Vacasa, the leading vacation rental management platform in North America, has announced that it has entered into an agreement to become a publicly traded company through a business combination with TPG Pace Solutions, a special purpose acquisition company (SPAC). Upon closing of the transaction, the combined company is expected to be publicly traded under the ticker symbol VCSA. The transaction implies a pro forma equity value for Vacasa of approximately US$4.5 billion and capitalizes the business with approximately US$485 million in gross cash proceeds to fund the company’s future growth plans.
Latham & Watkins LLP represents Vacasa in the transaction with an M&A team led by New York partner Justin Hamill, Bay Area partner Eric Schwartzman, Washington, D.C. partner Nicholas Luongo, and New York counsel Michael Anastasio, with associates Shannon Cheng, Amanda Dillon, and Caitlin Nguyen. Advice was also provided on capital markets matters by New York partners Marc Jaffe and Benjamin Cohen, with associates Lindsey Mills, Lia-Michelle Keane, and Hamna Ahmad; on tax matters by Bay Area partner Katharine Moir, with associates Alan Kimball and Lukas Kutilek; on benefits and compensation matters by Bay Area partner Erin Murphy, with associate James Robinson; on finance matters by New York partner Joshua Tinkelman and New York counsel Seniz Yakut; on intellectual property matters by Bay Area partner Anthony Klein, with associate Amy Dippolito; on data privacy matters by Bay Area counsel Robert Blamires, with associate Jimmy Smith; and on antitrust matters by Bay Area partner Joshua Holian and Washington, D.C. counsel Patrick English.