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competitive drive
 

Timothy R. Damschroder

Member,Ann Arbor

T 734-930-0230F 734-930-2494734-930-0230

competitive drive
Languages
  • Norwegian
Education
  • University of Detroit School of Law, J.D.
  • University of Michigan, A.B.
Admissions
  • Michigan
Court Admissions
  • U.S. Ct. of Int'l Trade
Professional Affiliations
  • American Bar Association
  • Institute for Continuing Legal Education
  • Michigan Venture Capital Association
  • State Bar of Michigan
  • Washtenaw Community College
  • Washtenaw County American Red Cross
  • Washtenaw County Bar Association
Overview

Timothy R. Damschroder is the chairperson of the Business Practice Group.

He specializes in middle market M&A transactions (typically ranging from $30 million to $1 billion) and corporate finance. His middle market activities involve companies in a broad range of industries including software, IoT, big data, pharma and other technology based industries, manufacturing, publishing, automotive, aerospace, transportation, retail, food and beverage, construction, and healthcare. His active involvement with client transactions starts with pre-letter of intent negotiations and continues through to final closing. His primary value to clients is working to efficiently and effectively close transactions while helping clients understand and evaluate the important legal issues involved in transactions without hindering the client's business goals.

Mr. Damschroder also specializes in dealing with technology companies from start up to transactions involving intellectual property, to venture capital financing, to eventual sale. Mr. Damschroder has significant experience working with the University of Michigan’s Technology Transfer Office. He is part of a Bodman team that has represented a significant number of the start-up and spin-off companies that have licensed technology from U of M.

His corporate finance work includes fund formation, private placements, debt and equity financing (private equity, venture capital, and angel investments), and derivative transactions including ISDA documentation, master agreements, interest rate swaps, currency swaps and other foreign exchange transactions (FX transactions), and options.

Mr. Damschroder was the 2016 recipient of the State Bar of Michigan Business Law Section’s Stephen H. Schulman Outstanding Business Lawyer Award, presented to one business lawyer in the State of Michigan each year in recognition of contributions to Michigan business law over the course of a career. He is listed in The Best Lawyers in America® 2018, has been named the Best Lawyers® 2017 Mergers and Acquisitions Law "Lawyer of the Year," and was named the Best Lawyers® 2016 Corporate Law “Lawyer of the Year” in Ann Arbor.  He is listed as one of four top-tier ranked lawyers in Chambers USA: America’s Leading Lawyers for Business 2017 under Corporate/M&A – Michigan, being called, “an excellent choice of counsel for private equity and venture capital firms.”

In 2013, Michigan Gov. Rick Snyder appointed Mr. Damschroder to the newly created Michigan Health Endowment Fund Board. The Fund, which was created under Public Act 4 of 2013, will benefit the health and wellness of Michigan residents through programs focusing on children and seniors. Mr. Damschroder serves as Chairperson of the Fund, which is expected to receive up to $1.56 billion in contributions over 18 years.

Mr. Damschroder is a past president of the Business Law Section of the State Bar of Michigan, a past president of Board of Directors of Peace Neighborhood Center, a past vice chair of the Board of Directors of Nonprofit Enterprise At Work (NEW Center), and a past member of the St. Joseph Mercy Health System’s Development Council, a past member of the Board of Directors of the Washtenaw County United Way, member of the St. Joseph Mercy Health System’s Development Council, and served on various committees of Zion Lutheran Church in Ann Arbor.

Honors, Awards, and Recognition
  • The Best Lawyers in America® 2006-2018, Corporate Law, Mergers and Acquisitions Law
  • The Best Lawyers in America 2017 Ann Arbor "Lawyer of the Year," Mergers and Acquisitions Law
  • Michigan Super Lawyers 2006-2016
  • The Best Lawyers in America 2016 Ann Arbor "Lawyer of the Year," Corporate Law
  • Chambers USA 2017, Corporate/M&A
  • DBusiness Magazine "Top Lawyers," 2009, 2011-2017
Professional Activities
  • American Bar Association
    • Business Law Section
    • International Law Section
  • Institute for Continuing Legal Education
    • Business Law Advisory Board
    • Lecturer
  • State Bar of Michigan
    • Business Law Section, Chair
    • International Law Section
Civic, Cultural and Community Activities
  • Washtenaw County American Red Cross, Board of Directors
  • Washtenaw County United Way, Board of Directors
Academic Appointments
  • Lecturer, Washtenaw Community College

 

