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ProfessionalsAnnie Herdman

Annie Herdman
Partner

Tel: +44-20-7601-8602
Fax: +44-20-7900-3975
aherdman@paulweiss.com

+44-20-7601-8602
London

20 Air Street
London, United Kingdom W1B 5AN
Fax: +44-20-7900-3975

Brussels

Rue Des Colonies 11
1000 Bruxelles, Belgium

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London Head of Antitrust and Foreign Direct Investment, Annie Herdman advises clients on EU, UK and multijurisdictional merger control, foreign direct investment and EU foreign subsidies strategy and filings, as well as on EU and UK cartel investigations and antitrust compliance. Annie has acted for leading private equity firms and companies in matters before the European Commission, UK Competition and Markets Authority and global antitrust and foreign direct investment agencies. She currently serves as co-chair of the International Chamber of Commerce’s Merger Control Task Force.

Annie has been described by her clients as a “phenomenal attorney and one of the best lawyers we have worked with - period.” She is regarded as “a critical business partner” and “an integral resource” delivering “outstanding work product.”

Annie has been recognized numerous times for her achievements in antitrust and foreign direct investment, including by The Legal 500 as a “Next Generation Partner” and “Rising Star” and by Who’s Who Legal as a “Thought Leader” (2023) and “Global Leader” (2022 and 2021)—one of only four UK practitioners listed.

She was included in Global Competition Review’s “40 under 40” list of leading antitrust practitioners in the world (2024) and “40 under 40” list of leading Foreign Investment Control lawyers (2023); in Law.com International list of the best up-and-coming female lawyers in the U.K. (2023); and in MergerLinks list of the Top 30 Antitrust Lawyers in EMEA (2023).

EXPERIENCE

Annie’s select representations include:

