Image: Jonathan A. Dhanawade

Jonathan A. Dhanawade

Of Counsel, Corporate Department


Jonathan Dhanawade is Of Counsel in the Private Equity and M&A practices at Paul Hastings. Jonathan is also an adjunct professor at Northwestern Pritzker School of Law, where he teaches a course on private equity transactions.

Jonathan regularly represents private equity firms and their portfolio companies in structuring, negotiating and executing complex business transactions, including domestic and cross-border mergers and acquisitions, divestitures, leveraged buyouts, going-private transactions, carve-out transactions, joint ventures, recapitalizations, corporate restructurings and equity investments (including PIPEs and growth equity investments). He also counsels clients on a range of general corporate matters, including corporate governance, executive compensation and incentive equity arrangements.

Representative transactions have ranged in size from several million dollars to several billion dollars and have covered a wide array of industries, including aviation, business and financial services, education, healthcare, manufacturing, media, pharmaceuticals, software and technology.

Prior to joining Paul Hastings, Jonathan was a partner in the Chicago office of a multinational law firm.


  • Northwestern Pritzker School of Law, J.D., cum laude, 2015
    • Editor-in-Chief, Northwestern Journal of International Law and Business
    • Teaching Assistant, Negotiations
  • University of Delaware, B.A., International Relations, 2011
    • University of Delaware Honors Program
    • Founder and President, University of Delaware Rotary Club


  • Represented OpenGate Capital in its acquisition of Player One Amusement Group.
  • Represented Heartland Business Systems, a portfolio company of Alvarez & Marsal Capital, in its acquisition of Midwest Computech.
  • Represented Four Seasons Heating and Air Conditioning, a portfolio company of Cortec Group, in numerous add-on acquisitions.
  • Represented Fireside Investments in its acquisition of an Illinois-based owner and operator of car washes.
  • Represented a portfolio company of a private equity fund in its out-of-court restructuring.
  • Represented BPOC in its launch of Atlas Clinical Research.
  • Represented H.I.G. Growth Partners in its strategic growth investment in ProsperOps.
  • Represented Cortec Group in its acquisition of Four Seasons Heating and Air Conditioning and Four Seasons Home Services.
  • Represented Resonetics, a portfolio company of GTCR with significant investment from Carlyle, in its acquisition of Agile MV.
  • Represented Water Street Healthcare Partners in its sale of Custopharm to Hikma Pharmaceuticals PLC.
  • Represented GTCR and Reverence Capital Partners in their definitive agreement with Wells Fargo & Company to acquire Wells Fargo Asset Management.
  • Represented Paya, a portfolio company of GTCR, in multiple transactions, including its acquisition of VelocIT Business Solutions.
  • Represented Summit Partners in multiple transactions, including its investment in Rocky Mountain Senior Care, Chase Grant Billing, and AutoMedical; its recapitalization of Ylopo; its acquisition of Marietta Eye Clinic; and its sale of Healthline Media to Red Ventures.
  • Represented AFV Partners in its PIPE investment in Canoo.
  • Represented GTCR in multiple transactions, including its recapitalization of Jet Support Services.
  • Represented Stable Road Acquisition Corp. in its merger with Momentus.
  • Represented Centerbridge Partners in its majority equity investment in Syncapay.
  • Represented Thoma Bravo in its acquisition of Majesco.
  • Represented iOffice Holdings, a portfolio company of Waud Capital Partners, in its acquisition of ManagerPlus Solutions.
  • Represented Home Care Assistance, a portfolio company of Summit Partners, in multiple transactions, including its acquisitions of Alpine Health Ventures, Seniorcorps, and Hyperion Ventures.
  • Represented Parthenon Capital in its sale of Relation Insurance Services to Aquiline Capital Partners.
  • Represented Audax in its acquisition of Aspen Surgical from Hillrom.
  • Represented Arcline Capital Partners in its acquisition of Pride Engineering from May River Capital.
  • Represented AssuredPartners, a portfolio company of GTCR and Apax, in its acquisition of Corkill Insurance Agency.
  • Represented Valaris Limited in its financial restructuring and emergence from Chapter 11.
  • Represented Arsenal Capital in its sale of Polymer Solutions Group's Polymer Additives division to The Jordan Company.
  • Represented Waud Capital Partners in multiple transactions, including its launch of veterinary services platform, Heart + Paw, and its acquisition of the Apotheco Pharmacy Group.
  • Represented Federal Street Acquisition, a special-purpose acquisition company sponsored by an affiliate of Thomas H. Lee Partners, in its business combination with Agiliti Holdco, the holding company of Agiliti Health.
  • Represented Reedy Industries in its recapitalization by Audax.
  • Represented Periscope Equity in its investment in Power Digital Marketing.

*Includes certain transactions that were handled prior to joining Paul Hastings.

Jonathan has also represented Alvarez & Marsal Capital, Abry, Bain Capital, Cohere Capital, Cortec Group, Diversis Capital, H.I.G. Capital, Flexpoint Partners, Lake Capital Partners, Madison Industries, Pine Island Capital Partners and Varsity Management Company in a variety of transactions.

Engagement & Publications

  • A New Day? A 2024 US Private Equity Outlook, Daily Journal (2024)
  • Panelist, “Ask Me Anything: A Virtual Panel on Diversity in BigLaw” (hosted by the Black Law Students Association of Washington University School of Law)
  • Panelist, 2022 Northwestern JD-MBA Association Sponsors Panel
  • Bulk Transfers of Accounts in Broker-Dealer M&A: Regulatory Developments, Skadden’s 2016 Insights
  • I Got 99 Problems and They’re All FATCA, 35 Northwestern Journal of International Law and Business (2014)


  • Adjunct Professor (Private Equity), Northwestern Pritzker School of Law
  • Mentor, 1871
  • Mentor, Techstars
  • Mentor, mHUB

Practice Areas

Mergers and Acquisitions

Private Equity




Illinois Bar

New York Bar


Northwestern Pritzker School of Law, J.D. 2015

University of Delaware, B.A. 2011

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