Paul Weiss, Ropes Pen Francisco Partners’ GreenSlate Investment

Paul Weiss advised Francisco Partners on the private equity firm’s strategic growth investment in GreenSlate Holdings LLC, a cloud-based provider of accounting and payroll software for content creators in the entertainment industry.

Ropes & Gray counseled New York-based GreenSlate on the transaction, in which private equity firm VSS Capital Partners exited its stake in the company then reinvested with Francisco Partners and GreenSlate’s management team. GreenSlate’s founder and CEO John Finn will remain a significant equity holder, according to a statement.

Founded in 2004, GreenSlate says its client base includes some of the world’s biggest streaming services, studios, creative production companies, and independent storytellers. Its all-in-one platform enables accountants to track production expenses and tax incentives, pay their crew and manage their benefits.

No financial details were disclosed for the transaction, which closed this month, the statement said.

Paul Weiss said its team advising Francisco Partners included private equity partners Jeremy Veit and Austin Pollet.

Ropes said its team advising GreenSlate was led by private equity partner Carl Marcellino and included finance partner Milap Patel, among others.