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D 214.397.0015
F 214.594.5512
  • Education
    • J.D., University of Texas School of Law-Austin, 1978
    • B.A., Texas Tech University, 1975

Bill Swart represents all constituencies in private equity transactions with a pragmatic approach to the diverse, complex issues arising between an acquisition and the liquidity event that occurs years thereafter.

His experience includes:

  • Structuring and documenting initial portfolio company investments, acquisition financing, equity incentive plans for management, and add-on acquisitions
  • Representing private equity firms, fundless sponsors and large family offices in transactions throughout the U.S. in industries, including energy, health care, manufacturing and distribution, and consumer products.
  • Representing boards of directors of companies that are engaged in merger negotiations, management buyout discussions, or debt transactions, as well as circumstances in which boards are facing decisions arising out of insolvency.

In addition, when difficult internal issues and conflicts need to be addressed within private equity firms, Bill works with the firms or their partners to achieve negotiated goals, such as the withdrawal of partners or the restructuring of ownership or compensation of the partners or other stakeholders within the private equity firms. With an understanding of the interplay among the private equity firms’ governing documents, their fund agreements and related management services agreements, Bill works with clients in these engagements to achieve their objectives without disrupting their investment endeavors.

Bill regularly counsels boards of directors over concerns relating to fiduciary duties, interested party transactions, and corporate governance issues. Representing boards of directors in difficult circumstances requires the ability to provide real-time strategic counsel and to be able to aid the boards in realistically assessing risk. Bill provides the perspective necessary to do so, which is a perspective that comes from more than 30 years’ experience representing clients in difficult circumstances.

  • Represented regional health system in consolidation with national faith-based health system in transaction valued at $900 million.
  • Represented a private equity fund in the sale of the general partner of a publicly traded, master limited partnership operating an interstate gas pipeline in a $600 million transaction.
  • Represented the departing partner of private equity firm in resolving issues relating to vested and unvested carried interests in investment funds (with funds under management in excess of $800 million) managed by the firm.
  • Represented physician owned hospital in reorganization and recapitalization endeavor.
  • Advised private equity firm in acquisition of home health equipment leasing company operating in multiple states.
  • Represented private equity owned urgent care provider in complex reorganization for long-term management and sale-lease-back of facilities.
  • Represented partners who owned the majority interest of a private equity firm in the expulsion of a founding partner for “cause.”
  • Represented the board of directors of an SEC reporting company in a recapitalization involving $350 million of debt.
  • Represented a U.S. hedge fund in the early stage of investment in Latin American luxury hotel project.
  • Advised a management team of $1 billion revenue company in a sale to a private equity firm, including negotiation of rights of the management team as co-investors and as holders of carried interests.
  • Represented a private equity fund seller of midstream, gas-gathering, and transmission company in $355 million transaction.
  • Represented the board of directors of a media company in evaluating competing acquisition offers during a period in which the company was in default under its senior credit facility.
  • Represented a restaurant chain in the out-of-court restructuring of senior and subordinated debt, in a series of transactions that originated as a leveraged ESOP buyout.
  • Represented management in negotiating its co-investment and carried interest rights in a new platform company following a successful exit from a similar portfolio company with the same private equity firm.
  • Represented a home décor company owned by a private equity fund in the acquisition of manufacturing facilities in Mexico.
  • Represented the board of directors of an energy exploration and production company in evaluating alternatives following insolvency.
Publications & Presentations
Polsinelli; British American Business Council and L.A. Transatlantic Law Council
Co-presenters from Polsinelli: Tracey Ginn, Lisa Greer Quateman and Bill Swart
September 11, 2013
Publications & Presentations
Targeting to Fill Gaps - Finding the Right Strategic Acquisition for Growth
Published in Private Capital Review
January 2011
Publications & Presentations
Ethical Considerations in Multi-Jurisdictional Transactions
University of Texas Mortgage Lending Institute
2004
Publications & Presentations
Survey of Litigation Under the 1970 Anti-Tying Amendment to the Bank Holding Company Act
Published in Texas Bar Journal
May 1989
Publications & Presentations
Federal Tax Liens Need Not be Cause for Concern
Published in Texas Banking
April 1989
Publications & Presentations
Foreign Extraction Operations - A Comparison of Domestic and Foreign Incorporation
Published in 14 Texas International Law Journal 139
1978