Leading Individuals

Firms To Watch: Acquisition finance

The arrival of private credit expert Fergus Wheeler  from White & Case LLP in March 2023 has hugely enhanced Akin‘s potential in the leveraged finance space as well as on the special situations front, where he can effectively leverage the firm’s market-leading restructuring practice.
The arrival in March 2023 of well-respected duo Korey Fevzi and Philip Stopford from Shearman & Sterling LLP was a game-changing move for Cravath, Swaine & Moore LLP‘s London acquisition finance team, adding UK-qualified practitioners to complement its strong New York law high yield offering.  
Paul, Weiss, Rifkind, Wharton & Garrison LLP made a significant play in the London market with the hire of debt finance heavyweight Neel Sachdev from Kirkland & Ellis International LLP, who joined as co-chair of the firm’s global finance and capital markets practice in September 2023.

Acquisition finance in London

A&O Shearman

‘At the forefront of the market in terms of technology and terms’, A&O Shearman provides ‘very high service quality’ to a lender-focused client base that includes its well-established cadre of commercial/investment banks, as well as a growing roster of credit funds. The firm’s flexibility and aptitude at advising on debt products throughout the capital structure, including bank and bond mandates, is a hallmark of the practice, as is its ability to leverage vast international resources on complex cross-border transactions. The ‘excellentDenise Gibson is one of many within a ‘deep, high quality bench’ of lawyers focusing on lender mandates and is noted for her aptitude at handling both sponsor-led matters, as well as corporate-driven acquisition finance mandates. Drawing on a raft of experience in private practice, as well as in secondee roles at banking institutions, Matt Moore is highly attuned to the commercial needs of lender clients, including on structured growth market transactions and other event-driven financings. As well as her conventional acquisition finance strength, Annette Kurdian‘s varied practice also includes niche expertise advising on cross-over leveraged/infrastructure deals, in addition to working on distressed mandates. Although the firm is better-known for its lender credentials, this should by no means detract from a strong borrower practice, which, under the guidance of the ‘exceptionally commercial, knowledgeable and experienced’ Robin Harvey continues to handle new money deals for myriad sponsor clients, as well as providing refinancing assistance for portfolio companies in a challenging economic climate. At a more junior level, the ‘technically knowledgeable and very responsive’ Neil Sinha has also been pivotal to building up the firm’s private equity brand. Gibson co-heads the leveraged finance team alongside Nicholas Clark, who has been central to the firm’s growth in the private credit space, including work for direct lenders on unitranche financing. Philip Bowden also still manages to maintain a vibrant transactional practice (both on leveraged and investment grade acquisition finance deals) alongside his managerial duties as global banking head. Following the merger of A&O and Shearman & Sterling, the practice has been bolstered by the addition of lawyers including the ‘very credible’ Shameer Shah, who ‘is able to articulate complex legal jargon in simple English’, particularly in the context of direct lending transactions.

Responsables de la pratique:

Denise Gibson; Nicholas Clark


Autres avocats clés:

Robin Harvey; Philip Bowden; Simon Roberts; David Campbell; Greg Brown;  Cathy Bell-Walker; James Graham; Annette Kurdian; Robert Burt; Oleg Khomenko; Matt Moore; Neil Sinha; Darren Hanwell; Adam Zecharia; Jane Glancy; Megan Lawrence; Hannah Gates; Nick Hallam; Alice Smith; Dominique Crowley; Gordon Houseman; Shameer Shah


Les références

‘Very strong execution, technical knowledge, very responsive and good at negotiation.’

At the forefront of the market in terms of technology and terms.’

Commercially minded, technical lawyers but know how to interact with clients i.e. deal with more technical legal points between lawyers, can explain and understand commercial implications for clients.’

Principaux clients

Ardian


Bridgepoint


Brookfield


CVC Capital Partners


Exponent Private Equity


Galileo Global Education


Hg Capital


PAI Partners


Providence Equity Partners


Waterland Private Equity


Principaux dossiers


Clifford Chance LLP

Drawing on 'huge market knowledge' and extensive international resources, Clifford Chance LLP remains a compelling proposition for creditors and debtors on big-ticket and complex leveraged and event-driven deals.  Although the firm has gained market traction among credit funds, its strong and longstanding commercial/investment bank relationships continue to inform much of the deal flow, both in the leveraged market, as well as on corporate-led M&A deals. Emma Folds is one of many experienced partners in the team who is conversant with debt structures throughout the capital structure, deploying this knowledge to good effect across a range of transactions, running the gamut from sponsor-driven leveraged deals, through to restructurings and corporate lending mandates. In addition, along with Michael Bates and Julia House, she is also well-versed at handling infrastructure finance transactions. Dual UK and Sweden-qualified partner Peter Dahlen has strong knowledge of leveraged finance transactions, utilising both bank and credit fund-sourced debt, and has a particular niche advising on Nordic deals. While lender work remains the lifeblood of the practice, under the guidance of Taner Hassan, the firm also continues to handle a considerable volume of significant private equity-led cross-border leveraged finance matters. Hassan co-heads the overarching banking and finance team alongside David Robson, whose lender-focused practice includes both leveraged and M&A financings.

Responsables de la pratique:

David Robson; Taner Hassan


Autres avocats clés:

Michael Bates; Peter Dahlen; Emma Folds; Jim MacHale; Nicholas Kinnersley; Thomas Critchley; Alexandra Dimsdale-Gill; Julia House; Richard Day


Les références

‘Huge market knowledge and very well set up to support banks.’

The firm provides a very slick service, everything you need is provided without having to ask for it.’

Julia House is a rising star in the infrastructure financing sector, who guided a large syndicate of banks through a very complicated infrastructure acquisition financing this year, combining expert advice, commercial pragmatism, slick delivery and good humour.’

Principaux clients

Cinven


Jaguar Land Rover


Apera Capital


Macquarie


BAML


Morgan Stanley


NatWest


EQT


Telefonica


Principaux dossiers


  • Advised a global investment company in relation to its acquisition of Element Materials Technology Group (which generates annual revenues of c. USD 1 billion). The debt comprised a first lien TLB, acquisition and capex line and RCF; second lien debt; and holdco PIK. It included both EUR and USD currency tranches, with syndication out of London and New York.
  • Advised Cinven and True Potential Group Limited (a technology-led wealth management company) on the financing for Cinven’s acquisition of True Potential, including a £675m bridge facility, which was refinanced through the issuance of sterling and euro senior secured notes, and a £100m revolving credit facility.
  • Advised the mandated lead arrangers on the financing of Macquarie Asset Management and BCI’s investment in National Grid’s gas transmission and metering business.

Kirkland & Ellis International LLP

Under the leadership of the ‘vastly experienced and talented’ Stephen Lucas, Kirkland & Ellis International LLP has firmly positioned itself at the pinnacle of the leveraged finance market for an entirely sponsor-focused client base. Unencumbered by any banking ties, the team has been able to ‘push very aggressively’ on behalf of its borrower clients, enabling them to access pools of capital in spite of the periodic closures of the syndicated loan market. Christopher Shield is the lead relationship partner with a number of the largest and most active sponsors in the market, including Bain Capital and Advent, advising both on a raft of cross-border LBOs, as well as in relation to liability management issues. English and New York-law qualified partner Evgeny Zborovsky‘s broad practice covers both mid and large-ticket mandates, with his dual qualifications adding an enhanced level of versatility and a deeper understanding of the implementation of US terms in the European market. Other recommended partners include the ‘proactive and extremely professional’ Kirsteen Nicol, whose experience includes significant knowledge of syndicated and credit fund lending; Daniel Borg, whose cross-border expertise includes large take-private mandates, LBOs and bolt-on acquisitions; and James Boswell, for acquisition infrastructure finance matters. Neel Sachdev left to launch the English law practice at Paul Weiss in summer 2023 alongside partners including fellow banking specialist Kanesh Balasubramaniam.

Responsables de la pratique:

Stephen Lucas


Autres avocats clés:

Christopher Shield; Kirsteen Nicol; Daniel Borg; James Boswell; Evgeny Zborovsky; Vanessa Xu


Les références

They push very aggressively on terms for their clients.’ 

Stephen Lucas is vastly experienced and talented.’ 

Kirsteen Nicol is proactive, independent and extremely professional.’

Principaux clients

Accel-KKR


Advent International


Antin Infrastructure Partners


Apax Partners


Bain Capital


BC Partners


Blackstone Inc.


CapVest Partners


Cinven


CVC Capital Partners


Groupe Bruxelles Lambert


Hg


Lone Star Funds (Hudson Advisors)


Partners Group


SK Capital


Summit Partners


TA Associates


Thoma Bravo


Vitruvian Partners


Principaux dossiers


  • Advised Accel-KKR and its consortium partners on the financing for the Finnish take private of Basware Corporation by way of a voluntary recommended public cash tender offer. This deal was one of the first P2Ps in Finland to be funded with private debt.
  • Advised Thoma Bravo on the financing for the Norwegian take private of Mercell Holding by way of a voluntary cash offer. The financing comprised a Unitranche and Super Senior RCF. This deal is a further example of Kirkland’s acquisition finance expertise in the Nordic take private market and underscores our cross-border credentials.
  • Advised Groupe Bruxelles Lambert on the financing for the acquisition of Affidea. The financing comprised a TLB and RCF.

Latham & Watkins

The versatile and balanced practice at Latham & Watkins has the strength-in-depth to handle a tremendous volume and range of work for creditors and debtors funding acquisitions utilising debt from the thriving private credit and the syndicated/institutional investor markets. Consequently, the firm, which also has broad international resources in Europe and its US headquarters, has an excellent perspective of market norms and “pinch points” from both sides of the table, and  in the recent volatile market has been a welcome ‘oasis of knowledge’ for lenders and sponsors. Stephen Kensell and Sam Hamilton are two of the most well-respected practitioners in the market, with Kensell providing succour to lenders providing debt to both corporates and sponsors on their M&A activity, and Hamilton drawing on a wealth of experience for sponsors across myriad finance products. Dominic Newcomb and Jayanthi Sadanandan  are also both highly skilled at handling borrower work, with both sponsors and corporates benefiting from their wealth of knowledge on funding solutions throughout the capital structure. On the creditor front, Dan Maze  has strong traction for banking and credit fund clients, as does Manoj Bhundia.  Tania Bedi , whose versatile client base includes banks, funds and corporates, co-heads the overarching finance team alongside Maze. Joseph Kimberling is also recommended. A four-strong team of lawyers including  Mohamed Nurmohamed  and Ross Anderson left for Paul Hastings LLP in summer 2022.

