The following is an excerpt from Practice Perspectives: Vault's Guide to Legal Practice Areas.
Katherine Baudistel focuses her practice on representing private equity sponsors and their portfolio companies as well as technology startups in connection with M&A and private equity investment transactions. Her transaction experience includes M&A, leveraged buyouts, carve-out transactions, asset acquisitions and dispositions, recapitalizations, joint ventures, minority and growth equity investments, and other strategic transactions, as well as general corporate matters. Her clients span across a broad range of industry sectors, including technology, software, consumer products, financial services and fintech, and healthcare. Katherine serves as the Hiring Partner for Southern California, is a member of the firm’s Pro Bono Committee, is a local counsel leader of Women@Goodwin, and is a Co-Chair of the Women’s Health & Wellness Initiative.
Describe your practice area and what it entails.
I focus my practice on representing investors and private companies in connection with a variety of corporate transactions such as M&A, leveraged buyouts, carve-out transactions, asset acquisitions and dispositions, recapitalizations, joint ventures, and minority and growth equity investments. I also advise companies on day-to-day corporate matters.
What types of clients do you represent?
I represent private equity investors and their portfolio companies as well as other private companies. My clients span across a broad range of industry sectors including technology, software, retail and consumer products, financial services, fintech, and healthcare.
What types of cases/deals do you work on?
Most of my practice involves the buying or selling of private companies in the middle market. For private equity clients, I represent investors in connection with platform acquisitions, add-ons, and the subsequent sales of their portfolio companies. For startups and other company clients, I advise them in connection with buy-side and sell-side M&A in which private companies are sold to strategic or financial buyers. I also advise private equity investors in connection with growth equity investments in which the investor acquires a noncontrolling equity interest in the target.
How did you choose this practice area?
I have always found M&A and growth equity to be really exciting and intellectually challenging. Deals are often fast-paced and involve interesting and complex issues, and in most cases, they represent a fundamental transaction to all parties that are involved. I also love being a trusted advisor to my clients; they see me as someone who provides valuable business advice beyond just knowledge of the law.
What is a “typical” day like and/or what are some common tasks you perform?
It is pretty “typical” for each day to be different than the day before. On any given day, I might spend time reviewing a purchase agreement or other transaction document, discuss key business and legal issues with a client, negotiate deal terms with the other side, and/or advise on a day-to-day corporate matter. The variety keeps it fresh and engaging!
What training, classes, experience, or skills development would you recommend to someone who wishes to enter your practice area?
I recommend taking any business law-focused classes such as corporations, corporate taxation, M&A, securities regulations, accounting for lawyers, venture capital, etc. In addition, if your law school offers any practical or clinical courses, they are great ways to get some real hands-on experience with contract drafting, communicating with clients, and legal problem-solving. That being said, we expect that you will learn a lot on the job through hands-on experience and participation in our formal training programs, so prior relevant coursework is helpful but not necessary.
What do you like best about your practice area?
I enjoy the fact that transactional work is very collaborative. Although negotiations can sometimes be hard-fought, ultimately, all parties are working toward a common goal: They want to be able to reach a business agreement and close the deal.
What is unique about your practice area at your firm?
At Goodwin, we highly encourage lawyers to cultivate a practice that is unique to them and matches their interests and career goals. For example, some attorneys might focus on a particular industry sector (e.g., healthcare, technology, etc.) or a type of transaction (e.g., debt finance, M&A, funds, growth equity, etc.). In my case, I’ve expanded my practice beyond private equity to include representation of founders and startups in connection with potential sale processes.
What are some typical tasks that a junior lawyer would perform in this practice area?
In typical M&A transactions, junior associates are often tasked with completing corporate legal due diligence, drafting some of the transaction documents, and coordinating communications and tasks with all relevant constituents (e.g., the client, specialists, third-party advisors, opposing counsel, etc.). Importantly, junior associates are often responsible for managing the transaction process to ensure that all required steps are completed on time for signing or closing.
What kinds of experience can summer associates gain at this practice area at your firm?
As a summer associate, you will get staffed on matters just like any other associate, and you’ll be a core member of the deal team. Our summer program is designed to give you a meaningful glimpse into all aspects of a deal. In addition to working on substantive assignments that are appropriate for a junior associate, you will have a chance to shadow other attorneys as they complete due diligence, draft documents, or negotiate on calls.