A cross-office team of McGuireWoods lawyers represented Acosta, Inc. (Acosta) in its acquisition of substantially all of the assets of three Delaware entities engaged in the experiential marketing business under the name Escalate. The acquisition involved a maximum purchase price of $16.7 million, comprised of a cash payment at closing and post-closing deferred and contingent consideration.
Based in Jacksonville, Florida, Acosta is a leading sales, marketing and retail merchandising company serving more than 1,000 consumer packaged goods companies throughout North America with more than $3 billion in annual revenue. This transaction, which closed on Sept. 1, 2015, is the first acquisition that McGuireWoods closed for Acosta, which is a portfolio company of The Carlyle Group.
The team representing Acosta was led by partner Chris Scheurer and associate Rob Crawford. Partner Joel Spitz led a team advising Acosta regarding the acquired companies’ use of independent contractors rather than employees and gating legal issues related thereto.
Other important contributions were made by partners Gerald Thomas and Robin Vance, associates Curtis Griner, Felicia Gardner, Alex Scharyj, counsel Christian Tennant and paralegals Kimberly Saltrick and Cheryl Smith.