Ira C. Gubernick

Vice Chair, Corporate Practice Group

: Philadelphia
One Liberty Place
1650 Market Street
Suite 2800
Philadelphia, PA 19103
P: (215) 665-5545
TF: (800) 523-2900
F: (215) 665-2013

Ira C. Gubernick

Ira has more than 24 years of experience representing clients in all aspects of transactional matters, including mergers and acquisitions, restructurings, joint ventures, and general corporate and board of director counseling. He has extensive boardroom experience and advises clients on strategic transactions, corporate governance, and board advisory matters. He is known for his problem solving abilities, judgment, and drive to achieve positive results for his clients. He represents public companies, private companies, and entrepreneurs during all points of a company’s life cycle. His practice encompasses a multitude of diverse industries. He has counseled corporate boards and executives at a senior level dating back to the early 1990s.

Ira started his career in 1989 as an associate at an international law firm. In 1993, he joined Genesis Health Ventures, Inc., a New York Stock Exchange (NYSE) listed, health care company headquartered in Kennett Square, Pa. At Genesis, Ira served as a senior executive in the positions of vice president – office of the chairman, corporate general counsel, and corporate secretary. Ira was involved in all aspects of the company’s board of director’s activities, strategic corporate transactions, and public company representation. Ira oversaw the company’s securities filings and signed the company’s proxy statements. During his tenure, Ira was involved in more than a billion dollars of mergers and acquisitions and joint ventures assisting in the company’s growth from $200 million to more than $2.5 billion in annual revenues and 1,200 to 45,000 employees. Ira was also principally involved in the initial public offering of ElderTrust, a NYSE listed health care REIT, and its subsequent sale to Ventas, Inc., a leading health care REIT.

In 2000, Ira left Genesis to join supplyFORCE.com, a highly regarded technology startup company specializing in streamlining the supply chain for indirect materials (MRO) to Fortune 500 companies. At supplyFORCE, he served as a senior executive in the positions of senior vice president and general counsel. SupplyFORCE raised $87 million in private equity financings and he was instrumental in the company’s second round of $52 million in private equity raise, which included investments from APAX Partners (then known as Patricof & Co.) and Comcast Interactive Capital. In 2004, Ira returned to private practice, leading to his arrival to Cozen O'Connor's Corporate Practice Group in 2013.

Ira received his J.D. from New York University School of Law in 1989. He earned his bachelor’s degree in accounting, with distinction, from The George Washington University in 1986. He is a member of the accounting academic society, Beta Alpha Psi; the business academic society, Beta Gamma Sigma; and the leadership honor society, Omicron Delta Kappa. He served as president of The George Washington University Student Government and was the first-ever recipient of the Distinguished Scholar Award from the University’s School of Government and Business Administration. He is a former alumni trustee of The George Washington University.

Experience

Served as special internet gaming counsel for the first Multistate Internet Gaming Agreement.

Represented ElderTrust (NYSE) in its approximately $200 million sale to Ventas, Inc. (NYSE).

Represented Lubert-Adler, partnering with Cerberus Capital Management, L.P. and Sun Capital, in its $1.6 billion cash acquisition of Mervyn’s department stores (then a subsidiary of Target).

Represented ElderTrust in its $200 million initial public offering (NYSE).

Represented Genesis Health Ventures, Inc. (NYSE) in its: $1.4 billion cash acquisition of the Multicare Companies, Inc. (NYSE), $590 million acquisition of Vitalink Pharmacy Services, Inc., $250 million acquisition of Meridian Healthcare, Inc. (private company), $235 million acquisition of Geriatric & Medical Companies (NYSE), $65 million acquisition of National Health Care Affiliates, Inc. (private company), $60 million acquisition of Neighborcare Professional Pharmacies (private company), and $60 million acquisition of McKerley Health Care Centers, Inc. (private company).

Represented the Vetri Family of Restaurants in connection with its sale to Urban Outfitters Inc. (URBN). Following the sale, Vetri will lead a food and beverage division for the global lifestyle retailer, positioning the Vetri Family brands for national growth as part of the Urban Outfitters family.

