Weil is advising H&R Block, Inc., a provider of tax preparation and other services, in its $405 million acquisition of Wave Financial Inc. (Wave), a provider of payment processing, payroll services and bookkeeping services bundled with free accounting, invoicing, and receipt-tracking software for small business owners. The acquisition expands H&R Block’s product and client portfolio and enhances its position in the small business market. Following the closing of the transaction, Wave will maintain its leadership team, including Kirk Simpson, operating independently within H&R Block from its headquarters in Toronto, Ontario. The transaction is expected to close within the next few months, subject to customary closing conditions.
The Weil team advising H&R Block is led by Mergers & Acquisitions partner Raymond Gietz and includes Mergers & Acquisitions associates Dov Kogen, Michael Chenkin and William Rosemberg (Not Yet Admitted in New York). The team also includes Capital Markets partner Corey Chivers; Technology & IP Transactions partner Jeffrey Osterman; Tax partner Devon Bodoh; Executive Compensation & Benefits partner Amy Rubin; Insurance counsel Gabriel Gershowitz; Environmental counsel Thomas Goslin; Antitrust counsel Vadim Brusser; Technology & IP Transactions associates Phillip Grudzina and Rami Sherman; Tax associates Eric Remijan, Irene Kim and Steven Ort; and White Collar Defense, Regulatory and Investigations associate Timothy Welch.