Latham & Watkins Advises TA Associates on Merger of Chaos and Enscape

Latham & Watkins is representing TA Associates, a global growth private equity firm, on its agreement with LEA Partners, a technology focused private equity firm, to merge Enscape, a leading developer of real-time rendering and design workflow technology for the Architecture, Engineering and Construction (AEC) industries, and Chaos, a world leader in photorealistic rendering technology. Latham is advising TA on all matters related to the acquisition of Enscape, equity arrangements with LEA, and all financing arrangements. The transaction, subject to customary regulatory approvals, will establish a global leader in the 3D visualization and design workflow software sectors, with a focus on the AEC, Visual Effects (VFX) and Product Design verticals.

The newly-combined company, which will retain the Chaos name, aims to develop and strengthen its product portfolio to create a comprehensive end-to-end visualization ecosystem, designed to meet the evolving needs of its customers. TA will join LEA, Enscape’s current majority shareholder, in the newly-combined company alongside the management of Chaos and Enscape, who will retain a significant minority stake.

Latham’s team is being led by London corporate partner Paul Dolman, with associates Laura Kichenside and Ben Russell; and by Munich corporate partner Burc Hesse, with Frankfurt partner Susanne Decker, and associate Corinna Freudenmacher. Advice was provided on finance matters by London partner Charles Armstrong and counsel Tristram Gargent; on intellectual property matters by Frankfurt partner Susan Kempe-Müller; and on antitrust matters by Hamburg counsel Jana Dammann and London associate Mark Wagh.