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Ray represents private equity and hedge funds, and counsels corporations, in merger and acquisition transactions, financings and related matters. 

Mr. Baltz is a senior partner in King & Spalding’s Corporate, Finance and Investment Group and the former head of the Global Corporate Department.  Mr. Baltz has extensive experience representing private equity and hedge funds in a wide variety of matters. Mr. Baltz has handled private equity buyouts totaling over $30 billion in the past several years.  Mr. Baltz is an adept business lawyer who is especially skilled at structuring private equity acquisitions and investments involving middle-market companies and executing leveraged buyouts on behalf of institutional buy-side clients.  Mr. Baltz also is a member of the Southeast chapter of the Business Executives for National Security (BENS), and a former member of the Boards of Directors of Big Brothers Big Sisters and Buckhead Baseball.  

Key Clients:

Arcapita

Assured Investment Management

Brookfield Asset Management

Eagle Merchant Partners

Level 5 Capital Partners

Northlane Capital Partners

Power Sustainable Lios

Red Dog Equity

Roark Capital

Slate Asset Management

Source Capital

 

Full Bio

Credentials

J.D., Boston University, summa cum laude

M.B.A., Boston College

B.S., Eastern Nazarene College

Georgia

State Bar of Georgia

Matters

October 10, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of MBA Mission USA.

September 26, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of Reach Cambridge.

September 24, 2025

Advised Eagle Merchant Partners on its acquisitions of EnviroSmart Sumter Solidification and High Pressure Investments.

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Matters

October 10, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of MBA Mission USA.

September 26, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of Reach Cambridge.

September 24, 2025

Advised Eagle Merchant Partners on its acquisitions of EnviroSmart Sumter Solidification and High Pressure Investments.

September 5, 2025

Advised Eagle Merchant Partners on its acquisition of Guidewell Education.

September 2, 2025

Advised Red Dog Equity on its sale of Superio USA Waste to GFL Environmental.

July 9, 2025

Advised Northlane Capital Partners on its sale of Empower Community Care to NexPhase Capital.

July 1, 2025

Advised Arcapita on its acquisition of C&K Paving Contractors.

July 1, 2025

Advised Northlane Capital Partners on its sale of The Difference Card to Stone Point Capital.

February 27, 2025

Advised Northlane Capital Partners on its acquisition of Strategic Claim Consultants.

January 16, 2025

Advised Northlane Capital Partners on its acquisition of Plus Delta Partners.

November 12, 2024

Advised Northlane Capital Partners on its acquisition of Stellar Public Adjusting Services.

October 11, 2024

Advised Eagle Merchant Partners on its acquisition of Sam the Concrete Man.

July 5, 2024

Advised Source Capital and Backyard Products on their acquisition of KidKraft in a Chapter 11 process.

July 1, 2024

Advised Northlane Capital Partners on its sale of BrandMuscle Holdings to Truelink Capital Partners.

April 27, 2024

Advised Northlane Capital Partners on its sale of VMG Health to Incline Partners.

February 28, 2024

Advised Eagle Merchant Partners on its acquisition of AYA Medical Spa.

October 27, 2023

Advised Brookfield Capital Partners on its sale of Rotomaster to MidOcean Partners and Cloyes Gear & Products.

September 26, 2023

Advised Arcapita on its sale of Waste Harmonics to TPG and Keter Environmental Services.

June 30, 2023

Advised Brookfield Capital Partners on its sale of Cardone Industries to First Brands Group.

June 30, 2023

Advised Arcapita and Nationwide Property & Appraisal Services on their acquisition of Integrity Appraisal Management.

April 28, 2023

Advised Northland Capital Partners and VMG Health on their acquisition of the assets of BSM Financial.

April 28, 2023

Advised Eagle Merchant Partners on its acquisition of Impact Home Services.

March 31, 2023

Advised Eagle Merchant Partners on its acquisition of AmeriSpec and Furniture Medic from Roark Capital.

October 21, 2022

Advised Eagle Merchant Partners on its acquisition of Eskola Roofing.

September 12, 2022

Advised Eagle Merchant Partners on its acquisition of assets from Driven Brands.