Representative Matters
  • Represented the owners of Letica Corporation, a diversified manufacturer of plastic packaging and food service products with 13 production facilities in nine U.S. states, to UK-based conglomerate RPC Group plc.
  • Represented iconic Midwest furniture and mattress retailers Art Van, Inc., PureSleep and affiliates in the sale of the companies to Thomas Lee Partners, LP. Art Van and affiliates operate more than 100 facilities in five U.S. states and an associated manufacturing business.
  • Negotiated and closed dozens of corporate finance transactions totaling more than $1 billion including seed and follow-on funding, venture capital funding, mezzanine financing, syndicated loans, traditional bank financing, funding from the Michigan Economic Development Corporation (MEDC), raising funds for a private investment equity, and investing in institutional funds.
  • Served as outside general counsel to Key Plastics, LLC, an injection-molded interior and trim components supplier to original equipment and tier-one automotive manufacturers. In this capacity, Mr. Damschroder handled all M&A activities, board of director governance issues, and corporate finance transactions. He managed the company's other outside law firms and the non-corporate related needs of the companies. He also served in this role for Grede Holdings LLC, an iron casting and machined components manufacturer, prior to its acquisition by Metaldyne Performance Group, Inc.
  • Represented numerous foreign companies in connection with their U.S. operations, including buying, selling and formation of U.S. operations.
  • Advised and represented the individual shareholders-founders of a forty-year-old automotive parts distribution company that sold 100% of their equity to a larger distributor for approximately $77 million.
  • Represented a Michigan-based environmental services company in the acquisition of a distressed nutraceutical LLC located in California, which involved complex intellectual property issues related to the sale.
  • Counseled the owners of a high-precision injection molded plastic components manufacturing company in the sale of the LLC and all of its assets to a private equity firm that makes control investments in middle market manufacturing businesses.
  • Represented a stamping company and its equity holder in the sale of the company and its affiliates and subsidiaries to a private equity firm headquartered in Dallas, Texas. The transaction involved five related sale agreements totaling approximately $70 million.
  • Represented E&R Industrial Sales, Inc., a distributor of metalworking, production supplies and MRO materials, in its acquisition by W.W. Grainger, Inc., North America's leading broad line supplier of maintenance, repair and operating products.
  • Counseled long-time client Jyco Sealing Technologies in the sale of its automotive sealing business to Cooper-Standard Holdings, which included operations in Canada, China, and Mexico.
  • Represented Program Planning Professionals, Inc. (PCubed), a global strategic initiative consulting firm based in the United Kingdom, in the sale of the company to MI-GSO of France, Europe’s leading project management engineering services provider. The combined companies include more than 1,000 consultants in 30 offices worldwide.
  • Represented several venture capital funds in preparing and implementing the fund formation documents including private placement memorandums, fund partnership agreements, subscription agreements and other securities law compliance matters.
  • Represented Grede Holdings and its affiliates in a refinancing and dividend transaction. The transaction involved a new loan agreement with GE Capital Corporation, an amendment to an existing loan agreement with Bank of America, and the issuance of a dividend to Grede’s members.
  • Represented Key Plastics in the reorganization of its European operations. This complex transaction included the sale of non-core assets located in Germany, Spain, and the Czech Republic, the merger of two companies in the German group, securing a loan to the Luxembourg subsidiary to finance the reorganization, and a share purchase agreement to move certain assets from the German group to the Luxembourg holding company.
  • Represented Grede Holdings in its simultaneous debt and capital restructuring, combination through a bankruptcy sale with Grede Foundries Inc., and obtaining a new $60 million senior credit facility from Bank of America and Wells/Wachovia. The transactions included the elimination of about $110 million in debt and the infusion of significant new capital from two private equity firms, Wayzata Investors and GSC Group. The new company employs 4,500 workers at 17 facilities in the U.S. and Mexico.
  • Successfully negotiated the sale of Sysware Health Care Systems, Inc., a software company with operations in the U.S. and in India, to Eclipsys Corporation, and the sale of Leade Health, a leading health coaching firm, to Ceridian Corporation.
  • Represented a private investment fund in connection with the purchase of a multimedia company with operations in London, New York, and Seattle.

 

Practices & Industries Education
  • University of Detroit School of Law, J.D.
  • University of Michigan, A.B.
Admissions
  • Michigan
Professional Affiliations
  • American Bar Association
  • Institute for Continuing Legal Education
  • Michigan Venture Capital Association
  • State Bar of Michigan
  • Washtenaw Community College
  • Washtenaw County American Red Cross
  • Washtenaw County Bar Association