Responsables de la pratique:

Tania Bedi; Dan Maze


Autres avocats clés:

Charles Armstrong; Sam Hamilton; Joseph Kimberling; Dominic Newcomb; Fergus O’Domhnaill; Jay Sadanandan; Ben Wright; Manoj Bhundia; Stephen Kensell; Ross Pooley; Hendrik Smit


Les références

‘The team is an oasis of knowledge across a range of debt finance products.’

‘What makes Latham unique is the breadth and depth of the firm’s capabilities and expertise, and how efficiently they bring these capabilities to bear for a transaction. We worked with Latham on a complex, cross-border debt and equity financing…the team’s debt experts were able to come up with a unique strategy to efficiently get security on assets in key jurisdictions, and were also able to creatively engineer our complex structured instrument. Latham also brought in its tax experts to advise extensively, which was critical to the structuring of a complex, cross-border financing. Latham had an answer for everything, and did it in a coordinated, efficient manner’

‘Hendrik Smit was an absolute pleasure to work with. There was no problem he couldn’t solve, and no matter how complex the transaction became, he was never discouraged, maintained the same positive can-do attitude, and always came up with an elegant solution.’

Principaux clients

Goldman Sachs


JP Morgan


Bank of America


Barclays


BNPP


Morgan Stanley


Deutsche Bank


Blackstone Credit


Ares Management


HSBC


KKR Asset Management


Astorg Partners


Nordic Capital


Brookfield Asset Management


Partners Group


CVC


Bridgepoint


Platinum Equity


Onex


EQT Partners


TA Associates


Ares Management Ltd


Energy Capital Partners


Principaux dossiers


Linklaters LLP

Drawing on expertise across pure leveraged finance, corporate lending, structured finance and restructuring, the ‘extremely efficient and collaborative’ team at Linklaters LLP provides ‘high-quality work’ across the full range and life cycle of financial transactions to banks, funds and investment grade corporates. This versatile and holistic approach ensures that it is ‘able to deliver at an extremely high level on a hugely complicated breadth of transactions’, running the gamut from bank and bond structures, and TLBs, through to unitranche facilities and PIK financings. The ‘highly commercial’ Oliver Sceales  has deep traction among sponsors, which are appreciative of his ability to ‘deliver market leading terms in an incredibly user friendly and dynamic fashion’. Lauded for his ‘commercial acumen and constructive approach’, Pathik Gandhiis well respected by the lender community’, ensuring that he is a popular choice both on leveraged finance deals, where he is instructed bank side, as well as where the lender is a counterparty. Chris Medley excels in providing lender side advice on sponsor-backed leveraged deals, both for banks on large underwritten TLB transactions, as well as for credit funds on unitranche financings. Other recommended practitioners include seasoned banking lawyer Nick Syson , whose work at the vanguard of the market has included the development of the now well-established European cov-lite leveraged loan product; Rohan Saha, for his work across products for banks and credit funds; and David Irvine, who co-heads the leveraged finance practice alongside Sceales.

Responsables de la pratique:

David Irvine; Oliver Sceales; Toby Grimstone; Oliver Edwards


Autres avocats clés:

Nick Syson; Chris Medley; Andrew Jennens; Pathik Gandhi; Rohan Saha; Angus Graham; Thomas Waller; James Martin; Ian Callaghan; William Evans; Caroline Courtney; Sam Mahboubian; Jo Jimenez; Daniel Peach; Tarini Wettimuny; Nikhita Suria; Lizanne Blair; Atish Shah; Shao-Ling Angoh


 


Les références

‘This  extremely efficient and collaborative team provides high-quality work.’

‘They are able to deliver at an extremely high level on a hugely complicated breadth of transaction structures, timelines and negotiating dynamics.’

‘They are a market leading practice – technically excellent, powerfully commercial and extremely responsive.’

Principaux clients

Apollo


Arcmont


Bank of America


Barclays


BNP Paribas


Brookfield


Carlyle


Cerberus


Citibank, N.A.


Credit Agricole


CVC


Deutsche Bank


Goldman Sachs


Goldman Sachs PE


Hayfin


Hg


Hillhouse


HSBC Bank Plc


J.P. Morgan


MUFG Bank, Ltd.


PAI


Triton


Principaux dossiers


  • Advised the arrangers, bookrunners and lenders on the €2,075m cov-lite TLB senior financing, €375m revolving credit facility and €470m second lien financing supporting CVC’s acquisition of Ekaterra B.V. from Unilever.
  • Advised Aristocrat Leisure Limited (Aristocrat) in relation to the financing of its recommended cash offer for the entire issued and to be issued ordinary share capital of Playtech plc.
  • Advised Citi and Société Générale as joint underwriters, mandated lead arrangers and bookrunners on a £4.1bn acquisition bridge facility for Schneider Electric SE.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP remains a very popular choice for its strong and loyal private equity client base, which are appreciative of the firm’s ability to elicit the most favourable terms, utilising the full spectrum of financial products, from bank and bond financings through to unitranche facilities. Clients also benefit from the team’s deep knowledge of US-style documentation, with New York-qualified practitioners in London well-placed to advise on European terms which increasingly mirror those more typically found in the US leveraged market. Although the firm’s mainstream leveraged finance work has suffered something of a dip in volume levels, particularly on high-value bank and bond financings, the team – as well as handling a significant volume of liability management work – has also been well hedged by virtue of its prowess working on infrastructure financings. Shahpur Kabraji is the key name to note. Former practice head Ian Barratt and partner Sinead O’Shea left in October 2023.

Autres avocats clés:

Shahpur Kabraji


Principaux clients

AlpInvest


Apax Partners


Aston Martin Lagonda


Blackrock


Blackstone Capital Partners


Blackstone Infrastructure Partners


Blackstone Real Estate Partners


Bridgepoint


Bruin Capital


Carlyle


Cinven


CVC


Equitix


Flutter Entertainment


FSN Capital


Goldman Sachs


Greyhound


Hedosophia


H.I.G. Capital


Intertrust


InvestIndustrial


J.P. Morgan


Kohlberg Kravis Roberts & Co.


KSL


Lone Star


Oakley


Silver Lake Partners


Stonepeak Partners


TDR Capital


Trill Impact


Voyage Care


Principaux dossiers


  • Represented  KKR on the unitranche financing for its acquisition of APRIL Group, including in excess of €1bn of new debt facilities.
  • Represented Edizione and Blackstone Infrastructure Partners on the financing for their acquisition of Atlantia, with an enterprise value of approximately €58bn, pursuant to a public takeover transaction.
  • Representing MasMovil (including its shareholders KKR, Cinven and Providence Equity) and the joint venture co-controlled by Orange and MasMovil on the financing for the announced combination of MasMovil and Orange Spain.

Weil, Gotshal & Manges (London) LLP

Drawing on deep product knowledge throughout the capital structure and taking on instructions from a balanced roster of debtor and creditor-side clients across the spectrum of deal sizes, Weil, Gotshal & Manges (London) LLP‘s banking practice has maintained strong deal flow in spite of the economic and geopolitical headwinds facing the market. On the borrower front, Tom Richards  has strong ties with many large private equity sponsors, including Advent and Bain Capital, which are appreciative of his willingness to fight their corner on deals whether or not the firm itself was involved in the underlying corporate aspects of the M&A. On the lender side, as well as her deep connections with commercial/investment banking clients, Reena Gogna has also successfully broadened her practice to include work for a myriad of private credit funds. Other recommended practitioners include Alastair McVeigh, for credit fund work, and Paul Hibbert for infrastructure finance, as well as practice co-head Chris McLaughlin.

Responsables de la pratique:

Chris McLaughlin; Tom Richards; Reena Gogna


Autres avocats clés:

Paul Hibbert; Paul Stewart; Alastair McVeigh


Principaux clients

Bain Capital


Advent International


Ardian


Montagu


A&M Capital Europe


OMERS


Permira


CVC


PAI Partners


Ontario Teachers’ Pension Plan


Sculptor Capital


Ares Management


Arcmont


Alcentra


Apollo Management


Goldman Sachs


PSP


KKR


Mudrick Capital


Permira/Permira Credit


HPS


Principaux dossiers


Milbank

Led by the ‘astute and tenaciousSuhrud Mehta, the ‘very knowledgeable’ team at Milbankhas a good understanding of the market’ across both bank and bond financings, as well as on direct lending products. Consequently, it is a popular choice among leading banks (UBS and Goldman Sachs) and credit funds (KKR Credit and CVC Credit), where it is appreciated for its European and US high yield and loans expertise, in particular. Sarbajeet Nag continues his upward trajectory in the market, and is noted for his technical and commercial nous for lenders utilising debt products throughout the credit spectrum to facilitate sponsor-backed and corporate-led acquisition finance deals. As well as her conventional leveraged finance prowess, Alexandra Grant is well regarded for infrastructure financings.

Responsables de la pratique:

Suhrud Mehta


Autres avocats clés:

Alexandra Grant; Sarbajeet Nag; Laura Bonamis


Les références

‘The professional team is very knowledgeable and has a good understanding of the market.’

It is a very impressively built team covering bank and bond products and has good market penetration.’

‘An astute and tenacious operator, Suhrud Mehta is on top of current market trends.’

Principaux clients

Goldman Sachs


Bank of America


Barclays


UBS


BNP Paribas


Citigroup


Credit Suisse


RBC / NatWest


Jefferies


SoftBank


Park Square


KKR Credit


Carlyle Credit


HPS


CVC Credit


Principaux dossiers


  • Advising lenders providing the debt financing package in support of Bain Capital’s joint ownership agreement for Fedrigoni with BC Partners.
  • Advising the financing sources on Brookfield Infrastructure’s £4bn acquisition of Homeserve plc.
  • Advising the lenders on Energy Capital Partners £1.3bn acquisition of Biffa plc.

