Craig Adas of Weil, Gotshal & Manges has represented private equity shop Genstar Capital for more than a decade. Over the past two years he’d handled a series of leveraged buyouts and dispositions for Genstar and its portfolio companies, including the sale of Tecomet Inc. to Charlesbank Equity Partners and HarbourVest Partners, the acquisition of Aavid Thermalloy from Audax Group, the acquisition of the microwave telecoms business from Smiths Group, and the acquisition of Power Products Holdings LLC from Sentinel Capital Partners. Adas recently told The Recorder a bit about how he manages the deal flow and keeps his private equity clients happy.
What were your professional highlights of the past year? What made that deal or those deals stand out? It was probably the sheer volume of deals we handled for both corporate clients and private equity sponsors. A very high percentage of the deals we started were successfully completed throughout the year.
Which clients do you have the longest relationships with? How far back do those relationships go? I have represented Core-Mark International, Maxim Integrated and Genstar Capital for over 10 years, and I have worked with a few of the senior investment bankers at Evercore for almost 20 years, dating back to when they were with Lehman Brothers.
Why do you think clients come back to you? What can they get from you that they don’t get from someone else? Clients want clear and concise legal advice, based on deep and broad experience. They also want commercially practical advice. I strive to consistently deliver both.
What’s more important in the current market and why: offering bespoke services or being efficient? It really depends on the circumstances. If it is a straightforward transaction, then efficiency is probably the key. But if it is a complex, multifaceted, high-stakes transaction, then the ability to deliver bespoke services will be critically important.
Outside your partners, who is another corporate lawyer you admire and why? Mark Casper, the VP, legal and corporate secretary at Maxim, is an excellent corporate lawyer. He has an incredibly strong work ethic and his judgment is sound. He also is able to handle a broad spectrum of corporate matters, from M&A to securities to governance.