Calfee Client LayerZero Power Systems Announces Strategic Investment by Advent International

Calfee is pleased to announce that its client, LayerZero Power Systems, has completed its sale of a majority equity stake to Advent International, a leading global private equity investor. Based on an enterprise valuation in the ten figures, the transaction marks a significant milestone for LayerZero as it accelerates its growth in the mission-critical power infrastructure sector.  

LayerZero is a leading U.S. manufacturer of static transfer switches (STSs), power distribution units (PDUs), and other advanced power management products designed for data centers and other high-reliability environments. The company's founders, Milind Bhanoo and Jim Galm, will continue to hold minority equity stakes in the company.  

This investment shows Advent's strong belief in the rising demand for cloud computing and generative AI, which are fueling rapid growth in the global data center market. LayerZero's distinctive, highly reliable power products support AI-driven workloads' increasing power density and complexity.  

Calfee served as legal counsel to LayerZero Power Systems for this transaction. The Calfee team was led by Corporate and Finance Partner Neil J. Whitford and included Corporate and Finance Associate Attorneys Lauren Christine Kulik and Tianshu (Allie) Ji; Intellectual Property Partner Sean T. Moorhead; Labor and Employment Partner Todd F. Palmer; Antitrust Partner Maura L. Hughes and Associate Attorneys Nicholas A. Bonaminio and Kelsey L. Baughman; Tax Partner Michael K. Gall; Employee Benefits and Executive Compensation Partners Jason A. Rothman and Erin E. Shick and Associate Attorney Nicolette T.E. Cregan; Environmental Senior Attorney Christopher M. Ward; Real Estate Senior Counsel Elizabeth Zoller Golish; and Privacy and Data Security Partner Daniel J. McMullen.  

Calfee congratulates LayerZero Power Systems and Advent International on this exciting partnership. 

Read the full release here. 

With 45+ dedicated attorneys, the Corporate and Finance practice group at Calfee, Halter & Griswold LLP is one of the largest and most prolific in Ohio, handling a significant number of complex and sophisticated business and financial transactions for clients across the country and globally. 

Calfee has a sophisticated and robust Mergers and Acquisitions, Divestitures, and Sales practice, annually consummating 60-75 M&A transactions, led by an active private equity client base and a large roster of public and significant privately held corporate clients. These financial and strategic buyers, coupled with our deep investment banking representations and relationships, drive a thriving and diverse M&A practice at Calfee.