04 Dec 2025

BakerHostetler Advises ECN Capital on $1.4 Billion Take-Private Led by Warburg Pincus

"BakerHostetler advised Toronto Stock Exchange-listed ECN Capital in a $1.4 billion all-cash take-private led by an investor group led by Warburg Pincus. CIBC Capital Markets served as ECN Capital’s exclusive financial advisor."

BakerHostetler advised Toronto Stock Exchange-listed ECN Capital in its take-private acquisition by an investor group led by global growth investor Warburg Pincus; CIBC Capital Markets served as exclusive financial advisor to ECN Capital. The transaction was an all-cash take-private valued at approximately $1.4 billion. The deal provides certainty of value for ECN Capital shareholders and yields an attractive total shareholder return of over 200% since ECN Capital’s separation from New York-based Element Financial Group in October 2016. The transaction received extensive media coverage. BakerHostetler represented client ECN Capital with a team composed by: Partner Steven H. Goldberg (lead; M&A), Partners Margaret Isa Butler (Partner, M&A), Brian S. Mulcahy (Partner, M&A) and Douglas A. Vonderhaar (Partner, M&A), and Associates David J. Marella, Jennifer Dare and Michael R. Greubel. Additional support was provided by Partners Patrick Campbell, Christopher Carolan, Brendan Clark, Danyll Foix, Matthew Gases, Kyle Gregory, Ashley Guffey, Brian Harris, Thomas Hogan, John Lehrer, Melissa Mannino, Brandon Marcus, Tony Roehl, George Skupski, Elizabeth Smith and Stefan Smith, and Associates Macy Hawkins, Connor Jennings, Reid Leigh, Jeffrey Liskov, Richard Reis and William McClanahan.
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