Industry

Private Equity

Our experienced, proactive, market-savvy, and accessible team prioritizes providing creative and pragmatic advice for private equity clients.

Your Go-To Firm for Middle-Market Private Equity

Troutman Pepper Locke is a leader in middle-market private equity and growth equity deals, providing creative and pragmatic advice on deal structures, market terms, and industry trends. We advise private equity clients in the full range of investments and dispositions encountered in the life cycle of an investment fund, building long-term relationships by understanding their business goals and anticipating issues to address them efficiently.

Comprehensive Services

We provide guidance on all aspects of buyouts, portfolio company operations, strategic initiatives, and exit transactions. Our services include:

  • Investments: We represent private equity sponsors in growth equity investments, leveraged buyouts, management buyouts, going-private transactions, co-investments, management equity arrangements, recapitalizations, add-on acquisitions, divestitures, and financings.
  • Exit Strategies: We help funds and their portfolio companies in asset sales, stock sales, recapitalizations, refinancings, mergers and consolidations, IPOs, and other liquidity events.
  • Fund Formation: Our team provides practical advice on crafting fund economic and management terms, structure, compliance with the Investment Company Act of 1940, Investment Advisers Act of 1940, state law, ERISA issues and related contractual arrangements.
  • Portfolio Company Management: We offer guidance on capital structures, management incentive structures, strategy, and emerging legal risks in preparation for the ultimate sale.
  • Emerging Companies and Venture Capital: Our team counsels entrepreneurs, emerging growth companies, and venture capital firms in the full life cycle of growth capital investments.

PE Pathways Podcast

Stay informed about the latest market trends, regulatory changes, and innovative investment strategies that are shaping the future of private equity.

We ensure exceptional service through:

  • Accessibility: Lead attorneys and necessary team members are accessible and responsive at all critical points in the process.
  • Effective communication: We maintain consistent communication concerning deal status, transaction issues, and overall legal spend.
  • Eliminating surprise: We anticipate and plan for potential deal hurdles and causes of delay and communicate proposed action steps well in advance.
  • Right-sized teams: Partners are involved in every material aspect of a transaction, and staff deals based on appropriate seniority levels and skill sets for each deal’s circumstances.

We focus on understanding our clients’ preferred deal frameworks and organizational structures from both economic and legal perspectives. Our approach includes:

  • Providing meaningful input on market terms and alternative approaches.
  • Leveraging our familiarity with a wide variety of transactions and the ability to call on team members in finance, tax, intellectual property, environmental, real estate, employment, and other specialized areas.
  • Utilizing our knowledge of key industry participants and opposing counsel.
  • Representing founders and management teams in their negotiations with private equity firms.

Our industry experience includes but is not limited to:

  • Business services
  • Consumer products
  • Energy (including renewables)
  • Financial services
  • Health care and medical devices
  • Insurance
  • Life sciences
  • Manufacturing
  • Media
  • Retail
  • Technology and software
  • Telecommunications
  • The M&A Atlas Awards – Outstanding M&A Law Firm (2025)
  • The M&A Atlas Awards – Americas Strategic M&A Deal of the Year (2025)
  • The M&A Atlas Awards – Canada M&A Deal of the Year (2025)
  • The M&A Atlas Awards – Private Equity Deal of the Year (2025)
  • The M&A Atlas Awards – Consumer Staples Deal of the Year (Under $100MM) (2024)
  • The M&A Atlas Awards – Professional Services Deal of the Year ($50MM TO $100MM) (2024)
  • The M&A Atlas Awards – Corporate/Strategic Deal of the Year ($75MM TO $100MM) (2024)
  • Legal 500 USA – M&A/Corporate and Commercial: M&A: Middle-Market (sub-$500m) (Nationwide) (2022-2025)
  • Legal 500 USA – M&A/Corporate and Commercial: Private Equity Buyouts: Middle-Market (up to $500m) (Nationwide) (2024-2025)
  • Legal 500 USA – M&A/Corporate and Commercial: Venture Capital and Emerging Companies (Nationwide) (2025)
  • Refinitiv – Global Private Equity Legal Advisory – All Private Equity Stages Legal Advisor to Company (Based on Number of Rounds) – Ranked #21 (Q2 2023)
  • Refinitiv – Global Private Equity Legal Advisory – LBO & Related Rounds Legal Advisor to Company (Based on Number of Rounds) – Ranked #18 (Q2 2023)
  • Refinitiv – Global Private Equity Legal Advisory – Venture Capital Rounds Legal Advisor to Company (Based on Number of Rounds) – Ranked #20
  • Pitchbook – Global League Tables: PE Deals Most active in U.S.: Companies – Ranked #10 (2025)
  • Pitchbook – Global League Tables: PE Deals Most active Globally: Companies – Ranked #14 (2025)
  • Pitchbook – Global League Tables: PE Deals Most active in Mid-Atlantic – Ranked #19 (2025)
  • Pitchbook – Global League Tables: PE Deals Most active in South – Ranked #12 (2025)
  • Pitchbook – Global League Tables: PE Deals Most active in Mountain and Midwest – Ranked #16 (2025)
  • With Intelligence (formerly The Deal) Q1 2025 Private Equity Law Firms – Ranked #44

Client Success Stories

Troutman Pepper Locke Represents Newly Weds Foods in Acquisition of Develey Mustard and Condiments Corporation Manufacturing Facility

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