December 1, 2025

Advised Eagle Merchant Partners on its acquisition of Atlantic Pipe Services.

December 12, 2025

Advised Slate Asset Management on its acquisition of Cold-Link Logistics.

December 23, 2025

Advised Power Sustainable Lios on its acquisition of Crofters Food.

March 29, 2022

Advised Eagle Merchant Partners on its acquisition of Enviro-Master International Franchise.

March 24, 2022

Advised Source Capital and Backyard Products in its completion of a continuation fund involving Timber Bay Partners.

December 31, 2021

Advised Arcapita on its acquisition of Nationwide Property & Appraisal Services.

December 24, 2021

Advised Eagle Merchant Partners on its sale of Caliber Car Wash to Percheon Capital.

December 21, 2021

Advised Eagle Merchant Partners on its sale of Recreational Group to Sentinel Capital Partners.

December 15, 2021

Advised Eagle Merchant Partners on its investment in Impact Auto.

September 24, 2021

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness franchises in Illinois.

September 17, 2021

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness franchises in Missouri.

August 19, 2021

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness franchises in Utah.

July 19, 2021

Advised Arcapita on its acquisition of One Plus Systems.

June 30, 2021

Advised Arcapita on its sale of Stratus Unlimited to Vestar Capital Partners.

June 1, 2021

Advised Northlane Capital Partners on its acquisition of The Difference Card.

April 30, 2021

Advised Red Dog Equity on its acquisition of PureMagic Carwash.

March 29, 2021

Advised Northlane Capital Partners on its acquisition of Empower Community Care.

January 28, 2021

Advised Source Capital and Backyard Products on their acquisition of Yardistry Limited.

November 24, 2020

Advised Eagle Merchant Partners on is sale of Lone Star Overnight to WeDo Logistics.

June 11, 2020

Advised Eagle Merchant Partners on its investment in Code Ninjas.

March 17, 2020

Advised Northlane Capital Partners on its acquisition of VMG Health.

December 30, 2019

Advised Eagle Merchant Partners on the sale of Planet Fitness studio franchises to American Securities.

December 26, 2019

Advised Arcapita on its acquisition of Waste Harmonics, a leading provider of waste and recycling management solutions.

December 19, 2019

Advised Brookfield Infrastructure Group and Public Sector Pension Investment on their sale of Wind Energy Transmission Texas to Axiom Infrastructure.

November 27, 2019

Advised Level 5 Capital on its sale of Corepower Yoga studio franchises to TSG Consumer Partners.

November 4, 2019

Advised Eagle Merchant Partners on its sale of Chicken Salad Chick to Brentwood Associates.

August 30, 2019

Advised Arcapita on its acquisition of Icon Investment Holdings, a manufacturer, servicer and installer of commercial signage.

July 8, 2019

Advised BlueMountain Capital Management in connection with the sale of AdaptHealth Holdings to DFB Healthcare Acquisitions Corp. (NASDAQ: DFBH), a special purpose acquisition company sponsored by Deerfield Management.

June 19, 2019

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness studio franchises from affiliates of Michigan OT Partnership.

April 11, 2019

Advised Brookfield Principal Credit ("BPC") on a transaction which resulted in BPC acquiring 85% of the limited partnership interests of Cardone Industries, a leading aftermarket auto parts manufacturer of new and remanufactured auto parts.

March 15, 2019

Advised Northlane Capital Partners on its sale of Science Care to Levine Leichtman Capital Partners.

February 27, 2019

Advised BlueMountain Capital Management in connection with its investment in common equity and subordinated debt of AdaptHealth Holdings.

January 28, 2019

Advised Arcapita on its acquisition of Coastal Sign and Wayfinding, Inc., a manufacturer, servicer and installer of commercial signage.

October 16, 2018

Advised Red Dog Equity on its acquisition of Mammoth Holdings, a car wash operator in the Southeast.

July 11, 2018

Advised Eagle Merchant Partners on its acquisition of The Recreational Group, a market-leading designer, manufacturer and installer of premier surfacing solutions that promote a healthy, active lifestyle.

December 22, 2017

Advised Arcapita on its acquisition of MC Sign, one of the largest providers of signage, lighting and electrical solutions throughout the United States and Canada.