Paul Hastings LLP

Paul Hastings LLP has been on upward trajectory in the leveraged finance market for the last decade, with a series of astute recent hires reaching its apogee in 2022 with the recruitment of a team of high-profile finance lawyers from top-tier outfit Latham & Watkins. Consequently, the firm now has the critical mass and product knowledge, particularly in the big-ticket lender side bank and bond market (where it is well-versed in advising on European and US-style documentation), to provide a truly credible alternative to its magic circle and white shoe US firm competitors. The team is jointly chared by Ross Anderson and Mohamed Nurmohamed, who are both able to draw on significant cross-border leveraged finance experience across a diverse array of financial products. Former practice co-head Luke McDougall  left the firm in May 2024.

Responsables de la pratique:

Mo Nurmohamed; Ross Anderson


Autres avocats clés:

Karan Chopra; Peter Hayes; Rob Davidson


Les références

Top breadth and depth. One of the best in the market.’

‘Great ability to pin-point only the items that matter.’

 

Principaux clients

Goldman Sachs


Bank of America Merrill Lynch


Morgan Stanley


Credit Suisse


Deutsche Bank


Sixth Street


KKR


JP Morgan


Ares


Barings


HSBC


Barclays


Golub


Jefferies


CVC Credit


Apollo


BNP Paribas


Nordea


Pemberton


Principaux dossiers


  • Acted for 12 banks and six funds delivering a capital structure comprising a senior secured TLB and RCF, privately placed SUNs, PIK notes and preference shares, totaling around $2.3bn in connection with Advent/Cobham’s public-to-private acquisition of Ultra plc.
  • Advised 12 banks on a €1.15bn bank underwritten first lien financing and four funds on a €265m privately placed second lien facility for the purchase by Advent International, of Caldic BV  from Goldman Sachs Asset Management (GSAM), and the simultaneous merger of Caldic with Advent’s portfolio company, Grupo Transmerquim S.A.
  • Represented Mizuho, as fronting bank, and Kroll, as agent, in relation to an incremental facility to the senior facilities agreement entered into in connection with Advent Fund 8’s acquisition of Mediq.

White & Case LLP

The ‘very responsive’ team at White & Case LLP has ‘strong expertise in leveraged finance’ for lenders and borrowers, which are appreciative of its versatility structuring deals utilising debt throughout the capital structure, including US/UK financings. The ‘exceptional’ Jeremy Duffy has excellent traction among core firmwide banking clients, including Deutsche Bank, which he has recently advised on the debt financing to facilitate several separate data centre acquisitions. The ‘very approachable and knowledgeable’ Richard Lloyd is well-versed in a range of debt products, including bank/bond, syndicated and second lien, and regularly works alongside Duffy on key bank-side cross-border leveraged finance transactions. Under the guidance of UK and US-qualified partner Gareth Eagles, the team has also established a market-leading offering on the direct lending front for leading fund clients including CVC Credit and Bridgepoint Credit. Martin Forbes takes the lead on much of the most significant borrower-side work, primarily on behalf of private equity sponsors. In February 2024, Anthony Tama joined the team following his departure from Cahill Gordon & Reindel LLP.

Responsables de la pratique:

Colin Harley; Jeremy Duffy; Gareth Eagles; Martin Forbes


Autres avocats clés:

Chris Czarnocki; Emma Foster; James Hardy; Richard Lloyd; Shane McDonald;  Nicola Chapman; Catherine West; Oliver Trotman; Man Hay Yip; Prema Govind


Les références

‘The team is very responsive.’

‘The team has strong expertise in leveraged finance, great accuracy in drafting and ability to arrange workflows also for other parties at the table.’

‘They have a fantastic knowledge of leverage finance, real estate finance, infrastructure and data centre.’

Principaux clients

Apollo Global Management


Afreximbank


Africa Finance Corporation


AGP Group


ASK Chemicals Group


Ali Group


Bridgepoint Credit


Credit Suisse


CVC Credit


Deutsche Bank


DNB Bank ASA


Goldman Sachs


Jefferies


JP Morgan


Nordea Bank


Puma Energy International


Royal Bank of Canada


Santander


SEB


Societe Generale


Sumitomo Mitsui Banking Corporation


Natixis


UBS


N+P Beheer B.V.


Ocorian Limited


Triton Investment Management Limited


The Carlyle Group


Inflexion Private Equity Partners


CVC Capital Partners


Puma Energy


Oaktree Capital Management


Principaux dossiers


  • Representation of Ali Group in connection with its $4.8bn acquisition of Welbilt, Inc., a US public company.
  • Representation of Triton Investment Management Limited on the £775m financing to facilitate the £1.2bn recommended takeover offer for Clinigen Group plc.
  • Advised Ares Management and SEB, as lenders, in relation to Nordic Capital’s and CVC Funds’ public-to-private acquisition of Cary Group, a Nasdaq Stockholm listed company.

Ashurst

Drawing on longstanding banking relationships and the strength of its position as an early mover in the credit fund market, Ashurst is well-placed to provide ‘pragmatic and efficient’ advice to lenders providing liquidity to corporates and sponsors within the mid-to-upper-mid-market acquisition finance market, in particular. Ross Ollerheadgets what lenders care about’ and has been pivotal to the firm’s strong standing in the private credit field, gaining a foothold with many funds, including BlackRock and Pemberton, on both new money situations, as well as in a distressed scenario. ‘Top finance lawyer’ Doug Murning provides ‘very market-savvy’ advice to credit funds on both pure LBO mandates, as well as in special situations, work which he combines with a niche net asset value (NAV) lending offering. Laura Hohas strong technical skills and displays a balanced approach’ for both credit funds as lenders, as well as for a sponsor-focused client base on infrastructure finance deals. Newly appointed London office managing partner Helen Burton and senior partner Nigel Ward are also hugely experienced practitioners within the team. Mark Edwards  heads the overarching banking team.

Responsables de la pratique:

Mark Edwards


Autres avocats clés:

Doug Murning; Helen Burton; Nigel Ward; Laura Ho; Ross Ollerhead; Tamsin Crawford; Nicholas Jupp


Les références

The team is really responsive, pragmatic and efficient.’

It is a very joined up team that is on top of market terms and well-thought of by counter parties.’

Top finance lawyer Doug Murning is very market-savvy and fights your corner.’

Principaux clients

Agilitas Private Equity


Amalfi Bidco Limited


Apollo


Arcmont Asset Management


Avenue Capital


AVEVA Group plc


Bain Capital Credit


Barings Asset Management


BlackRock


Canadian Imperial Bank of Commerce


Crescent Capital Group, L.P.


Davidson Kempner


HayFin


HSBC


ICG


JP Morgan


KKR


LGT


National Australia Bank


Pemberton


Permira Debt Managers


RBS


RPC


Symphony Technology Group


Tresmares Capital


Principaux dossiers


  • Advising Amalfi Bidco Limited in relation to its recommended cash and share acquisition of the entire issued and to be issued share capital of CareTech Holdings PLC.
  • Advising the Midco underwriters supporting Infrastructure Investments Fund, an investment vehicle advised by J.P. Morgan Asset Management, on its c. $4bn acquisition of G+E GETEC Holding GmbH
  • Acting for Arcmont Asset Management, Goldman Sachs, KKR and Tresmares Capital on the senior secured and PIK holdco financing of the acquisition of esPublico Servicios para la Administracion, S.A., by Groupesp Holdings, S.L.U. (backed by TA Associates).

Dechert LLP

Following the recent retirement from the partnership of John Markland, Dechert LLP‘s work for its fund-focused client base focuses almost entirely on their role as lenders on acquisition finance mandates. In this context, practice co-heads David Miles  and Philip Butler  have a ‘great depth of knowledge’, having been involved from the earliest days of the growth of the product, with both capable of handling a range of deals across sectors and quantum for key clients including Ares and Barings. Clients are also appreciative of the overarching ‘team dynamic’, as well as the ‘ability to bring in resources and expertise from other areas of the firm as needed during the course of a transaction’. Smridhi Gulati joined Cadwalader, Wickersham & Taft LLP in April 2023.

Responsables de la pratique:

Philip Butler; David Miles


Autres avocats clés:

Giles Belsey; Sarah Moffat; Bishoy Eskander


Les références

‘We trust the Dechert team with our most complex transactions. Their ability to bring in resources and expertise from other areas of the firm as needed during the course of a transaction is invaluable.’

‘The depth of knowledge of the partners and their ability to foresee potential issues and tackle them up front are key.’

The team dynamic is excellent and we are routinely impressed by how capable and knowledgeable the senior associates and associates are.’

Principaux clients

Ares Management Limited


Baring Asset Management


CVC Credit Partners


Blackstone Credit


BlackRock


Kartesia


Tikehau


Alcentra


Apollo Asset Management


Permira Credit


LGT Private Debt (UK) Limited


Metric Capital


Cordet Capital


Principaux dossiers


  • Acted for Ares Management in connection with its provision of debt funding to support the acquisition of Butlins Skyline Limited by Zenit (Bidco) Limited (a newco formed by the Harris family) from Bourne Leisure Limited (a Blackstone portfolio company).
  • Represented longstanding client Barings on the funding to support the acquisition of a majority stake in the CitNOW Group by Livingbridge.
  • Advised Kartesia on their provision of debt facilities to a newly incorporated entity (SPV) wholly owned by HIG P.E. to finance the SPV’s acquisition of CPS Building Services.

Hogan Lovells International LLP

The ‘extremely approachable and knowledgeable’ team at Hogan Lovells International LLP provides ‘exceptional client service’ to a creditor-focused client base that includes a high proportion of credit funds engaged in lending within the mid to-upper-mid market. Team head Paul Mullen  has been instrumental to the firm’s growth in this area, and his broad transactional nous, that includes expertise across a range of direct lending products, means the firm is also regularly instructed to advise clients on developing new and innovative products in the market. Jo Robinson  also has significant experience in the space, particularly in relation to the unitranche product, as does the ‘very user friendly’ Francis Booth. The firm also continues to handle work for conventional banks, with vastly experienced practitioners Penny Angell  , who also serves as UK managing partner, and Matthew Cottis  particularly skilled in relation to the financing of regulated insurance companies.

