“If you love private equity but don’t feel naturally inclined to math, you should be a lawyer.”
When Thomas Freyvogel was asked about his career path, he shared this humorous yet enlightening insight with the attending audiences. On February 7, Acta Ventures hosted Tom for a discussion about lawyers’ duties during the acquisition process. Tom is a Senior Associate working at ReedSmith LLP. He graduated from Boston College with a BA in History and Philosophy, but soon developed an interest in corporate law. He later received an MBA from Duquesne University and a law degree from the Catholic University. Since then, Tom has counseled private and public companies across different fields during the M&A transaction process.
During the discussion, Tom talked about a lawyer’s responsibilities at different stages of the acquisition and how they can best be leveraged by their clients. This includes everything from NDAs, IOIs, and LOIs, which lay a framework out to begin negotiations, to the support necessary to ensure a comprehensive purchase agreement. With hundreds, if not thousands, of terms to be negotiated, this is an exhausting process for both sides. However, while it is natural for lawyers to fight for the benefits of their clients, Thomas pointed out that “a good lawyer should be a deal-maker instead of a deal-breaker.”
Even after the signing of the agreement, when “99% of the job should be done”, clients may still need help with employees’ transition or future conflict with the ex-owner.
Tom's perspective provided a valuable insight to the group of Acta Ventures interns and left the conversation with the call for the interns to continue to explore career opportunities while early in their career.