  • ABC Technologies in the antitrust aspects of its takeover bid of TI Fluid Systems PLC valued at just over £1 billion ($1.27 billion).
  • Accuride on its acquisition of mefro wheels; conditional EU Phase I clearance.
  • Acerinox in its $970 million acquisition of Haynes International.
  • Advent International in connection with its:
    • $4.25 billion investment in Baxter International Inc.’s BioPharma Solutions (BPS) business; and
    • the sale of a majority stake in Brazil-based premium chocolate company Grupo CRM to Nestle.
  • Advent, Cinven and the RAG-Stiftung on the $18.6 billion acquisition of the elevator division of thyssenkrupp AG, the largest European buyout transaction to date.
  • ALSO Holding AG, an IT solutions company, in its acquisition of Westcoast.
  • American Securities LLC on its acquisition of Prince International Corporation, a manufacturer of mineral-based specialty additives.
  • Apex in its €1.51 billion acquisition of Sanne Group plc.
  • Apollo Global Management in:
    • its $6.3 billion acquisition of International Game Technology's gaming and digital business IGT Gaming and Everi Holdings;
    • the financing, antitrust and regulatory aspects of its acquisition of Evri from Advent International;
    • an investment of $11 billion to acquire from Intel Corporation a 49% equity interest in a joint venture entity related to Intel's Fab 34;
    • its ¥311 billion investment (approximately $2.05 billion), subject to certain adjustments at closing, to acquire a majority stake in Panasonic Automotive Systems Co., Ltd.; and
    • its acquisition of End Clothing, a UK-based luxury streetwear retailer, from The Carlyle Group.
  • Bain Capital in connection with its:
    • $1.53 billion acquisition of Outsourcing Inc.;
    • $1.4 billion acquisition of Mash Holdings;
    • $2.1 billion investment in Toss Payments;
    • $17 billion acquisition of athenahealth;
    • €1.7 billion acquisition of ITP Aero, an aero engine and gas turbine manufacturer from Rolls-Royce;
    • €2.1 billion proposed public takeover of Ahlstrom-MunksjöOyj;
    • investment in Berlin Brands Group, a global e-commerce company;
    • €5.3 billion joint public takeover offer for the German pharmaceutical company Stada Arzneimittel AG; to date the largest transaction of its kind in Germany;
    • $3.2 billion acquisition of Diversey (the food hygiene and cleaning division of Sealed Air Corporation);
    • acquisition of MSX International; and
    • $2.7 billion joint acquisition of Vertafore.
  • BDT & Co in connection with its merger with MSD Partners LP.
  • Berkshire Partners in its:
    • acquisition of a majority stake in AHEAD, a provider of enterprise cloud services, from Centerbridge Partners;
    • investment in Point Broadband;
    • Accela investment with Francisco Partners; and
    • investment in PDQ alongside TA Associates.
  • Blackstone on its:
    • $1 billion partnership with Hipgnosis Song Management; and
    • acquisition of a majority stake in VFS Global.
  • The Boeing Company on its $4.25 billion acquisition of KLX.
  • Bridgepoint in connection with:
    • its sale and reinvestment in PEI Group;
    • the acquisition of a 75% stake in Fera Science Limited by Bridgepoint Development Capital IV; and
    • its acquisition of SK AeroSafety Group.
  • Brighton Park Capital in:
    • its $112 million investment in PortSwigger; and
    • its $80 million growth investment in Storyblok, as part of a Series C funding round.
  • Chevron Corporation in its $60 billion acquisition of Hess Corporation.
  • Cinven in its:
    • $720 million acquisition of TaxAct;
    • acquisition of MBCC Admixtures from Sika; and
    • acquisition of Archer Technologies.
  • CIRCOR International in a take-private sale to global investment firm KKR in a cash transaction valued at approximately $1.6 billion including debt.
  • Creat Group on its acquisition of Biotest AG; unconditional UK clearance.
  • CVC Capital Partners and its portfolio company System C on the acquisitions of Clevermed and Oxford Computer Consultants.
  • Danaher Corporation in:
    • its $13.8 billion acquisition of Pall Corporation; and
    • its $2.2 billion acquisition of Nobel Biocare Holding AG.
  • Enstar Group in its $5.1 billion sale to Sixth Street and other institutional investors. 
  • EP Corporate Group in connection with the financing and structing aspects of its possible cash offer for International Distribution Services (IDS).
  • Everfox, a TPG portfolio company, in its acquisition of Garrison Technology Ltd.
  • Francisco Partners in connection with its £175 million acquisition of Blancco Technology.
  • General Atlantic in its more than $200 million Series C investment in Flo Health.
  • Genstar Capital and Advarra in connection with the sale of a majority stake in Advarra to Blackstone and the Canada Pension Plan Investment Board (CPPIB).
  • GI Partners in its acquisition of Atlas Technical Consultants for $1.05 Billion.
  • G-lll Apparel Group in its strategic partnership with, and investment in, All We Wear Group (AWWG).
  • HIG Capital in connection with its $950 million acquisition of Avient Corp’s Distribution Unit.
  • HUTCHMED in connection with a worldwide license agreement with Takeda Pharmaceutical for up to$1.13 billion.