Responsables de la pratique:

Paul Mullen


Autres avocats clés:

Matthew Cottis; Penny Angell; Jo Robinson; Francis Booth; Scott Gibson


Les références

Extremely approachable and knowledgeable. Strong ability to distil more complex legal points in to more simple explanations.’

Strong commercial acumen and willing to tell us as clients when to push harder, and understanding of counterparties to get the best deal for us.’

‘Exceptional client service is provided by everyone from the London managing partner down; vastly experienced and thoroughly professional. I could not rate them highly enough.’

Principaux clients

HSBC


Ares Management


Macquarie


Intermediate Capital Group


Five Arrows


Ardian


Tikehau Investment Managers


Park Square Capital


Principaux dossiers


  • Advising Ares Management as lender on the £790m financing for a consortium of the CareTech founders and Three Hills Capital Partners to acquire CareTech Holdings plc.
  • Advising AshGrove as lender in relation to term facilities provided to Zift in connection with its refinancing of existing indebtedness and advising in relation to the roll-through of the AshGrove facilities on the acquisition of Zift by Investcorp.
  • Advised Ares as new lender to Sykes Cottages group for the refinancing of existing facilities provided by Bridgepoint Credit (formerly EQT) and the acquisition of the Forest Holidays group .

Macfarlanes LLP

Fund instructions form much of Macfarlanes LLP‘s acquisition finance work, whether it be work for credit funds lending to sponsors, or private equity funds as borrowers in M&A. In this context, the firm also benefits from a one-stop-shop service, having in some cases set up the original fund through its strong fund formation practice. Drawing on ‘superb legal knowledge and experience’, Malcolm Hitching has ‘the ability to think creatively and commercially’, ensuring that mid-market sponsors receive an excellent service on their leveraged finance mandates. Kirstie Hutchinson is also highly accomplished on behalf of fund clients as borrowers, while team head Andrew Perkins takes the lead in most of the firm’s most significant credit fund lender work.

Responsables de la pratique:

Andrew Perkins


Autres avocats clés:

Kirstie Hutchinson; Malcolm Hitching; Adam Caines


Les références

‘Their in-depth knowledge of the law on financial services is exceptional. They are client-oriented and pragmatic.’

‘Very strong people – the team is good at cross collaboration and bringing in the expertise you need from different parts of the firm as and when needed.’

‘Malcolm Hitching is a legal legend and a leader by example. He has an eye for detail, superb legal knowledge and experience.’

Principaux clients

PJT Partners LP


PSG Equity LLP


Angel Finco Limited


Preservation Capital Partners


Arcus European Investment Manager LLP


Gates Bidco Limited


Exponent


Isio Group Limited


August Equity


Alpha Bidco Limited


Principaux dossiers


Proskauer Rose LLP

Focused almost entirely on private credit fund-related work, the ‘highly experienced and commercial’ team at Proskauer Rose LLP has developed a market-leading offering for very active funds, including Ares and Alcentra, which are appreciative of its ‘ability to know when to push and when not to push depending on deal dynamics and the counterparties involved’. Although mid-market financings remain the cornerstone of the practice, it has successfully followed its clients, some of which are writing increasingly bigger cheques to facilitate M&A extending into the upper-mid-market and beyond. This was recently exemplified by the ‘attentive and commercial’ Alexander Griffith‘s and Harriet West ‘s advice to Ares on the financing for the “take-private” acquisition by Epiris and Astorg of Euromoney Institutional Investor plc. Faisal Ramzan co-heads the team alongside Griffith and is noted for his expertise at handling complex domestic and cross-border transactions, often involving multiple tranches of debt. Daniel Hendon  is also recommended. Ben Davis joined Eversheds Sutherland (International) LLP in July 2023.

 

 

Responsables de la pratique:

Alexander Griffith; Faisal Ramzan


Autres avocats clés:

Barry Newman; Daniel Hendon; Harriet West; Charlotte Boylin; Phil Anscombe


Les références

‘The team is highly experienced in advising debt funds and has worked on several transactions for us. This is a broader and stronger team than most practices. It also has a positive culture and is enjoyable to work with.’

‘It is a large team predominantly focused on private credit funds, and therefore has a strong knowledge of market terms given its deal flow.’

The team is commercial and has the ability to know when to push and when not to push depending on deal dynamics and the counterparties involved.’

Principaux clients

Adams Street


Alcentra


Apera Asset Management


Apollo


Arcmont Asset Management Limited


Ardian


Ares Management


Ashgrove Capital


Bain Capital Credit


Barings


BlackRock


Blackstone Credit


Bridgepoint Credit


CDPQ


Cheyne


CORDET Capital


Crescent


First Eagle


General Atlantic Credit (formerly known as Atlantic Park)


GIC


Golub Capital


Goldman Sachs International


HarbourVest


HayFin


HPS (Highbridge)


ICG


Kartesia Management


KKR Credit


LGT


MidCap (part of Apollo)


M&G Investments


Monroe Capital


Muzinich & Co


Park Square


Pemberton


Phoenix Investments


Sixth Street Partners


Three Hills (THCP Advisory Limited)


Tikehau Investment Management


Principaux dossiers


  • Advised Ares Management on the provision of approx. £1.7bn in financing for the “Take-Private” acquisition by Epiris and Astorg of Euromoney Institutional Investor plc.
  • Represented General Atlantic Credit (whose investment strategy is to provide strategic partnership capital across both debt and equity structures) and GIC (a sovereign wealth fund in Singapore that manages its foreign reserves), in providing a bespoke €550m convertible loan agreement, which will mandatorily convert into ordinary shares of Cheplapharm AG (a leading German pharmaceutical company that markets branded drugs, medical products, supplements and cosmetics).
  • Represented Goldman Sachs, a global leading investment lender, which supported TA Associates in the issuance of further PIK and senior financing (approx. €333m (with upsizes)) to support bolt-on acquisitions to be made by the Nactarome Group.

Addleshaw Goddard

Leveraging its well-established ties with clearing banks, as well as a number of alternative capital providers and private equity sponsors, Addleshaw Goddard has an excellent understanding of the requirements of both borrowers and lenders, which they are well-placed to assist on the financing of mid-market deals both from London and its regional offices. Team head Alex Dumphy  is well-versed at structuring deals utilising debt throughout the capital structure, including senior debt facilities, unitranche funding, TLB facilities and super senior facilities. The team is also able to leverage the firm’s market-leading asset based lending (ABL) prowess to good effect, with ABL debt products increasingly being used alongside conventional leveraged debt products to fund M&A transactions.

Responsables de la pratique:

Alex Dumphy


Autres avocats clés:

Peter Crichton; Ewen Scott; Cerys Poolis


Les références

‘Extremely informed, very easy to deal with and always get partner access. Relative to their peers they are much more proactive in offering advice instead of us coming up with a solution.’

‘Ewen Scott and Alex Dumphy are at the “top end” of their profession. Both are excellent lawyers and two of the best in the mid-market leveraged finance space.’

‘We use them a lot and we believe AG are extremely good value for money. Not just through the price point, but the quality of support/advice associated with it. ‘

Principaux dossiers


Baker McKenzie

Drawing on deep knowledge across the spectrum of English and New York law-governed loans and bonds, including TLB, direct lending (both unitranche and US private placements) and high-yield bonds, Baker McKenzie‘s ‘highly engaged’ team is well-positioned to represent lenders and borrowers across a range of cross-border leveraged finance deals. Although the firm was weakened somewhat on the direct lending front following Matthew Smith‘s departure in April 2022 to Cadwalader, Wickersham & Taft LLP, this was offset by the arrival in March 2023 from Orrick, Herrington & Sutcliffe (UK) LLP of Anthony Kay, whose broad leveraged finance practice includes some credit fund work. Ben Wilkinson is particularly effective at advising investment banks on cross-border acquisition finance deals with complex capital structures and has significant experience in transactions with a Nordic and German complexion. On the borrower front, Nick O’Grady  is ‘an extremely competent acquisition finance lawyer’, as is the ‘extensively experienced’ Matthew Cox , who co-heads the team alongside Wilkinson.

Responsables de la pratique:

Ben Wilkinson; Matthew Cox


Autres avocats clés:

Nick O’Grady


Les références

‘The team is highly engaged and committed to projects but also good humoured and a great interface to work with, even when facing challenges on a deal.’

‘Nick O’Grady is an extremely competent acquisition finance lawyer. He is  safe pair of hands who can be trusted to take care of everything but also knows which key points to raise with the sponsor for their input and sign-off on.’

‘Matthew Cox is extensively experienced in the industry and provides a higher level of advice and guidance to clients. He has the seniority and gravitas to step in when needed and drive solutions when negotiations risk reaching deadlock.’

Principaux clients

Bain Capital


FSN Capital


KKR


One Equity Partners


Keensight Capital


Top-tier mid-market infrastructure investment firm (the “Sponsor”)


Oceans Finance Company


Six Degrees Holdings


H.I.G. Capital


Bain Capital MKM


Principaux dossiers


  • Advised Nordic sponsor FSN Capital Partners in connection with the partial refinancing of the €650m senior debt TLB debt financing used for FSN’s acquisition of Optigroup, Hygas and affiliates TPC and BFG (i.e. four acquisitions packaged into one), by way of the establishment of a new €200m second lien facility, provided by a single private credit fund, which refinanced some of the TLB.
  • Advised Keensight Capital on the financing to facilitate its acquisition of Bedford Consultancy.
     
  • Advised One Equity Partners (through its portfolio company Trustmarque) on the financing to facilitate its acquisition of leading UK software and cloud assets tech firm Livingstone Software.

Cahill Gordon & Reindel LLP

Under the leadership of Jonathan Brownson the ‘very knowledgeable’ team at Cahill Gordon & Reindel LLP displays ‘excellent commercial acumen’ on behalf of a lender focused client base that includes many leading investment banks. Although it remains relatively new in the market and despite challenging conditions, it has already made strong in-roads into large ticket deals, which require an effective combination of underwritten loans and high yield bonds. Joydeep Choudhuri has also been key to the firm’s early success as a result of his versatile finance offering, which includes work for conventional banks (including on bridge to bond and super senior revolving credit facilities), as well as a direct lending mandates for credit funds. Anthony Tama left the team in February 2024.

