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13 January 20215 minute read

DLA Piper advises Riverwood Capital and Forecast5 Analytics in the sale of Forecast5 to Frontline Education

DLA Piper represented Riverwood Capital, a technology-focused growth equity firm, and Forecast5 Analytics, a provider of advanced data analytics software designed specifically for the public sector, in the sale of Forecast5 to Frontline Education, a leading provider of school administration software and services purpose-built for K-12.

Forecast 5 is a leading provider of financial forecasting, benchmarking, student performance and geovisual analytics software to the K-12 education sector. With Forecast5 tools, K-12 financial leaders can track current financial performance, benchmark historical performance and develop scenario-based forecasts to predict financial needs. Forecast5’s more than 2,000 clients across the country use its tools to make more informed decisions and improve student success.


Riverwood Capital is a technology-focused growth equity firm with over US$3 billion in assets under management. Riverwood offers a unique combination of operational, strategic, technological and financial insight to portfolio companies that need both growth capital and expertise in order to scale. The firm has offices in Menlo Park, California, New York City and Sao Paulo, Brazil.


“We are pleased to utilize our market-leading M&A capabilities and extensive experience guiding growth equity firms through complex transactions to assist in the sale of Forecast5 to Frontline Education. It is exciting to see these organizations combine to provide comprehensive solutions to address the needs of school districts across the country,” said Brandee Diamond, the DLA Piper partner who led the firm’s deal team.


In addition to Diamond (Silicon Valley), the DLA Piper team representing Riverwood and Forecast5 included partners Jeff Aronson, SeoJung Park (both of Silicon Valley), Kate Lucente (Seattle), Paolo Morante (New York) and Cathryn Le Regulski (Northern Virginia); senior counsel William Hoffman (Silicon Valley); and associates Philipp Tsukanov, Nicholas Gerlach (both of Silicon Valley), Stasha Loeza (Seattle), Jason Veit (Chicago) and Maya McKenzie (Atlanta).


With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket. The firm’s Private Equity practice includes more than 100 US lawyers who provide strategic counsel to private equity funds and the industry-leading companies they invest in. Pitchbook has repeatedly recognized DLA Piper as the second most active private equity law firm globally, further solidifying the strength of the firm’s team and its depth of experience executing private equity transactions.


DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.