Adrienne Ellman

Partner, Co-Chair, Mergers and Acquisitions, Co-Chair, Private Equity Transactions Group - New York

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Adrienne Ellman is a partner and Co-Chair of Foley Hoag's Mergers and Acquisitions and the Firm's Private Equity Transactions Group. Recognized nationally as a “Leading Lawyer” in middle market M&A by The Legal 500, her practice focuses on representing private equity funds in buy-side and sell-side M&A transactions, including leveraged buyouts, tender offers, going-private transactions, stock-for-stock acquisitions, negotiated and unsolicited acquisitions, carve out and spin-off transactions and minority and growth investments. Her practice spans many different industries and includes buyers and sellers of both public and private companies and in domestic and cross-border transactions.

Adrienne’s M&A practice, which includes working with strategic buyers and sellers in their M&A transactions as well, is bolstered by her strong experience in corporate governance matters. She routinely counsels boards and executive officers on their significant transactions, including fiduciary duty issues, and general corporate matters. Adrienne also regularly works with portfolio companies of private equity firms on their transactional and general corporate matters.

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  • Northeastern University School of Law, J.D.
  • Williams College, B.A.

Representative Experience

Private Equity M&A

  • Represented the founders of Made4Net, LLC, a New Jersey based provider of Warehouse Management Systems and end-to-end supply chain execution software, and its foreign subsidiaries in the sale of all of their shares to Thompson Street Capital Partners V, L.P.
  • Represented Endicott Growth Equity Partners, L.P., an investment fund focused exclusively on the information services, data, and analytics sector, in the acquisition of a majority stake and a strategic growth investment in BNamericas.
  • Galen Partners, a healthcare-focused growth equity fund, in its acquisition of Evolve Treatment Centers, an adolescent behavioral health services provider (2019) 
  • Thermo Fisher Scientific Inc. (Nasdaq : TMO), in its $1.7 billion acquisition of Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies (2019)
  • Fiera Comox Partners Inc. in its acquisition of Vermont-based Sweet Tree Holdings 1, LLC (d/b/a The Maple Guild) (2018)
  • Mill Road Capital II, L.P. and its portfolio company, Skullcandy Inc., in spin off of Skullcandy’s ASTRO Gaming headset business to Logitech (Nasdaq: LOGI) for $85M sale (2017)
  • Curriculum Associates, LLC in its acquisition by Berkshire Partners (2017)
  • International Data Group, Inc. in its acquisition by China Oceanwide and IDG Capital, Inc. (2017)
  • Mill Road Capital in its tender offer for Skullcandy, Inc. for $196.6M (2016)
  • Mill Road Capital in its take-private of R.G. Barry Corporation for $215M (2014)
  • Mill Road Capital in its take-private of Rubio’s Restaurants, Inc. for $91M (2010)

Strategic M&A

  • GreenLight Biosciences, a biotechnology company dedicated to making RNA products affordable and accessible for human health and agriculture, in a $1.2 billion SPAC business combination with Environmental Impact Acquisition Corp. (Nasdaq: ENVI), that will result in GreenLight becoming a publicly listed company (2021)
  • Thermo Fisher Scientific Inc. (NYSE: TMO) in its acquisition of programmable dye platform pioneer Phitonex, Inc. (2020)
  • CredSimple, an NCQA certified credentialing and provider data management solution, in its acquisition of Glenridge Health, a technology-enabled provider network management solutions company (2020)
  • The PGA Corporation, a subsidiary of the PGA of America, in its acquisition of Nextgengolf to enhance player development programming designed to grow the game of golf across emerging generations (2019)
  • Entegris, Inc. (Nasdaq: ENTG), a leader in specialty chemicals and advanced materials solutions for the microelectronics industry, in the acquisition of MPD Chemicals for approximately $165M (2019)
  • LevelUp, a leader in mobile diner engagement and payment solutions for restaurants, in its $390M sale to online and mobile food-ordering and delivery marketplace Grubhub Inc. (2018)
  • Thermo Fisher Scientific Inc. (NYSE: TMO), a global biotechnology company, in its $477 million acquisition of Becton, Dickinson and Company’s Advanced Bioprocessing business (2018)
  • Advised AurKa Pharma, Inc., a company established by TVM Capital Life Science to develop an oncology compound with the potential to treat certain types of solid tumors, in a sale worth up to $575 million to Eli Lilly and Company (Nasdaq: LLY) (2018)
  • Inovalon Holdings Inc. (Nasdaq: INOV) in its $1.2B acquisition of ABILITY Network (2018)
  • Exa Corporation in its $400M sale to French software company Dassault (EPA: DSY) (2017)The shareholders of the Northern Harvest Sea Farms group in its sale to Marine Harvest for CAD 315 million (2017)
  • CareMed Specialty Pharmacy in its sale to PharMerica Corporation (Nasdaq: PMC) (2017)
  • IQuum, Inc. in its sale to Roche Molecular Systems, Inc. for approximately $450 million (2014)
  • Order Motion in its sale to NetSuite (2013)
  • deCODE Genetics ehf in its sale to Amgen Inc. (Nasdaq: AMGN) for approximately $415 million (2012)
  • WHI Solutions, Inc. in sale to eBay, Inc. (Nasdaq: EBAY) (2012)
  • Thomas Partners Inc. in its sale to The Charles Schwab Corporation (Nasdaq: SCHW) (2012)

Foley Hoag Alerts & Updates

In The Media


  • Recognized nationally as a “Leading Lawyer” by The Legal 500 in middle market M&A in 2021 and 2020 
  • Recognized nationally as a “Next Generation Lawyer” by The Legal 500 in 2019
  • Panelist, “The Money Question: Ways to Fund and Finance Your Business,” Women Business Leaders Conference, Center for Women & Enterprise (2017)
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Bar Admissions

  • New York
  • Massachusetts