Responsables de la pratique:

Jonathan Brownson


Autres avocats clés:

Joydeep Choudhuri; Prue Criddle; Warren Newton


Les références

‘The team is very knowledgeable and displays excellent commercial acumen.’

They have a good bench of experienced lawyers.’

Principaux clients

UBS


Nomura Holdings


Natixis


Standard Chartered Bank


Unicredit


Mediobanca


PSP Investments


CVC Credit


Hayfin Capital Management LLP


Apollo Credit


ICG Capital


Barings


Blackrock


Bridgepoint Credit


GIC


Guggenheim Partners


Pemberton Asset Management


Crescent Capital


Fallaron Capital


JPMorgan


Citigroup


BNP Paribas


Citizen’s Bank, N.A


Petroleum Geo-Services AS


Deutsche Bank


Credit Suisse


HSBC


Jefferies


Carlyle Credit


Bridgepoint Credit


Park Square Capital


AlbaCore Capital


Sona Asset Management


Bank Santander


National Westminster Bank


KKR Capital Markets


IHS Holding Limited


Nordea


SEB


Partners Group


Danske Bank


Principaux dossiers


  • Represented the lead arrangers and financial providers on the €600m senior secured bridge facility, revolving credit facility and term loan facility in connection with the acquisition by Apollo of Primafrio Corporation.
  • Represented the lead Arrangers in connection with the term loan and revolving credit facilities (to be utilized for general corporate, capital expenditure and player acquisition purposes) provided to Chelsea FC, following its acquisition by the Boehly-led consortium, including Clearlake Capital.
  • Represented the mandated lead arrangers in connection with the senior secured term loan facility and revolving credit facility in support of KKR’s acquisition of IVI-RMA.

Debevoise & Plimpton LLP

Drawing on ‘a deep understanding about the needs of private equity firms and their portfolio companies’, the ‘brilliant’ team at Debevoise & Plimpton LLP is a popular choice among borrowers by virtue of its ‘incredible knowledgeable of both bespoke finance arrangements and also the industry’. This manifests itself in the context of the team’s ability to provide a holistic offering to clients, drawing not only from core leveraged finance strength (including on New York and London-law governed products) but also its strong capability handling fund level financings. Alan Davies  and Pierre Maugüé  both regularly handle work for marquee client, Clayton Dubilier & Rice, and co-head the team alongside fund finance expert Thomas Smith .

Responsables de la pratique:

Alan Davies; Pierre Maugüé; Thomas Smith


Autres avocats clés:

Gregg Young; Almas Daud


Les références

‘Sophisticated and commercial advisers with a deep understanding about the needs of private equity firms and their portfolio companies.’

‘It is a fantastic team full of brilliant talent. They are incredibly knowledgeable about both bespoke finance arrangements and also the industry.’

The lawyers are incredibly smart and also down to earth.’

Principaux clients

Clayton Dubilier & Rice


WMG Acquisition Corp.


Charles Taylor Limited / Lovell Minnick Partners LLC


Pret a Manger


Resolution


B&M Retail


Morrisons


Principaux dossiers


  • Advised Clayton Dubilier & Rice (CD&R) on the financing to facilitate its acquisition of Morrisons.
  • Advised CD&R on its leveraged acquisitions of the OCS group and certain UK and APAC entities of the Atalian group to create a global facilities management platform.
  • Acted as borrower counsel and represented Pret in a refinancing of their existing Senior Facilities.

DLA Piper

Drawing on strong and deep relationships with UK banks and borrowers, developed over many years’ engagement in the acquisition/leveraged finance space, both from London and its core regional offices, DLA Piper has significant visibility advising on mid-market deals. In this context, the ‘superb’ Neil Campbell continues to forge strong private equity relationships, while for lender work he is particularly active on tech-related mandates, including in the context of recurring revenue deals. As well as his work for corporates on their general financing needs, Mark Dwyer is also regularly instructed on their acquisition finance requirements and has considerable experience in financing UK public takeovers of listed companies. Toby Barker heads the team.

Responsables de la pratique:

Toby Barker


Autres avocats clés:

Mark Dwyer; Matt Christmas;  Neil Campbell; Richard Normington; Mei Mei Wong; Lilly Alamir; Clara Fong;


Les références

Neil Campbell is superb.’

‘Matt Christmas is extremely approachable and experienced.’

‘Broad experience and strong team with wider global offering.’

Principaux clients

Azrieli Group


Green Mountain


Discovery Communications LLC


Heineken UK


Neqsol Holdings Limited


Workspace Group plc


Philip Morris Inc


Concord Music


Principaux dossiers


  • Advised Azrieli Group, Israel’s largest real estate group, on the refinancing of its $850m acquisition of Norwegian data centre provider Green Mountain, and the financing considerations of Green Mountain’s expansion into the United Kingdom.
  • Advising Concord Music, a leading independent music company, in connection with financing the purchase of the publishing and recorded music catalogues of Phil Collins, Tony Banks and Mike Rutherford, individually and as members of the band Genesis.
  • Acted for Silicon Valley Bank and SVB Capital on senior/mezzanine leveraged acquisition financing provided to recapitalise Rydoo, a leading and innovative expense management system.

Mayer Brown International LLP

Led from London by Stuart Brinkworth and also able to leverage significant European and US resources from across its global network of offices,        Mayer Brown International LLP is well-positioned to represent a borrower-focused client base in cross-border transactions utilising debt throughout the capital structure. Brinkworth is one of several within the team with deep knowledge of direct lending facilities (including unitranche), while the firm's broader structured finance/ABL expertise is also a valuable resource with which to structure complex M&A mandates, adding an increased level of flexibility.

Responsables de la pratique:

Stuart Brinkworth


Autres avocats clés:

Andy Kolacki; Andrew Crotty


Les références

‘Great depth and practical experience that are  helpful not only from a legal perspective but also commercially.’

‘Stuart Brinkworth brings loads of experience that was invaluable.’

Principaux clients

Francisco Partners


Permira


EMK


Principaux dossiers


  • Represented EMK Capital and its Israeli-based portfolio company, Bright Data, on the refinancing of its existing debt facilities and a dividend recapitalisation with a secured term facility provided by Silicon Valley Bank and Investec Bank.

Ropes & Gray LLP

Focused primarily on borrower-side work - particularly in light of ex-Goldman Sachs’ in-house counsel Carol Van der Vorst‘s move to Freshfields Bruckhaus Deringer LLP in September 2022 - Ropes & Gray LLP has deep knowledge in financings centred around both the syndicated public markets and highly structured private markets. As well as handling some work for sponsors, the team continues to regularly advise marquee clients, Altice and Liberty Global, on debt finance raising, including a considerable amount of acquisition finance due to their private equity-like instincts. The 'brilliant' Alex Robb is well-versed across a broad swathe of debt products, from unitranche to European TLB large-cap loans, and is a key member of the team that is headed by UK and New York law-qualified partner Michael Kazakevich.

 

Responsables de la pratique:

Michael Kazakevich


Autres avocats clés:

Alexander Robb; Alexandru Mocanu; Ana Biloglav; Jacob Bennet;Sean Darling; Luwam Mezue


Les références

The integrated practice across the US and UK is excellent.’

‘Alex Robb is a brilliant lawyer. He is fantastic technically, hard working and a clear thinker who delivers transactions under tight timelines with a commercial focus and good humour.’

‘Ropes & Gray has a market leading leveraged finance practice . The integrated practice across the US and UK is excellent.’

Principaux clients

3i


Altice International S.à r.l.


Altice USA


Arsenal Capital Partners


ASB Bank Limited


AtlasEdge


Avista Capital Partners


Bain Capital Credit


Barclays plc


Baring PE Asia


BNP Paribas


Bridgepoint


Bridgepoint Capital Limited


CSC Holdings LLC


Deutsche Bank


GHO Capital Partners


Goldman Sachs


J.P. Morgan


Liberty Global plc


Livingbridge LLP


New Altice Europe B.V. (formerly Altice Europe N.V.)


Permira Credit


Skandinaviska Enskilda Banken (SEB)


TSG Consumer Partners


UPC Holding


Virgin Media O2


XpFibre / XpFibre Network


Principaux dossiers


  • Advised New Altice Europe on a $912m (combined equivalent) financing in connection with acquisitions by XpFibre Holding, a joint venture of Altice France and a consortium of infrastructure investors including OMERS, Allianz and AXA.
  • Advised Velocity Clinical Research, Inc. (a portfolio company of GHO Capital) on the financing (which included $500m of syndicated English law unitranche loan facilities) to facilitate its acquisition of US target Meridian Clinical Research.
  • Advised Baring PE Asia in connection with the debt financing commitments for the $2.7bn acquisition of Tricor Group – a provider of integrated business, corporate and investor services – from Permira.

Skadden, Arps, Slate, Meagher & Flom (UK) LLP

With ‘a great work ethic’, Skadden, Arps, Slate, Meagher & Flom (UK) LLP provides an ‘exceptional service’, frequently working alongside its corporate and private equity practices, on behalf of a debtor-focused client base that includes both corporates and sponsors. ‘Very commercial‘ team head Pete Coultonfights for what matters’ for his clients and is a popular choice on large cross-border leveraged and event-driven financings, often involving complex financing structures. Clive Wells handles some investment grade acquisition financing mandates as part of his wide-ranging finance practice.

Responsables de la pratique:

Pete Coulton


Autres avocats clés:

Clive Wells; Rui (Sese) Qi; Brendan Macreadie; Sebastian FitzGerald


Les références

‘The team has a great work ethic, team spirt, knowledge of the sector and are strong negotiators.’

‘Pete Coulton is a smart guy who fights for what matters and is very commercial.’

‘Pete Coulton and Zoe Cooper Sutton are both exceptional, they have a mastery of the product and how to apply it to an unusual asset class like data centers across various geographies.’

Principaux clients

Harng Central Department Stores


Outokumpu Oyj


UCB S.A.


JDE Peet’s N.V.


