Firm News
Katten Serves as Counsel to R.J. O'Brien in Investment from Spectrum Equity Investors and Technology Crossover Ventures
May 23, 2007
CHICAGO - Katten Muchin Rosenman LLP is pleased to have served as legal counsel to R.J. O'Brien & Associates, Inc. (RJO) in its agreeement with Spectrum Equity Investors and Technology Crossover Ventures (TCV) under which Spectrum and TCV, two leading private equity firms, will make a majority investment in R.J. O'Brien. The O'Brien family will retain a substantial minority ownership in the company. Terms of the transaction were not disclosed.
The transaction will enable R.J. O'Brien to further invest in its growth strategy and enhance its leadership position in the futures industry. R.J. O'Brien management will retain full operating authority of the company, and there will be no changes to the firm's strategy, operations, personnel or commitment to customer service.
"Our client is extremely pleased to be able to partner with these two firms," said Howard S. Lanznar, counsel to R.J. O'Brien & Associates and a partner at Katten. "This investment allows them to continue their strategic growth and invest in innovative technologies."
Upon completion of the transaction, which is expected to close before the end of the second quarter, R.J. O'Brien's Board of Directors will consist of John O'Brien, Gerry Corcoran, Colleen Mitchell and representatives from Spectrum Equity Investors and TCV.
Legal advisors to R.J. O'Brien were Katten Muchin Rosenman LLP and Mayer Brown Rowe & Maw, LLP. Lanznar was assisted by partners Ram Padmanabhan and Ziemowit T. Smulkowski.
About R.J. O'Brien
RJO is the largest independent futures brokerage in the United States. A privately owned futures commission merchant, RJO is also one of the oldest futures brokerage firms, dating to 1914. RJO is a founding member of the Chicago Mercantile Exchange (CME) and is a full clearing member of: the Chicago Board of Trade (CBOT); the New York Mercantile Exchange (NYMEX); Intercontinental Exchange (ICE); Eurex AG; EuronextLIFFE; and US Futures Exchange. RJO services a global network of more than 270 introducing brokers and some of the world's largest financial, industrial and agricultural institutions. RJO offers the latest in order entry technology coupled with 24-hour execution and clearing on every futures exchange worldwide. For further information, please visit www.rjobrien.com.
About Spectrum Equity Investors
Spectrum Equity Investors is a private equity firm with over $4 billion of capital under management. It partners with management teams of growing companies in the information and business services industries and helps them develop industry-leading franchises. Selected portfolio companies in the financial services sector include RiskMetrics Group, a leading global provider of risk management analytics, research, and services; Arrowhead General Insurance Agency, the largest private multi-line general agent and program specialist in the insurance industry; and MortgageBot, a provider of technology and outsourced services enabling banks to market and process mortgage applications online. For more information about Spectrum, visit www.spectrumequity.com.
About Technology Crossover Ventures
Technology Crossover Ventures is a leading private equity and venture capital firm focused on growth technology companies. With $4.7 billion in capital under management, TCV has made growth equity and recapitalization investments in over 150 companies leading to 41 initial public offerings and more than 30 strategic sales or mergers. TCV employs a crossover investment model, which combines venture capital with public market investing and enables TCV to continue to invest in its portfolio companies at the IPO and beyond. Representative investments include Alteon Websystems, Altiris, CNET, eHarmony, Expedia, InPhonic, Liquidnet, Netflix, RealNetworks, Redback Networks, Solect Technology, Webroot and Xylan. TCV has ten partners and is headquartered in Palo Alto, California. For more information about TCV, visit www.tcv.com.