Cornell Capital and Trilantic North America’s Acquisition of Fastaff and U.S. Nursing

Davis Polk & Wardwell LLP advised Cornell Capital, Kirkland & Ellis LLP advised Trilantic North America, and Ropes & Gray LLP advised Thomas H. Lee Partners, L.P on the deal.

Thomas H. Lee Partners, L.P. executed the sale of Fastaff Travel Nursing and U.S. Nursing Corporation to Cornell Capital LLC and Trilantic North America. The transaction was announced on February 24. 

Thomas H. Lee Partners, L.P. (“THL”), current owners of Fastaff and U.S. Nursing, will remain investors in the combined company.

Founded in 1989, Fastaff and U.S. Nursing have provided hospitals with staffing solutions for more than three decades. Fastaff pioneered the practice of Rapid Response? travel nurse staffing and has since grown to become the leading provider of temporary nurses nationwide. 

Cornell Capital LLC is a U.S.-based private investment firm with over $4.0 billion of AUM and offices in New York and Hong Kong. 

Trilantic Capital Management L.P. (“Trilantic North America”) is a private equity firm focused on control and significant minority investments in North America.

Lincoln International acted as financial advisor to Fastaff and U.S. Nursing.

The Ropes & Gray team that represented Thomas H. Lee Partners was led by private equity partner Bill Mone (Boston; Picture), and included private equity associates Martin Pepeljugoski,Andrea Daley (both of Boston) and Scott Rolnik (New York), litigation & enforcement partner Jonathan Klarfeld (Washington D.C.), litigation & enforcement associate Scott Hazelgrove II(Washington D.C.), litigation & enforcement counsel Deidre Johnson (Boston), health care partners Christina Bergeron (Boston) and Jennifer Romig (Chicago), employment, executive compensation & benefits partners Loretta Richard, Renata Ferrari and Megan Bisk (all of Boston), mergers & acquisitions partner Michael Beauvais (Boston), tax partner Amanda Holt(Boston), and tax associate Zhen Zhang (Boston).

Involved fees earner: Michael Beauvais – Ropes & Gray; Christina Bergeron – Ropes & Gray; Megan Bisk – Ropes & Gray; Andrea Daley – Ropes & Gray; Renata Ferrari – Ropes & Gray; Scott Hazelgrove – Ropes & Gray; Amanda Holt – Ropes & Gray; Deidre Johnson – Ropes & Gray; Jonathan Klarfeld – Ropes & Gray; Bill Mone – Ropes & Gray; Martin Pepeljugoski – Ropes & Gray; Loretta Richard – Ropes & Gray; Scott Rolnick – Ropes & Gray; Jennifer Romig – Ropes & Gray; Zhen Zhang – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Thomas H. Lee Partners, L.P.;

Federica Tiefenthaler

Author: Federica Tiefenthaler