Continental Grain Company and Agroberries


SIGNA Group


United Talent Agency


Waldencast Acquisition Corp


SP Plus Corporation


Shareholders of MiQ


Ashtead Group plc


MJ Gleeson plc


Adevinta ASA


Iceland Foods plc


Fabbrica Italiana Lapis ed Affini S.p.A.


Silver Lake Partners


IPI Partners


Castik Capital


JAB Holdings B.V.


Energy Infrastructure Partners AG


SIGNA Holding GmbH


Crosstree Real Estate Partners LLP


H.I.G. Capital


CTH Invest S.A. (Ferrero family office)


Black Diamond Capital Management


DigitalBridge, formerly Colony Capital


Parkview


Fortress


Principaux dossiers


  • Advised Harng Central Department Stores on the financing of its £4bn acquisition of Selfridges & Co. Limited from the Weston Family.
  • Advised Outokumpu Oyj on its €700m sustainability-linked revolving credit facility.
  • Advised Silver Lake on its €380m Term Loan B and revolving credit facilities in connection with its acquisition of Grupo BC de Asesoría Hipotecaria.

Slaughter and May

Led by Matthew Tobin, Slaughter and May‘s borrower-focused generalist financing practice regularly handles acquisition finance mandates for the firm’s impressive roster of FTSE 100 and 250 clients, which are appreciative of its versatility across many different finance products, including TLB, unitranche and loan/high yield bonds. The team also excels at handling public takeover work, an area in which Robert Byk is particularly accomplished and well-versed at handling “certain funds” public bid finance.  

Responsables de la pratique:

Matthew Tobin


Autres avocats clés:

Ed Fife; Robert Byk; Caroline Phillips; Guy O’Keefe; Azadeh Nassiri; Susan Hughes; Claire Cooke; Charlie McGarel-Groves


Principaux clients

Agility


Coats


Ineos


Schneider


Venus Topco


Principaux dossiers


  • Advising Schneider Electric SE  on its public offer to acquire the remaining shares in AVEVA plc, at a price of 3100p per share in a deal valuing the whole of AVEVA at around £9.48bn.
  • Advising Coats Group plc on a $250m term loan facility agreement in relation to its acquisition of the Texon group, a global leader in premium structural components and materials for the footwear, accessories and apparel industries.
  • Advising Agility Public Warehousing Company on the debt financing aspects of its successful acquisition of John Menzies PLC, a British aviation services company.

Willkie Farr & Gallagher (UK) LLP

Often working alongside its corporate team, and in collaboration with the firm's Paris and Frankfurt offices, Willkie Farr & Gallagher (UK) LLP‘s debt finance practice continues to gain traction among private equity sponsors/portfolio companies, which appreciate the firm’s deep knowledge of financing structures throughout the capital structure, as well as its ability to draw on its strong international resources. In addition to private equity work Ashley Young also handles some lender mandates for credit funds and heads a team that was afforded further bench strength following the arrival of leveraged finance expert Daniel Gendron from Linklaters LLP in August 2022.

Responsables de la pratique:

Ashley Young


Autres avocats clés:

Daniel Gendron; Komal Raina


Les références

‘Very responsive with good, clear and commercial advice.’

‘Komal Raina and Ashley Young are very high quality lawyers’

Principaux clients

CVC Capital Partners


Searchlight Capital Partners


Insight Partners


PAI Partners


Levine Leichtman Capital Partners


Freshstream Investment Partners


Genstar / Apex


SGT Capital


Stanley Capital Partners


Fidelis


Principaux dossiers


  • Represented Searchlight Capital Partners on the sale of Global Risk Partners to Florida-based Brown & Brown, Inc.
  • Advised STARK Group, a portfolio company of CVC, on its acquisition of Saint-Gobain Building Distribution.
  • Advised Platinum Equity on the financing of its acquisition of Imerys High Temperature Solutions Business.

Bryan Cave Leighton Paisner

Less siloed than some of its peers, Bryan Cave Leighton Paisner‘s generalist finance offering has an excellent overarching perspective of market trends and debt products, ensuring that it has the flexibility to effectively advise both creditor and debtor clients across a range of leveraged and event-driven financings. Team head Emma Howdle-Fuller regularly advises banking clients on M&A-related financings, while Derek Hrydziuszko  is more skewed towards corporate borrower mandates, including for large investment grade entities. Shanan Dunstan‘s versatile offering includes a strong and growing presence in the ABL space and she regularly acts on hybrid deals where ABL products sit alongside other debt including term loans.

Responsables de la pratique:

Emma Howdle-Fuller


Autres avocats clés:

Derek Hrydziuszko; Shanan Dunstan


Principaux clients

Playtech


Secure Income REIT


Wells Fargo


Norinchukin Bank


Scotiabank/Bank of Nova Scotia


Bank of China (London Branch)


Harlan Capital


Kape


Romulus Holdings


Rabobank


Principaux dossiers


  • Advised Secure Income REIT on key financing aspects of its £3.9bn recommended merger with LXi REIT.
  • Advised Kape Technologies on a $500m financing, including in connection with the $1bn acquisition of ExpressVPN, the premium industry-leading virtual private network.
  • Advised Harlan Capital on an investment in Immersive Gamebox.

Cadwalader, Wickersham & Taft LLP

Established in April 2022 following the ‘commercially sharp’ Matthew Smith ‘s arrival from Baker McKenzie, Cadwalader, Wickersham & Taft LLP has quickly made an impact with a lender focused client base and is ‘building a growing presence in the private credit markets’. Clients, which include a number of debt funds, appreciate  not only its ‘strong technical and commercial understanding’ of core leveraged finance products but also the synergies provided by the firm’s broader competence in fund finance, in particular. The team’s upward trajectory was further underscored by the arrival in April 2023 of the ‘exceptional’ Smridhi Gulati  from Dechert LLP, who now co-heads the team alongside Smith.

Responsables de la pratique:

Matthew Smith; Smridhi Gulati


Autres avocats clés:

Bevis Metcalfe; Andrew Vickers; Matthew Mazenier; Joe Denyer


Les références

Working with the firm is like an extension of our in-house team.’

‘The team are building a growing presence in the private credit markets and do a very good job. They demonstrate strong technical and commercial understanding and are, in our view, more impressive than many of their peer firms.’

‘Matthew Smith is a very strong technical lawyer who is also commercially sharp – he knows how to get deals done and focuses on the important details without getting bogged down in matters that don’t mean anything to clients.’

Principaux clients

Macquarie Principal Finance


Ardian Private Credit


EMK Capital


Bridgepoint Credit


Muzinich Private Credit


Barings Private Credit


Ardian Private Credit


Apera Asset Management


Hanover Investors Management


Goldman Sachs


National Westminster Bank


Principaux dossiers


  • Advised the unitranche and holdco lenders (including Bridgepoint Credit)in connection with the unitranche and holdco PIK facilities made available in connection with Bregal Sagemount’s acquisition of certain interests in the Enhesa Group from ICG plc.
  • Advised the unitranche lenders (including Goldman Sachs and Macquarie Principal Finance) in connection with the senior secured facilities (including additional incremental facilities) made available to the Dukes Education Group, one of the largest collection of nurseries, schools and education services in the UK.
  • Advised the Private Equity Sponsor and the Borrower in connection with the unitranche refinancing of EMK Capital’s acquisition of the Outright Games Group (and its subsequent acquisition funding of US-based target GameMill) using facilities made available by Bain Capital Credit (amongst others).

CMS

Drawing on ‘a good depth of knowledge’ across product lines, CMS provides ‘user-friendly and pragmatic’ advice to private equity sponsors and UK clearing banks within the mid-market leveraged finance sphere. Patrick Donegan, who is particularly adept at handling deals in the energy and infrastructure sectors, heads a team that also includes TMT finance specialist Charles Kerrigan and the ‘approachable, affable and experienced’ Tom Siggers.

Responsables de la pratique:

Patrick Donegan


Autres avocats clés:

Charles Kerrigan; Alex Patience; Mark Moseling; Anne Chitan; Tom Siggers; Tom Hughes; Kerry Langton; Olivia Crundwell


Les références

‘The responsive team has a good depth of knowledge.’

The team is responsive, solutions-oriented and cost-effective.’

The team is efficient, user-friendly and pragmatic.’

Principaux clients

Macquarie Asset Management


Queens Park Equity


Clarity Global


August Equity


Three Hills Capital


Bank of Ireland


HSBC


Barclays Bank


BNP Paribas


Citibank


Santander


NatWest Bank


Crescent Capital


Five Arrows


Hoplon Investment Partners


Principaux dossiers


  • Advising Macquarie Asset Management and BCI on their acquisition of a majority stake in National Grid’s gas transmission business with a total enterprise value of £9.6bn.
  • Advising a syndicate of nine key technology lenders (Bank of Ireland, Barclays, Citi London, Citi Singapore, BNP Paribas, Citizens Bank, Bank Leumi, HSBC and Credit Suisse) in relation to amended, restated and increased bank facilities of $500m in total to Kape Technologies to assist in the acquisition of ExpressVPN.
  • Advising August Private Equity on a unitranche refinancing alongside a super senior RCF and a slice of super senior term debt provided by a clearing bank to its education and care business Orbis.

Davis Polk & Wardwell LLP

Conversant with a wide range of finance products, including European TLB, US TLB and New York law-governed high yield notes, Davis Polk & Wardwell LLP‘s small partner-led team is particularly adept at handling big-ticket cross-border leveraged finance transactions for banks and borrowers. Team head Nick Benham‘s broad and deep acquisition finance prowess includes niche expertise handling public bid finance, where he often works alongside the firm’s strong M&A team.

Responsables de la pratique:

Nick Benham


Autres avocats clés:

Aaron Ferner; Luke McDougall


Principaux clients

ADC Therapeutics


Atairos


Brookfield Business Partners


Citigroup


Comcast


Credit Agricole


Credit Suisse


eDreams ODIGEO


Ferrero


Ford Motor Company


Hayfin Capital Management


J.P. Morgan


Made.com


Morgan Stanley


Royalty Pharma


SatixFy Communications


Sky


SS&C Technologies


Temenos


Tencent


Wren Sterling


Principaux dossiers


  • Advised the underwriters on the $28.5bn financing for Amgen’s proposed takeover of Horizon Therapeutics.
  • Advised underwriters on the €3.9bn  financing for KKR’s acquisition of Refresco Group B.V.
  • Advised Atairos in connection with its £140m financing for its takeover of Ocean Outdoor PLC.

