Adam Rachlis advises private equity sponsors and their portfolio companies, public and private companies, and investment banks on M&A and other strategic transactions, including leveraged buy-outs, control and minority investments, joint ventures, and sales of distressed assets.

Mr. Rachlis advances the strategic needs of clients by drawing on both his legal experience and years as an investment banker at Goldman Sachs, where he was Vice President in the Consumer & Retail coverage group. His experience advising strategic and sponsor clients in a variety of buy-side and sell-side transactions, including conducting valuation analysis and financial due diligence, gives him a deep understanding of his clients’ business objectives. While at Goldman, Mr. Rachlis advised clients on many high-profile transactions, including:

  • Tiffany & Co. in its US$15.8 billion sale to LVMH
  • AEA Investors in its sale of ProMach to Leonard Green
  • TDR Capital in its sale of International Car Wash Group to Roark Capital
  • Brookwood in its acquisition of Allsup’s Convenience Stores
  • Edgewell in its attempted acquisition of Harry’s shaving company (blocked by the FTC)
  • Bombardier, Dollar General, Foundation Building Materials, Lennar, USIC, Vertiv, Yesway, YETI, and Xponential Fitness in various financings

Mr. Rachlis’ experience includes representing:

Private Equity

  • Frontline Road Safety, a portfolio company of The Sterling Group, in its acquisition of The Aero-Mark Company, a leading pavement marking contractor
  • Brentwood Associates in its acquisition of a minority stake in Pacifica Beauty, a leader in vegan beauty products
  • Nestlé Health Science in its acquisition of a majority stake in Orgain, a leader in plant-based nutrition products, from Butterfly Equity and co-founder Dr. Andrew Abraham
  • Marlin Equity in its sale of a majority stake in Bazaarvoice, a leading advertising technology provider, to Thomas H. Lee Partners
  • Lion Street, a wealth management and financial planning network, in its sale to Integrity Marketing Group

Public and Private Companies

  • Manchester United in the acquisition of a 25% stake by INEOS chairman Sir Jim Ratcliffe
  • Molina Healthcare in its acquisition of CIGNA’s Texas Medicaid business
  • The Oncology Institute, a leading network of cancer care clinics, in its business combination with DFP Healthcare Acquisitions, a blank check company
  • PLBY Group in its acquisition of Honey Birdette, an Australian-based luxury lingerie and lifestyle brand
  • Nanosys in its sale of a microLED fab facility and engineering team to Avicena 
  • AT&T in its US$49 billion acquisition of DirecTV*
  • IntercontinentalExchange (ICE) in its US$8.2 billion acquisition of NYSE Euronext*
  • United Rentals in its US$4.2 billion acquisition of RSC Holdings*
  • Wells Fargo in its acquisition of BNP Paribas’ North American energy lending business for US$9.5 billion*
  • Ipsen in its strategic investment in Inspiration Biopharmaceuticals and concurrent sale of intellectual property to Baxter International and Cangene Corporation*
  • Frontier Airlines in its chapter 11 reorganization and 363 sale to Republic Airways*

Investment Banks

Mr. Rachlis regularly advises investment banks in their capacity as financial advisor to the buyer or seller in M&A transactions and is well-versed in his clients’ fairness opinion and proxy disclosure practice. Clients include Goldman Sachs, Morgan Stanley, JP Morgan, Centerview, Tidal Partners, Evercore, Moelis, Bank of America, Wells Fargo, William Blair, Lincoln, Duff & Phelps, Stifel, Piper Sandler, Canaccord and JMP Securities.

Representative matters include:

  • Cisco’s US$28 billion acquisition of Splunk (advised Tidal Partners as financial advisor)
  • Duke Realty in its US$26 billion merger with Prologis (advised Morgan Stanley as financial advisor)
  • PTC’s US$1.5 billion acquisition of ServiceMax (advised Centerview as financial advisor)
  • Sonder’s US$2.2 billion combination with Gores Metropoulos II (advised Goldman Sachs as financial advisor)
  • Grindr in its business combination with Tiga Acquisition Corp. (advised Duff & Phelps as financial advisor)
  • Syros Pharmaceuticals’ merger with TYME Technologies (advised Piper Sandler as financial advisor)
  • NewAmsterdam Pharma’s merger with Frazier Healthcare and Bain Capital (advised Lincoln as financial advisor)
  • Tango Therapeutics’ combination with BCTG Acquisition (advised Canaccord as financial advisor)
  • Allscripts’ Sale of its Hospitals & Large Physician Business Practices Segment to Constellation Software (advised William Blair as financial advisor)
  • Leaf Group’s US$323 million sale to Graham Holdings (advised Canaccord as financial advisor)
  • FinTech Acquisition’s business combination with eToro Group (advised JMP Securities as financial advisor)
  • Bank of Marin Bancorp’s acquisition of American River Bankshares (advised Stifel as financial advisor)
  • KPS Capital Partners’ US$400 million acquisition of Electrical Components International* (advised Goldman Sachs as financial advisor)
  • KKR & Co.’s US$2.6 billion acquisition of KKR Financial Holdings in a stock-for-stock merger* (advised Goldman Sachs as financial advisor)
  • Accenture’s US$320 million acquisition of Acquity Group* (advised Goldman Sachs as financial advisor)
  • Hill-Rom’s US$2.1 billion acquisition of Welch Allyn* (advised Goldman Sachs as financial advisor)
  • Calpine Corporation’s US$1.6 billion sale of power plants to LS Power* (advised Goldman Sachs as financial advisor)
  • Consolidated Communications’ US$350 million acquisition of Enventis Corporation* (advised Wells Fargo as financial advisor)
  • E.W. Scripps’ merger with Journal Communications and simultaneous spin-off of newspaper businesses* (advised Wells Fargo as financial advisor)
  • HealthSouth Corporation’s US$730 million acquisition of Reliant Hospital Partners* (advised Wells Fargo as financial advisor)
  • NRG Yield’s US$870 million acquisition of Alta Wind Energy* (advised Bank of America as financial advisor)
  • NuPathe’s US$150 million sale to Teva Pharmaceuticals* (advised MTS Health Partners as financial advisor)

Issuers and Investment Banks

Mr. Rachlis has represented issuers and investment banks in a variety of equity and debt offerings, including:

  • IPOs for Michael Kors, Envestnet, DigitalGlobe, and Tower Automotive*
  • Equity offerings for Warner Chilcott and Cloud Peak*
  • Tender offers for Marsh & McLennan and Honeywell*
  • High-yield debt offerings for Tower Automotive, DigitalGlobe, and Harbinger Group*
  • Investment-grade debt offerings for Honeywell, CIGNA, CSX Corp, Allergan, Campbell Soup, Western Union, and Devon Energy*

*Matter handled prior to joining Latham

Bar Qualification

  • California
  • New York


  • JD, Stanford Law School
    Articles Editor, Stanford Law Review
  • BA in Economics, Brown University
    magna cum laude