Blackstone’s $130 Million Acquisition of a Minority Stake in PayCargo

Weil, Gotshal & Manges advised Blackstone on the deal.

Blackstone executed its $130 million acquisition of a minority stake in PayCargo, LLC (a portfolio company of Insight Partners), a logistics payments and data infrastructure platform. The transaction is subject to customary closing conditions.

Blackstone (NYSE: BX) manages $915 billion in alternative assets such as private investments, real estate, public debt, infrastructure and non-investment-grade credit. Holdings include 1.1 billion square feet of warehousing space and a large stake in Carrix, the Seattle-based parent company of SSA Marine. 

PayCargo is a commercial payments solution for the Ocean, Air, Trucking and Rail industries. PayCargo offers electronic tools that create significant efficiencies by automating the payments process with multiple financing options, dispute resolution, systems integration, email alerting, and report capabilities. 

The Weil team advising Blackstone was led by Private Equity partner Christopher Machera (Picture) and includes Private Equity associates Larissa Lucas, Sam de Blecourt and Andrew Distell. The team also includes Tax partner Hillel Jacobson; Executive Compensation & Benefits partner Amanda Rotkel; Executive Compensation & Benefits associate Nate Gross (Not Yet Admitted in New York); Technology & IP Transactions partner Dennis Adams; Technology & IP Transactions/Privacy counsel Olivia Greer; Technology & IP Transactions/Privacy associates Phillip Grudzina, Rami Sherman, David Merck and Tamsin Kantor; Regulatory Transactions counsel Timothy Welch; Antitrust partner Adam Hemlock; Antitrust counsel Michael Naughton; Antitrust associates Liz Klinger and Naz Akyol; Intellectual Property & Media Head Benjamin Marks; Intellectual Property & Media associate Michael Goodyear; Employment Litigation counsel Rebecca Sivitz; and Employment Litigation associate Paulina Cohen.

Involved fees earner: Dennis Adams – Weil, Gotshal & Manges; Naz Akyol – Weil, Gotshal & Manges; Paulina Cohen – Weil, Gotshal & Manges; Sam de Blecourt – Weil, Gotshal & Manges; Andrew Distell – Weil, Gotshal & Manges; Michael Goodyear – Weil, Gotshal & Manges; Olivia Greer – Weil, Gotshal & Manges; Phillip Grudzina – Weil, Gotshal & Manges; Adam Hemlock – Weil, Gotshal & Manges; Hillel Jacobson – Weil, Gotshal & Manges; Tamsin Kantor – Weil, Gotshal & Manges; Elizabeth Klinger – Weil, Gotshal & Manges; Larissa Lucas – Weil, Gotshal & Manges; Christopher Machera – Weil, Gotshal & Manges; Benjamin Marks – Weil, Gotshal & Manges; David Merck – Weil, Gotshal & Manges; Michael Naughton – Weil, Gotshal & Manges; Amanda Rotkel – Weil, Gotshal & Manges; Rami Sherman – Weil, Gotshal & Manges; Rebecca Sivitz – Weil, Gotshal & Manges; Timothy Welch – Weil, Gotshal & Manges;

Law Firms: Weil, Gotshal & Manges;

Clients: Blackstone;