Adrienne Ellman

Partner, Co-Chair, Private Equity Transactions Group - New York

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Adrienne Ellman is a partner and Co-Chair of Foley Hoag's Private Equity Transactions Group. 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 Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, in its $1.7 billion acquisition of Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies (2019)
  • Represented Fiera Comox Partners Inc. in its acquisition of Vermont-based Sweet Tree Holdings 1, LLC (d/b/a The Maple Guild) (2018)
  • Represented 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)
  • Represented Curriculum Associates, LLC in its acquisition by Berkshire Partners (2017)
  • Represented International Data Group, Inc. in its acquisition by China Oceanwide and IDG Capital, Inc. (2017)
  • Represented Mill Road Capital in its tender offer for Skullcandy, Inc. for $196.6M (2016)
  • Represented Mill Road Capital in its take-private of R.G. Barry Corporation for $215M (2014)
  • Represented Mill Road Capital in its take-private of Rubio’s Restaurants, Inc. for $91M (2010)

Strategic M&A

  • 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) 
  • Represented 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)
  • Represented 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)
  • Represented global biotechnology company Thermo Fisher Scientific Inc. (NYSE: TMO) 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 (NYSE: LLY) (2018)
  • Represented Inovalon Holdings Inc. (NASDAQ: INOV) in its $1.2B acquisition of ABILITY Network (2018)
  • Represented Exa Corporation in its $400M sale to French software company Dassault (EPA: DSY) (2017)
  • Represented the shareholders of the Northern Harvest Sea Farms group in its sale to Marine Harvest for CAD 315 million (2017)
  • Advised CareMed Specialty Pharmacy in its sale to PharMerica Corporation (NYSE: PMC) (2017)
  • Represented IQuum, Inc. in its sale to Roche Molecular Systems, Inc. for approximately $450 million (2014)
  • Represented Order Motion in its sale to NetSuite (2013)
  • Represented deCODE Genetics ehf in its sale to Amgen Inc. (NASDAQ: AMGN) for approximately $415 million (2012)
  • Represented WHI Solutions, Inc. in sale to eBay, Inc. (NASDAQ: EBAY) (2012)
  • Represented Thomas Partners Inc. in its sale to The Charles Schwab Corporation (NYSE: SCHW) (2012)


  • Recognized nationally as a “Next Generation Lawyer” by The Legal 500


  • Boston Bar Association, Member
  • Women’s Bar Association, Member
  • MLGBTQ Bar Association, Member
  • Association for Corporate Growth, Member
  • 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

  • Admitted only in Massachusetts