSpring Growth Capital in its $12.5 million investment in ReviMedia Group B.V., a market leader in online lead generation that provides high-quality and transparent lead volume across a number of industry verticals.
Picwell, a company providing a digital support tool for health plan choice, in several preferred stock financings.
LLR Partners and NewSpring Growth Capital in their minority investments in Quintiq Holding B.V.
Debt Financings and Offerings
Livent Corporation (NYSE: LTHM), a leading, global, fully integrated lithium company and formerly the lithium business of FMC Corporation, in connection with its $400 million senior secured revolving credit facility.
AmerisourceBergen (NYSE: ABC) in numerous credit facilities and senior note offerings, including:
$1.25 billion senior note offering to finance its $815 million acquisition of H. D. Smith, the largest independent wholesaler in the US, and to redeem existing senior notes.
$1 billion senior unsecured term loan and $1.4 billion multi-currency revolving credit facility following the closing of its $2.575 billion acquisition of PharMEDium Healthcare.
Over $4.25 billion in senior note offerings since 2009.
FMC Corporation (NYSE: FMC) in numerous credit facilities and senior note offerings, including:
Committed financing from Citigroup consisting of a $1.5 billion, 364-day bridge term loan and, in certain circumstances, a $1.5 billion revolving credit facility and a $750 million term loan facility, for its announced acquisition of the agricultural products division of DuPont.
$3.5 billion in bank financing related to FMC’s purchase of Cheminova A/S, a Danish multinational crop protection company, for $1.8 billion, consisting of a $2 billion delayed draw unsecured term loan and the amendment and restatement of FMC’s existing $1.5 billion revolving credit agreement.
Various financing matters relating to the $1.64 billion sale of its alkali chemicals division to Tronox Ltd.
$1 billion in senior note offerings since 2009.
Tempur Sealy International (NYSE: TPX), one of the world’s largest bedding providers, in connection with:
Rule 144A/Regulation S offering of $600 million in senior notes and subsequent exchange offer.
$1.1 billion revolving and term loan senior secured facilities consisting of a $500 million revolving credit facility, a $500 million term loan facility and $100 million delayed draw term loan facility.
Walker & Dunlop (NYSE: WD), a premier commercial real estate finance company, in connection with over $4 billion in mortgage warehouse lines of credit and its $300 million senior secured term loan with Wells Fargo as administrative agent.
ATN International (NASDAQ: ATNI), a global holding company with investments in communications and renewable energy companies in North America, India, Bermuda and the Caribbean, in connection with a $200 million senior secured credit facility with CoBank as administrative agent.
CSS Industries, Inc. (NYSE: CSS), a leading consumer products company serving the craft, gift and seasonal markets, in connection with a new $125 million asset-based senior secured credit facility with JPMorgan Chase Bank, N.A. as administrative agent.
Armstrong World Industries (NYSE: AWI) in the financing related to the spinoff of its flooring business, Armstrong Flooring Inc. (NYSE: AFI), consisting of a $1.05 billion amended and restated credit facility at AWI and a $225 million asset-based loan revolving facility at AFI.
LLR Partners in its financing of a growth recapitalization of CareATC, Inc., a technology-driven employee population health management company.
Lovell Minnick Partners in its financing of the acquisition of ATTOM Data Solutions, a leading provider of real estate data and analytics.
Eureka Growth Capital in its financing of the acquisition of McCue Foundation, a provider of damage prevention and asset protection solutions for the retail and material handling sectors.
The Meet Group (NASDAQ: MEET), a fast-growing operator of social networks for meeting new people on mobile platforms, in its financing of its $60 million acquisition of if(we), a social and mobile technology company.
The Meet Group in its financing of its $70 million acquisition of Lovoo, a social dating app in Germany, Switzerland, and Austria.
Tucows (NASDAQ: TCX) in the financing of its acquisition of eNom, a leading domain name registrar business, from its parent company, Rightside Group, for $83.5 million.
Tucows (NASDAQ: TCX) in its $75 million credit facility with Bank of Montreal.
Fanatics, a privately held ecommerce company and provider of merchandising, marketing, and fulfillment services for professional sports leagues and teams, in financing matters related to the $170 million investment from Alibaba Group Holding and Temasek Holdings.
GSI Commerce, a public ecommerce services provider, in connection with financing matters related to its $2.4 billion acquisition by eBay.
GSI Commerce in connection with financing matters related to its $277 million acquisition of Fanatics.
Harvard University, 2005, B.A., Cum Laude, High Honors
University of Pennsylvania Law School, 2008, J.D.
Awards and Affiliations
Rising Star – State, IFLR1000 Financial and Corporate (2020)
Rising Star – State, IFLR1000 United States (2018, 2019)
Member, Philadelphia Chapter of the Association for Corporate Growth (ACG)