Prairie Capital III, L.P. v. Double E Holding Corp.

OPINION

LASTER, Vice Chancellor.

This case arises out of the sale of a portfolio company by one private equity firm to another. The portfolio company was Double E Parent LLC (“Double E” or the “Company”). The principal sellers were Prairie Capital, III, L.P. and Prairie Capital III QP, L.P. (the “Prairie Funds”), which were private equity funds sponsored by Prairie Capital Partners (“Prairie Capital”). The purchaser was Double E Holding Corp. (the “Buyer”), which was an acquisition vehicle formed by Incline Equity Partners, III, L.P. (the “Incline Fund”). The Incline Fund was a private equity…