Goodwin

Focusing on acquisitions in firmwide core industry sectors, including tech, life sciences and property, Goodwin continues to actively advise on behalf of a growing roster of private equity funds, which are appreciative of the firm's expertise advising on debt financing techniques throughout the capital structure. Simon Fulbrook and Hugh O’Sullivan co-head the team.

Responsables de la pratique:

Simon Fulbrook; Hugh O’Sullivan


Autres avocats clés:

Richard Hughes; Thomas Plowman


Les références

‘Goodwin has worked with us accessing large direct deals and small mid-market deals. The same team there can lead appropriate documentation for both – this is unique’

‘Stand-out knowledge from Hugh O’Sullivan from legal issues on large to small-market terms. He also understands the inner workings of banks which helps management as much as it helps our firm.’

Principaux clients

ECI Partners


TowerBrook Capital Partners


LDC


Mayfair Equity Partners


Partners Group


Queens Park Equity


TA Associates


Bregal Milestone


Tiancheng International Investment


Wavecrest Partners


G Square Private Equity


H.I.G. Capital


Inflexion


Accel-KKR


Thoma Bravo


Principaux dossiers


  • Advised TowerBrook Capital Partners on the financing to facilitate its acquisition of leading provider of premium finance for commercial and retail insurance products Premium Credit Limited from Cinven.
  • Advised Biocon Biologics Ltd. (India’s largest biotech company) on the financing to facilitate its $3.33bn acquisition of the global biosimilars business of its partner Viatris Inc.
  • Advised Accel-KKR on the debt financing for its acquisition of the PayProp group and the co-investment in the PayProp group by a consortium of its existing shareholders.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP‘s primary acquisition finance focus is advising its impressive roster of large investment grade corporates on the debt structuring to facilitate their M&A transactions, although it does handle some lender matters (particularly in relation to real estate mandates and emerging markets matters) . The team, which is co-headed by Kristen Roberts, William Breeze and Gabrielle Wong, also handles targeted funds-side work (for both private equity sponsors and sovereign wealth funds), focusing on transactions within core firmwide sector strengths including energy and infrastructure.

Responsables de la pratique:

Kristen Roberts; William Breeze; Gabrielle Wong


Autres avocats clés:

Will Nevin; Heather Culshaw; Thomas Bethel; Martin Kavanagh; Stacey Pang


Principaux clients

Schneider Electric plc


Bank of America


GIC


Inchcape plc


Capital & Counties plc


Elementis plc


Synthomer plc


Workspace Group plc


Marel hf and its subsidiaries


Victorian Funds Management Corporation


Principaux dossiers


  • Advised Schneider Electric SE on its £4.1bn multicurrency bridge facility agreement in connection with its proposed acquisition of Aveva Group plc, one of Britain’s biggest tech companies.
  • Advised Bank of America and HSBC as lenders on the multi-billion-pound separation financing of Haleon from the GSK group.
  • Advised GIC on the financing of its strategic acquisition of a minority stake in CETIN Group, the CEE leading mobile telecommunications infrastructure platform.

McDermott Will & Emery UK LLP

The ‘technically strong and commercial’ team at McDermott Will & Emery UK LLP provides ‘insightful yet very practical advice’ to funds, in lender and borrower roles, primarily within the mid-market leveraged finance sphere. Team head Aymen Mahmoud has ‘exceptional knowledge of the acquisition finance space’, and since his arrival, along with the ‘hugely intelligent and commercially savvy lawyer’ Mark Fine in May 2020, has provided huge impetus to the finance offering and gained considerable market share.

Responsables de la pratique:

Aymen Mahmoud


Autres avocats clés:

Mark Fine; Giulia Venanzoni


Les références

The team is adept at providing insightful yet very practical advice.’

‘The team has excellent capacity to understand both mid-market and upper market documents and advise clients accordingly.’

‘It is a very technically strong and commercial team.’

Principaux clients

Abu Dhabi Investment Authority


Aksiom Services Group


Alcentra Limited


Alter Domus


Aquiline Capital Partners


Ares Management Limited


bd-capital


Blue Owl (formerly Owl Rock)


Blue Water Private Equity LLP


Cairn Capital


Caura Ltd


ClearCourse


CoachHub GmbH


CVC Credit


Excellence Logging Limited


Five Arrows Growth Capital


FQX


GLAS Specialist Services Limited


Goldman Sachs Asset Management


Golub Capital LLC


Guggenheim Partners Limited


HPS Investment Partners


Intriva Capital


Laboratoire X.O.


Mercuria Energy Trading Pte Ltd


MessageBird B.V.


Odyssey Europe Holdco S.à r.l. (holding company of Olympic Entertainment Group)


OpenGate Capital Management Europe Sarl (and its portfolio companies Kongsberg Precision Cutting Systems and EverZinc)


Orbus Group


Palamon Capital Partners (and portfolio company FairConnect)


Parent Cloud Limited


Partners Group


Pemberton Capital Advisors LLP


Perwyn Advisors UK Limited


PX Group


QMetric Group Limited


Royal Bank of Canada


Sanne


SilverTree Equity Partners LLP


Sirius Petroleum PLC


Sona Asset Management


Synova Capital (and portfolio insurance brokerage business JMG Group)


Treo Asset Management LLC (previously known as BRG Asset Management)


Weight Capital Partners


Principaux dossiers


  • Advised Golub Capital, as lender, on the acquisition of Outpost24, a cybersecurity risk management group, by Vitruvian Partners as sponsor.
  • Advised Aquiline Capital Partners and ClearCourse on financing provided by BlackRock and Goldman Sachs.
  • Advised Five Arrows Growth Capital (FAGC), as sponsors, on the funding for their acquisition of the Padoa group.

Morrison Foerster

Spearheaded by the 'hardworking' and 'technically astute' Christopher Kandel, Morrison Foerster's small but versatile London finance offering is well-versed at advising creditors and debtors across a range of financing structures, including a considerable and growing volume of mandates within the leveraged/acquisition finance space. Kandel's ability to advise on both English and US law-governed products is a particularly strong selling point, ensuring a degree of continuity unmatched by many other firms in the ranking. The  'incredibly responsive and highly personable' John Burge is also a key member of the team as a result of his conventional corporate finance expertise, as well as regularly advising on growth company debt finance matters.

Responsables de la pratique:

Christopher Kandel


Autres avocats clés:

John Burge; Matthew Dunlap; Rebecca DeLong


Les références

‘The team is technically very strong.’

‘The very hardworking Christopher Kandel is technically astute.’

‘John Burge is a delight to work with. He is incredibly responsive and highly personable. He demystifies complex topics and is pragmatic.’

Principaux clients

Ares Management Limited


Barclays Bank PLC


Bardin Hill


Beach Point Capital


Deutsche Bank AG


Ernst & Young


Eurazeo (formerly known as Idinvest)


Eurohold Bulgaria


Fortress


Morgan Stanley


RS Group PLC (formerly known as Electrocomponents)


Smart Pension Limited


SoftBank Group Corp.


Tate & Lyle


Yara International


Principaux dossiers


  • Represented Yara in connection with its successful $600m debut green bond offering.
  • Acted for SoftBank Group Corp. in a limited recourse margin loan secured by its 75% stake in Arm Limited, initially closed at $8bn and subsequently upsized to $8.5bn.
  • Represented Smart Pension in negotiating and entry into a loan facility agreement provided by Canadian Imperial Bank of Commerce.

Norton Rose Fulbright

At Norton Rose Fulbright, the ‘responsive and knowledgeable’ finance team handles a considerable volume of acquisition finance work for its creditor-focused client base. Michael Black , who co-heads the team alongside energy and infrastructure finance expert Madhavi Gosavi , has broad knowledge across myriad finance products, including a market-leading ABL offering, which he regularly deploys as a key part of the finance package to facilitate large-scale cross-border acquisition finance deals. The firm’s emerging markets prowess also regularly elicits acquisition and event-driven finance mandates for commercial and development banks.

Responsables de la pratique:

Madhavi Gosavi; Michael Black


Autres avocats clés:

Neha Khosla; Michael Ings; James Dunnett; Alex Zekkos


Les références

‘The responsive and knowledgeable team provides excellent market insights.’

‘They get what you need and how you think and become an extension of the business while they support you. Also very good at converting technical legal language into commercial realities and consequences.’

Neha Khosla is very practical, attentive and technically strong.’

Principaux clients

ABN Amro


Absa Bank


Africa Finance Corporation


African Development Bank


Aurelius


Bank of America


Bank of China


Bantry Bay


Barclays Bank


DBS


Deutsche Bank


DNB Bank


EBRD


Export Development Canada


Goldman Sachs


Hamburg Commercial Bank


HCC International Insurance Company plc


HSBC


IFC


ING Bank


Japan International Cooperation Agency


JP Morgan Chase Bank


Liberty Mutual Insurance Europe


Macquarie


Mizuho


MUFG Bank


Natixis


Natwest


PNC, National Association


Shell International Eastern Trading


SMBC Bank


Stanbic Uganda


Standard Bank of South Africa


Standard Chartered


Swiss Re


The Bank of East Asia


Wells Fargo Capital Finance


Alleima Treasury AB


Aurelius


Bausch Health Companies Inc.


Chaucer Group


Coca-Cola HBC Finance BV


Countryside Partnerships Plc


Dialight Plc


Domino’s Pizza Group Plc


ED&F Man Treasury Plc


IMI Group Limited


Mortgage Advice Bureau (Holdings) Plc


Reach Plc


RWS Holdings Plc


Sandvik Treasury AB


Titan Trust Bank Limited


Principaux dossiers


  • Advised Titan Trust Bank Limited on its acquisition finance facilities for the acquisition of NGX-listed Union Bank of Nigeria PLC. The debt facilities of $300m were provided by Afrexim as Lender, and disbursed under its Intra-African Investment Financing Facility.
  • Advised Export Development Canada on the multi-currency acquisition financing facilities made available to Clearpier Acquisitions Corp, a subsidiary of Clearpier Inc., for the acquisitions of KPM Technologies Ltd, Cygobel Media Ltd, Hang My Ads, Lda and Pesto Harel Shemesh Ltd. (PubPlus).
  • Advised Barclays Bank as arranger of a $500m asset-based lending facility to entities related to Clayton, Dubilier & Rice LLC in relation to the acquisition of LABL Acquisition Corporation from Platinum Equity.