April 1, 2016

Advised Northlane Capital Partners on its acquisition of Science Care Holdings.

December 1, 2015

Advised American Capital Equity on its acquisition of BrandMuscle Holdings, a leading local and channel marketing integrator.

February 9, 2015

Advised XPO Logistics on its acquisition of UX Specialized Logistics (Urban Express), a provider of last mile logistics services for major retail chains and e-commerce companies.

Matters

October 10, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of MBA Mission USA.

September 26, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of Reach Cambridge.

September 24, 2025

Advised Eagle Merchant Partners on its acquisitions of EnviroSmart Sumter Solidification and High Pressure Investments.

See more

Close

Matters

October 10, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of MBA Mission USA.

September 26, 2025

Advised Eagle Merchant Partners and Guidewell Education on their acquisition of Reach Cambridge.

September 24, 2025

Advised Eagle Merchant Partners on its acquisitions of EnviroSmart Sumter Solidification and High Pressure Investments.

September 5, 2025

Advised Eagle Merchant Partners on its acquisition of Guidewell Education.

September 2, 2025

Advised Red Dog Equity on its sale of Superio USA Waste to GFL Environmental.

July 9, 2025

Advised Northlane Capital Partners on its sale of Empower Community Care to NexPhase Capital.

July 1, 2025

Advised Arcapita on its acquisition of C&K Paving Contractors.

July 1, 2025

Advised Northlane Capital Partners on its sale of The Difference Card to Stone Point Capital.

February 27, 2025

Advised Northlane Capital Partners on its acquisition of Strategic Claim Consultants.

January 16, 2025

Advised Northlane Capital Partners on its acquisition of Plus Delta Partners.

November 12, 2024

Advised Northlane Capital Partners on its acquisition of Stellar Public Adjusting Services.

October 11, 2024

Advised Eagle Merchant Partners on its acquisition of Sam the Concrete Man.

July 5, 2024

Advised Source Capital and Backyard Products on their acquisition of KidKraft in a Chapter 11 process.

July 1, 2024

Advised Northlane Capital Partners on its sale of BrandMuscle Holdings to Truelink Capital Partners.

April 27, 2024

Advised Northlane Capital Partners on its sale of VMG Health to Incline Partners.

February 28, 2024

Advised Eagle Merchant Partners on its acquisition of AYA Medical Spa.

October 27, 2023

Advised Brookfield Capital Partners on its sale of Rotomaster to MidOcean Partners and Cloyes Gear & Products.

September 26, 2023

Advised Arcapita on its sale of Waste Harmonics to TPG and Keter Environmental Services.

June 30, 2023

Advised Brookfield Capital Partners on its sale of Cardone Industries to First Brands Group.

June 30, 2023

Advised Arcapita and Nationwide Property & Appraisal Services on their acquisition of Integrity Appraisal Management.

April 28, 2023

Advised Northland Capital Partners and VMG Health on their acquisition of the assets of BSM Financial.

April 28, 2023

Advised Eagle Merchant Partners on its acquisition of Impact Home Services.

March 31, 2023

Advised Eagle Merchant Partners on its acquisition of AmeriSpec and Furniture Medic from Roark Capital.

October 21, 2022

Advised Eagle Merchant Partners on its acquisition of Eskola Roofing.

September 12, 2022

Advised Eagle Merchant Partners on its acquisition of assets from Driven Brands.

December 1, 2025

Advised Eagle Merchant Partners on its acquisition of Atlantic Pipe Services.

December 12, 2025

Advised Slate Asset Management on its acquisition of Cold-Link Logistics.

December 23, 2025

Advised Power Sustainable Lios on its acquisition of Crofters Food.

March 29, 2022

Advised Eagle Merchant Partners on its acquisition of Enviro-Master International Franchise.

March 24, 2022

Advised Source Capital and Backyard Products in its completion of a continuation fund involving Timber Bay Partners.

December 31, 2021

Advised Arcapita on its acquisition of Nationwide Property & Appraisal Services.

December 24, 2021

Advised Eagle Merchant Partners on its sale of Caliber Car Wash to Percheon Capital.

