DLA Piper advises Five V Capital on Totara divestment to Tenzing

This multi-jurisdictional deal required expertise across areas like tech, open source, and tax

DLA Piper advises Five V Capital on Totara divestment to Tenzing

DLA Piper New Zealand has acted for Five V Capital on its divestment of Totara Learning Solutions to European private equity investor Tenzing.

M&A partner Reuben Woods described the deal as “a complex transaction requiring genuine tech, open-source, private equity, and tax expertise across multiple jurisdictions, combined with the need to problem-solve and to find commercial solutions at speed.”

According to Five V, Tenzing’s investment will “further support [Totara] in its global expansion efforts, deepen its focus on target sectors, and contribute to the ongoing enhancement of Totara’s product and service offerings.”

Woods led DLA Piper’s cross-border team, which operated across the US and the UK as well. He received support from associate Tayla Court and solicitor Sneha Kant. The New Zealand team also included partners Nick Valentine (intellectual property and technology), Pavanie Edirisuriya (corporate), and David Johnston (tax). Partners Mark Radcliffe (US), Keith Ranta (US), and Andrew Phillips (UK) lent their expertise, as did of counsel Chris Stevenson (US).

In June 2020, Woods advised Five V on its acquisition of a majority interest in Totara and formation of a partnership with founder Richard Wyles.  

Established in New Zealand, Totara developed the Totara Talent Experience Platform and is a provider of learning, engagement and performance management software.

 

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