Pinsent Masons LLP

Leveraging well-established clearing bank ties as well as a growing volume of mandates for alternative finance providers, Pinsent Masons LLP is  adept at advising on mid-market acquisition finance transactions. In this context, clients benefit from experts based in London, as well as in key regional centres, including practitioners with complementary expertise advising on ABL products – which are increasingly being used on hybrid deals in the space. Max Millington ‘is technically very strong’, and has a good perspective of the market for lenders and private equity sponsors.

Responsables de la pratique:

Max Millington


Autres avocats clés:

Liam Terry; Kate Hardwidge; Mhairi Morrison


Les références

‘Pinsent Masons has the strength in depth and the resources to ensure that often challenging timelines are met.’

Advice is of a consistently high standard and we trust that our position will be protected.’

Max Millington is technically very strong. He is also willing to spend time helping us to navigate proposals which may or may not turn into transactions. The time investment in the relationship is much appreciated.’

Principaux clients

Aareal Bank AG


HSBC Bank


ICBC Bank


MML Capital Partners LLP


MUFG


Santander UK plc


SMBC


Sovereign Capital Partners LLP


ThinCats


Principaux dossiers


  • Advising ThinCats on its support for Cairngorm Capital Partners LLP’s portfolio company, E-zec Medical Transport Services, in their merger with ERS Medical to create the UK’s leading private ambulance business.
  • Advising ThinCats on the acquisition financing to support Chiltern Capital’s investment in SiXworks
  • Advising SCP on acquisition financing for their investment in public- sector consultancy, Actica

Eversheds Sutherland (International) LLP

At Eversheds Sutherland (International) LLP, Chris Hastings is key to the firm’s success with private equity sponsors seeking financing for acquisitions, primarily within the mid-market. As part of his role as head of the London office’s banking practice, Nick Swiss handles some lender work on acquisition finance and corporate lending transactions. The arrival in July 2023 of private credit expert Ben Davis from Proskauer Rose LLP is a significant hire for the firm in light of the increased importance private capital has in funding mid-market M&A activity.

Responsables de la pratique:

Nick Swiss


Autres avocats clés:

Chris Hastings; Christopher Akinrele; Christopher Williams; Catherine Jones; Alex Smith; Ali Stark; Ben Davis


Principaux clients

Inflexion


Sovereign Capital Partners


Perwyn Advisors


Bowmark Capital


Baird Capital


H2 Equity Partners


Livingbridge


Principaux dossiers


Fried, Frank, Harris, Shriver & Jacobson LLP

Firmly focused on borrower mandates, primarily for a fund-centric client base, Fried, Frank, Harris, Shriver & Jacobson LLP‘s sweet-spot lies in handling cross-border transatlantic mandates, where the firm adds value not only through its ability to collaborate with US-based colleagues but also through the bank of practitioners in London with knowledge across the spectrum of UK and US law governed debt products. Neil Caddy is the principal contact for leveraged finance mandates and has expertise structuring deals using sophisticated financing techniques, including cov-lite TLB, bank/bond, second lien and unitranche products.

Responsables de la pratique:

J. Christian Nahr (New York)


Autres avocats clés:

Neil Caddy; Jons Lehmann; Kathryn Cecil; Graham Greenwood


Principaux clients

Perrigo


LumiraDx


Jacobs Engineering


Principaux dossiers


  • Advised Cambridge Information Group, Inc. acting as sponsor in the negotiation of a new credit facility with Owl Rock Core Income Corp., as Administrative Agent, and Barclays Bank PLC, as Revolver Agent, consisting of (i) a US$90m term loan facility and (ii) a $10m revolving credit facility, with proceeds used to finance the acquisition of Emerald Group Holdings Limited and its subsidiaries.
  • Advised Madison International Realty, the Public Sector Pension Investment Board (PSP Investments) and other WELPUT investors on the co-investment, alongside BentallGreenOak (BGO) managed funds, for the acquisition and development of 105 Victoria Street in London.
  • Advised Permira Advisers as finance counsel in connection with the financing of Permira’s acquisition of Mimecast Limited.

Jones Day

Jones Day provides an 'incredible service, which is legally superb and very commercial' for banks and credit funds providing financing solutions throughout the capital structure on leveraged and event-driven cross-border transactions. The 'outstanding' Lee Federman 'is technically superb, calm and composed' and has been central to the firm's success for clients, including on transatlantic deals, where he effectively leverages the expertise of the firm's New York office. Lewis Grimm co-heads the team alongside Federman.

Responsables de la pratique:

Lee Federman; Lewis Grimm


Autres avocats clés:

Thomas Miller; Mamoun Shafi


Les références

‘Jones Day’s leveraged finance team provide an incredible service, which is legally superb and very commercial.’

They manage transactions with huge amounts of work behind the scenes and, even if it is difficult, remain calm and run a very collaborative process.’

‘Expert, detailed legal advice and always available. Simply exceptional. Depth of coverage, but always with fantastic access to partner led expert service.’

Principaux clients

Arsenal Capital


Bank of Montreal


Inflexion


J.F. Lehman


Macquarie Asset Management


Orange


OakNorth Bank


Permira Credit


Stellex Capital


Principaux dossiers


  • Advised Orange on the  €6.6bn financing in connection with its joint venture with Masmovil in Spain.
  • Advised Bank of Montreal as arranger on its $800m reducing commitment revolving credit facilities to finance Nuvei Corp’s $1.3bn acquisition of Paya Holdings Inc.
  • Advised Macquarie Asset Management on the financing of its proposed  €2.4bn acquisition of Suez’s UK waste and recovery business.

King & Spalding LLP

Enhanced by a spate of recent hires, King & Spalding LLP's London offering is an increasingly credible proposition for lenders and borrowers engaged in cross-border leveraged finance mandates, particularly those involving a combination of US and UK debt products (where it can call on the firm’s long-established US platform). Richard Kitchen, who joined alongside the ‘brilliant’ Amin Doulai  from Paul Hastings LLP in August 2022, was one of the most notable of these in light of his private credit expertise. Kitchen now co-heads the team alongside Benoit Lavigne , who himself has considerable leveraged and private credit expertise on both lender and borrower fronts.

Responsables de la pratique:

Richard Kitchen; Benoit Lavigne


Autres avocats clés:

Amin Doulai; Andrew Brown; Alon Blitz; Patrick Schumann; David Phillips; Kwame Adzatia; Rosie Watterson; Cameron Storah


Les références

‘When transaction timelines are tight, I always turn to the King & Spalding team because I know they can meet deadlines despite leaving no stone unturned in their review.  I can be confident that things won’t be overlooked.’

‘The team is very capable and highly responsive.’

‘Richard Kitchen’s ability to draw on experience having worked both lender side and sponsor side is rare in the UK market. It helps us as clients really take an objective view during negotiations and easily identify what we should be most concerned about.’

Principaux clients

Antares Capital


Ares


Bain Capital Credit


Barings


Blue Torch Capital


CPPIB Credit Investments III Inc.


Circular Resources SARL


MGG Investment Group


Prudential Private Capital


Thoma Bravo Credit Fund II, L.P.


Tree Line Capital Partners


Utmost Group


Principaux dossiers


  • Advised Circular Resources SARL on a revolving and term facilities agreement including an initial term loan commitment made available for its acquisition of Duales Systems Holding GmbH & Co. KG.
  • Advised Blackstone Alternative Credit Advisors LP, Thoma Bravo Credit Fund II, L.P. and CPPIB Credit Investments III Inc. as lenders of a first lien credit facility to Nightvision Bidco Limited (UK borrower) and Nintex USA, Inc. (US borrower), and their holding entities and subsidiaries.
  • Advised the lender on a $12.15m revolving credit facility for the borrower, Hercules Technologies BidCo Limited (a portfolio company of STG Partners). The proceeds of which were partially used to fund a portion of Hercules Technologies BidCo Limited’s acquisition of Brady Trading Limited and Brady Switzerland SA.

Taylor Wessing LLP

Led by Martin Yells, Taylor Wessing LLP provides ‘high-quality advice’ to corporates and private equity firms engaged in mid-market acquisition finance mandates.  A significant amount of the work revolves around the tech sector, including the provision of debt financing to later stage venture-backed clients of the firm. The ‘hardworking’ Lerika Le Grange is a ‘first-rate banking lawyer’, and is a key member of the versatile team by virtue of her deep and wide expertise across new money and distressed debt/restructuring transactions.

 

Responsables de la pratique:

Martin Yells


Autres avocats clés:

Lerika Le Grange; Fiona Coady


Les références

‘The superb team provides high-quality advice.’

The hardworking Lerika Le Grange is a first-rate banking lawyer.’

 

Principaux clients

Digital 9 Infrastructure plc


Hilton Food Group plc


Ecora Resources plc


CentralNic Group plc


NoteMachine / Eurochange


Inflexion Private Equity Partners / K2 Partnering Solutions


EA-RS Fire Engineering Limited


Rutland Partners / JSM Group


Shield Therapeutics plc


Inflexion Private Equity Partners / Virgin Experience Days


PNC Business Credit


Bridgepoint Advisors II Limited


Principaux dossiers


  • Acted for Digital 9 on a revolving credit facility of £375m (plus an uncommitted accordion for a further £200m) to support the company  in continuing to make strategic acquisitions in the digital infrastructure sector.
  • Advised meat and specialist protein product processor Hilton Foods Group PLC on the refinancing of all of its existing debt facilities (which included the multi-currency revolving and term facilities we advised HFG on in 2017 and a bridge financing we advised on in late 2021) with a new unsecured multi-currency revolving and term investment grade facilities agreement, in part to support the strategic acquisition of Foppen and the Dutch Seafood Company.
  • Acting on the refinancing of the CentralNic Group via syndicated term and revolving loan facilities.