December 21, 2021

Advised Eagle Merchant Partners on its sale of Recreational Group to Sentinel Capital Partners.

December 15, 2021

Advised Eagle Merchant Partners on its investment in Impact Auto.

September 24, 2021

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness franchises in Illinois.

September 17, 2021

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness franchises in Missouri.

August 19, 2021

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness franchises in Utah.

July 19, 2021

Advised Arcapita on its acquisition of One Plus Systems.

June 30, 2021

Advised Arcapita on its sale of Stratus Unlimited to Vestar Capital Partners.

June 1, 2021

Advised Northlane Capital Partners on its acquisition of The Difference Card.

April 30, 2021

Advised Red Dog Equity on its acquisition of PureMagic Carwash.

March 29, 2021

Advised Northlane Capital Partners on its acquisition of Empower Community Care.

January 28, 2021

Advised Source Capital and Backyard Products on their acquisition of Yardistry Limited.

November 24, 2020

Advised Eagle Merchant Partners on is sale of Lone Star Overnight to WeDo Logistics.

June 11, 2020

Advised Eagle Merchant Partners on its investment in Code Ninjas.

March 17, 2020

Advised Northlane Capital Partners on its acquisition of VMG Health.

December 30, 2019

Advised Eagle Merchant Partners on the sale of Planet Fitness studio franchises to American Securities.

December 26, 2019

Advised Arcapita on its acquisition of Waste Harmonics, a leading provider of waste and recycling management solutions.

December 19, 2019

Advised Brookfield Infrastructure Group and Public Sector Pension Investment on their sale of Wind Energy Transmission Texas to Axiom Infrastructure.

November 27, 2019

Advised Level 5 Capital on its sale of Corepower Yoga studio franchises to TSG Consumer Partners.

November 4, 2019

Advised Eagle Merchant Partners on its sale of Chicken Salad Chick to Brentwood Associates.

August 30, 2019

Advised Arcapita on its acquisition of Icon Investment Holdings, a manufacturer, servicer and installer of commercial signage.

July 8, 2019

Advised BlueMountain Capital Management in connection with the sale of AdaptHealth Holdings to DFB Healthcare Acquisitions Corp. (NASDAQ: DFBH), a special purpose acquisition company sponsored by Deerfield Management.

June 19, 2019

Advised Level 5 Capital Partners on its acquisition of Orangetheory Fitness studio franchises from affiliates of Michigan OT Partnership.

April 11, 2019

Advised Brookfield Principal Credit ("BPC") on a transaction which resulted in BPC acquiring 85% of the limited partnership interests of Cardone Industries, a leading aftermarket auto parts manufacturer of new and remanufactured auto parts.

March 15, 2019

Advised Northlane Capital Partners on its sale of Science Care to Levine Leichtman Capital Partners.

February 27, 2019

Advised BlueMountain Capital Management in connection with its investment in common equity and subordinated debt of AdaptHealth Holdings.

January 28, 2019

Advised Arcapita on its acquisition of Coastal Sign and Wayfinding, Inc., a manufacturer, servicer and installer of commercial signage.

October 16, 2018

Advised Red Dog Equity on its acquisition of Mammoth Holdings, a car wash operator in the Southeast.

July 11, 2018

Advised Eagle Merchant Partners on its acquisition of The Recreational Group, a market-leading designer, manufacturer and installer of premier surfacing solutions that promote a healthy, active lifestyle.

December 22, 2017

Advised Arcapita on its acquisition of MC Sign, one of the largest providers of signage, lighting and electrical solutions throughout the United States and Canada.

April 1, 2016

Advised Northlane Capital Partners on its acquisition of Science Care Holdings.

December 1, 2015

Advised American Capital Equity on its acquisition of BrandMuscle Holdings, a leading local and channel marketing integrator.

February 9, 2015

Advised XPO Logistics on its acquisition of UX Specialized Logistics (Urban Express), a provider of last mile logistics services for major retail chains and e-commerce companies.

Credentials

J.D., Boston University, summa cum laude

M.B.A., Boston College

B.S., Eastern Nazarene College

Georgia

State Bar of Georgia