Represented one of the country's largest post-acute care providers in connection with the $84 million sale of its hospice and home health subsidiaries to a nationwide network of community-based hospice and palliative care programs.

Represented Wayne, Pennsylvania-based Evolve IP, The Cloud Services Company^TM, in connection with the sale of a majority stake in the company to Boston-based private equity firm, Great Hill Partners.

Represented NewSpring Capital in connection with a $100 million investment in SnagAJob.com, Inc., which is the country's largest marketplace for hourly job seekers and employers. This was the inaugural investment for NewSpring Capital's dedicated growth and expansion stage fund, NewSpring Growth Capital, and included co-investors Invus Group and Rho Acceleration.

Handled title and survey review in connection with four nursing home properties in three states in sale and leaseback transactions.

Represented the seller of a portfolio of five properties, located in two states, including an office building, two office parks, and two multifamily properties, with a total value in excess of $75 million.

Represented WWSC Holdings, LLC, one of the largest structural steel fabrication and erection companies in North America, in connection with the acquisition by Alleghany Capital Corporation of a majority interest in the company.

Represented Evolve IP, LLC, a Pennsylvania-based cloud computing company, in its acquisition of an Arizona-based cloud services provider.

Represented a Pennsylvania-based cloud computing company in its acquisition of a proprietary, cloud-hosted contact center product line with operations in the United States and Israel.

Represented the seller in the sale of 80 percent of a family business in the luxury retail industry.

Represented Evolve IP, LLC, a Pennsylvania-based cloud computing company, in connection with its purchase of Xtium, Inc., which provides disaster recovery, Desktop as a Service (DaaS), managed cloud hosting, and managed online backup services.

Represented EvolveIP, LLC, a Pennsylvania-based cloud computing company, in its acquisition of Mtel B.V. and Mtel GmbH, cloud communications services providers of contact centers, IP phone systems, and business collaboration tools based in the Netherlands and Germany.

Represented NewSpring Growth Capital in connection with its $25 million equity investment in digital technology innovator Intersection Holdings, LLC as part of a $150 million funding round.

Represented NewSpring Growth Capital in connection with its minority investment in Vacasa, LLC, one of the largest full-service vacation rental companies in the United States, as part of a $103.5 million Series B financing round.

News

Corporate Attorney Ira Gubernick Named Among “Best of the Bar” by the Philadelphia Business Journal

October 17, 2017

Ira C. Gubernick, vice chair of Cozen O’Connor’s Corporate Practice Group, was selected for the Philadelphia Business Journal’s inaugural “Best of the Bar.”

Cozen O’Connor Announces Strategic Partnership with Dreamit

April 25, 2016

Launches New “COpilot” Website Designed to Address Emerging Businesses’ Needs

Shark Tank-Style Competition and More to Watch for at the IMPACT Conference

October 30, 2015

Michael J. Heller and Ira C. Gubernick are quoted in Philadelphia Magazines - BizPhilly discussing the upcoming IMPACT 2015 Capital Conference and the Philadelphia entrepreneurial community.

Nev., Del. Sign Landmark Interstate Online Poker Deal [Law360]

February 25, 2014

Delaware and Nevada announced Tuesday that they had struck the United States' first ever agreement to allow authorized casinos and operators to share online poker players across state lines, in a deal that leaves open a door for other states to join in.

Cozen O’Connor Expands with the Addition of Corporate, Real Estate Attorneys

May 13, 2013

Two attorneys have joined the Philadelphia office of Cozen O'Connor: Ira C. Gubernick, formerly of Klehr Harrison Harvey Branzburg, joins the firm as a partner in the corporate practice, and Richard S. Roisman, formerly with McCarter & English, joins as a partner in the real estate practice.

Events & Seminars

ACC Greater Philadelphia - Corporate Counsel University	Philadelphia, PA	02/13/2018
M&A East 2016	Philadelphia, PA	09/27/2016
2015 Health Law Year in Review	Philadelphia, PA	12/08/2015
IMPACT 2015 Capital Conference	Philadelphia, PA	11/03/2015