  • IBM in its strategic partnership with Palo Alto Networks.
  • Infineon Technologies in:
    • its $10 billion acquisition of Cypress Semiconductor Corp; and
    • its $3 billion acquisition of International Rectifier.
  • Intel Corporation in its acquisition of Lantiq.
  • KKR on its joint $15 billion acquisition of CyrusOne Inc., a premier global data centre REIT.
  • Kohlberg & Company in connection with:
    • strategic investment from BlackRock Alternatives Long Term Private Capital;
    • its acquisition of Riveron; and
    • sale of a minority stake in ENTRUST solutions.
  • KPS Capital Partners in connection with:
    • its portfolio company Enviosys in the €3.615 billion sale of Eviosys to Sonoco Products Company;
    • its $350 million acquisition of Tate & Lyle PLC’s remaining ownership interest of 49.7% in Primient; and
    • its €3.5 billion acquisition of Innomotics from Siemens.
  • Kymera International, a portfolio company of Palladium Equity Partners, in its acquisition of Fiven from OpenGate Capital. 
  • Legends, a sports and entertainment premium experiences company, in its acquisition of ASM Global to create a global live events company.
  • Liberty Global in connection with its transformative €2.3 billion strategic collaboration with Infosys.
  • National Amusements, Inc. in a $125 million preferred equity investment in NAI by BDT Capital Partners.
  • PS, a TPG portfolio company, in its sale to Groupe ADP.
  • Silver Lake in connection with its $1.46 billion sale of ServiceMax to PTC.
  • TA Associates in its acquisition of Ivanti.
  • TDR Capital in connection with its:
    • portfolio company, Stonegate Pub Company, on its £1.27 billion recommended cash offer for Ei Group (requiring UK commitments); and
    • acquisition of Acqua & Sapone from H.I.G. Capital and the founding Barbarossa family.
  • Tenneco Inc. on its $5.25 billion acquisition of Federal-Mogul LLC.
  • Tekni-Plex Healthcare, a Genstar Capital portfolio company, in a definitive agreement to acquire medical device manufacturer Seisa Medical.
  • Thoma Bravo on its:
    • £3.1 billion recommended cash offer for Sophos, a global leader in next-generation cybersecurity solutions;
    • $3 billion acquisition of Qlik Technologies Inc.; and
    • $4.5 billion joint acquisition of Solarwinds.
  • Funds affiliated with TPG in its acquisition of a 70% stake in DirecTV LLC from AT&T LLC, bringing its ownership stake in DirecTV to 100%.
  • TPG in connection with its:
    • investment in G&A Partners;
    • $500 million acquisition of a majority stake in Elite;
    • $2 billion sale of Immucor to Werfen;
    • Kaseya’s $6.2 billion acquisition of Datto;
    • $4 billion joint acquisition of Covetrus;
    • $1.4 billion acquisition of Nextech;
    • $2.45 billion acquisition of Forcepoint’s Governments and Critical Infrastructure Business;
    • $1.3 billion acquisition of A-Gas;
    • $6.5 billion acquisition of New Relic;
    • sale of Creative Artists Agency, the world’s leading entertainment and sports agency;
    • €3.9 billion acquisition of Aeron;
    • investment in Foodsmart;
    • investment in Altimetrik;
    • $90 million strategic investment in Hayden AI Technologies, Inc.;
    • sale of its majority stake in CLEAResult to funds managed by Kohlberg & Company;
    • strategic partnership with KKR as new majority shareholder in A-Gas;
    • acquisition of Miratech;
    • €695 acquisition of a Dutch Real Estate portfolio from European Residential REIT (ERES);
    • €6.7 billion investment, alongside GIC, in Techem Group;
    • majority investment in Surescripts LLC, a health information technology company;
    • minority investment in Creative Planning, a Kansas-based independent wealth management firm;
    • $1.1 billion sale of Property Guru to EQT, a New York-based global investment organization;
    • $336 million sale of Nox Corporation, a South Korea-based global flooring innovation leader; 
    • minority investment in Homrich Berg, an Atlanta-based wealth manager;
    • $1.2 billion acquisition of Ramsay Sime Darby Health Care;
    • $2 billion strategic investment in Veeam;
    • VC investment in ADCendo;
    • sale of Artel LLC to Cydecor;
    • €180 Million strategic investment in Eurazeo; and
    • $375 million strategic investment in BETA Technologies.
  • Triton Partners on the agreement to sell Polygon Holding AB to funds managed by AEA Investors LP.
  • Tronox in connection with the European Commission’s Phase II investigation of its $2.2 billion acquisition of Cristal’s titanium dioxide business.
  • Two Sigma in connection with its investment in Milestone Technologies.
  • Vista on its $1.65 billion acquisition of Cvent, Inc.
  • Vitruvian Partners in its sale of its majority stake in Accountor Software to KKR.
  • Warburg Pincus on its:
    • minority investment in Visma, a leading provider of business-critical software in a transaction valuing the business an enterprise value of $12.2 billion; and
    • co-investment in the combined group of Tilney Smith & Williamson.
  • ZT Systems in its cash-and-stock acquisition by Advanced Micro Devices, Inc. (AMD), valued at $4.9 billion.

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