Permira to Take Mimecast Private in Deal Valued at Approximately $5.8 Billion

December 8, 2021

Willkie represented Blackstone Credit in connection with financing for the transaction.

On December 7, Mimecast Limited, a leading email security and cyber resilience company, announced that it has entered into a definitive agreement to be acquired by funds advised by Permira. Under the terms of the agreement, Permira will acquire all outstanding ordinary shares in an all-cash transaction that values Mimecast at an equity value of approximately $5.8 billion.

Blackstone Credit and funds managed by Ares Management Corporation’s Credit Group are providing committed debt financing to the Permira funds. Upon completion of the transaction, Mimecast will become a privately held company.

Permira is a global private equity firm headquartered in London, with 15 offices across Europe, North America and Asia. The firm’s 17 buyout and growth funds have secured €44 billion of committed capital and backed more than 280 businesses around the world.

The Willkie team was led by partners William Gump and Viktor Okasmaa and included associates Jonathan Zane, Christian Bonser and Reginald St. Louis, and law clerk Adam Lorenzana.