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K&L Gates Advises Foro Holdings, Inc., on Acquisition of Citi's Bridge Platform and Related Capital Investment

18 September 2023

Global law firm K&L Gates LLP advised Charlotte-based commercial lending services provider Foro Holdings, Inc., on its acquisition of Bridge, a digital platform built by Citi to connect small and medium-sized businesses to a diverse group of lenders for business loans. As part of the transaction, Citi joined Foro’s investors, including TTV Capital, US Bank and Correlation Ventures, in an additional capital investment in Foro to support the continued growth of the business.

The K&L Gates team that advised Foro was led by Charlotte corporate partners Michael Hutson and Rick Giovannelli, with assistance from associates Kristin Taylor and Morgan Kleinhandler. The team also included Charlotte partner David Easwaran (IP), partner Jared Mobley and associate Devan Patrick (tax), and Charleston associate Cecilia Ehresman (labor and employment).

David Vorhoff, chairman of Foro’s Board of Directors, noted: “The team at K&L Gates was exceptional throughout the transaction with practical and effective guidance on an expedited timeline, and we are grateful for the dedication and professionalism they displayed. We look forward to working together on more opportunities in the future.”

Hutson stated: “We are pleased to collaborate with clients like Foro on strategically important transactions and bring to bear our knowledge and capabilities in the financial services and technology industries. We are excited to have assisted Foro on a transaction critical for its future growth prospects.”

Foro empowers growing companies seeking commercial loans to access capital by connecting them with appropriate financial institutions, leveraging data and insights to help meet the personalized needs of both the businesses and financial institutions.

K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with more than 500 lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.

K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.

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