Retour United Kingdom - Solicitors

Acquisition finance in London

Allen & Overy LLP

A 'class act', Allen & Overy LLP benefits from 'deep market insight' for financial sponsors and lenders and is able to provide 'clever solutions to complex problems', utilising the full armoury of financial products throughout the capital structure. The firm has been at the forefront of the trend towards public-to-private financings during 2019, advising on a number of high profile transactions. Co-head of the global banking practice, Philip Bowden, is well-versed in the most sophisticated techniques utilised in the leveraged finance market, as exemplified by his recent representation of lenders in a mandate which incorporated conventional infrastructure financing together with leveraged finance concepts. 'Highly experienced financing lawyerRobin Harvey has 'truly seen it all before' and is therefore able to act with great agility and precision on behalf of his impressive cadre of private equity sponsor clients. Denise Gibson  is best known for her lender side work on behalf of both commercial/investment banks, as well as a growing number of credit funds. Matt Moore is also recommended as a result of his domestic and cross-border work for the full scope of lenders, including investment banks and private debt funds.  High profile former practice head Jonathan Brownson has left for the London arm of Cahill Gordon & Reindel LLP alongside high yield specialist Jake Keaveny.

Les références

We’ve been highly impressed with the sponsor-side financing practice since entering into a panel relationship a few years ago. Both senior and junior lawyers are technically very capable, ensuring our financings are front of market and consistently delivering clever solutions to complex problems.

The individuals are also very personable and have extended the working relationship beyond simply borrower/lawyer. They are a class act.

The team has deep market insight.

A very strong team to work with when raising external debt financing for a new transaction.

Robin Harvey is a highly experienced financing lawyer and has truly “seen it all before”, meaning he is quick to deal with issues and able to deliver clever/bespoke solutions.

 

Principaux clients

Bridgepoint

PAI Partners

HG Capital

H.I.G Capital

Providence Equity Partners

CVC Capital Partners

Charterhouse Capital Partners

Ardian

Exponent Private Equity

OMERS Private Equity

Principaux dossiers

  • Advised mandated lead arrangers in connection with the financing of the public bid for Parques Reunidos Servicios Centrales, S.A. a publicly-listed operator of leisure parks, by EQT.
  • Advised  lenders on a $1.25bn unitranche financing for the acquisition by ION Investment Group of Acuris (one of its portfolio companies is Mergermarket Group), a financial news and data firm.
  • Advised Providence Equity Partners and its portfolio company Galileo Global Education, a higher education platform focused on Europe and Latin America, on its Term Loan B and revolving credit facility refinancing.

Clifford Chance LLP

Co-headed by Charles Cochrane and Taner Hassan, the 'very strong and experienced' team at Clifford Chance LLP has 'excellent market knowledge', which it implements to good effect on behalf of a balanced roster of private equity sponsors, corporates and banks across a range of acquisition finance mandates. The firm's extensive international network is of particular benefit to clients on larger-ticket cross-border mandates, for example where European issuers syndicate in the US (and vice-versa). The 'extremely drivenEmma Folds 'thinks about everything' and delivers excellent results for a lender focused client base across a range of complex financings throughout the capital structure. The team also excels at handling mandates at the intersection of infrastructure and leveraged finance, an area in which James Boswell and UK managing partner Michael Bates are particularly accomplished.

Responsables de la pratique:

Charles Cochrane; Taner Hassan

Les références

It is a strong and very experienced team, that is really on top of new/upcoming issues in syndicated lending.

Emma Folds is extremely driven and displays excellent attention to detail.

 

Principaux clients

EQT

Macquarie

HSBC

Jaguar Land Rover

Apera Capital

BAML

Morgan Stanley

Maersk Drilling

RBS

Cinven

Principaux dossiers

  • Advising mandated lead arrangers in relation to the £1.4bn senior and second lien facilities which (together with an equity preference share fund raising) supported TDR Capital’s £2bn take private of car auctioneer BCA Marketplace.
  • Advised Partners Group on the acquisition of CapeOmega, a leading offshore infrastructure platform in Norway, including the NOK10.37bn ($1.2bn) term, revolving and capex facilities supporting the acquisition.
  • Advising Macquarie Infrastructure and Real Assets in connection with €1bn term loan, capex and revolving credit facilities to finance the acquisition of Currenta, a chemical infrastructure park operator located in North Germany.

Kirkland & Ellis International LLP

'Highly plugged into the market' as a result of its work for a huge roster of large and mid cap private equity sponsors, Kirkland & Ellis International LLP is at the leading edge of the most sophisticated financing techniques across the credit spectrum and is able to be 'aggressive on terms at the right times', as a result of being unencumbered by having any lender side relationships. Able to effectively finance deals incorporating both UK and New York law governed products (including high yield bonds) and at the forefront of a market which continues to see the importing of US style market terms on European deals, the team has the flexibility and judgement to effectively serve clients' needs. Benefiting from many years' experience between them, high profile partner Neel Sachdev and the 'technically strongStephen Lucas co-head the team and both lead by example, regularly picking up market defining mandates; including Sachdev's work for a consortium of sponsors (including Apax and Warburg Pincus) on the $3.4bn take private of Inmarsat Plc - which involved a US dollar denominated bid for a UK sterling listed company. Christopher Shield also remains a lynchpin of the practice as a result of his strong ties with a plethora of large cap European and US sponsors and his ability to structure transactions at all levels of the debt capital structure. Michael Steele has a flourishing reputation handling leveraged financings across a spectrum of asset classes, including real estate, and is a key member of a team that also includes the 'exceptionalKirsteen Nicol .  

Responsables de la pratique:

Neel Sachdev; Stephen Lucas

Les références

The team is available 24/7 and adopts a real client service model, even when not on a specific assignment.

The team is highly plugged into the market and is able to be aggressive on terms at the right times.

Stephen Lucas is technically strong.

The exceptional Kirsteen Nicol has good commercial judgement, is responsive and can adapt to the situation.

 

Principaux clients

Advent International

Apax

Bain Capital Private Equity

BC Partners

Blackstone

CapVest

Investindustrial

Summit Partners

Thoma Bravo

Triton

Warburg Pincus

Vista Equity Partners

Principaux dossiers

  • Advised Blackstone, CPPIB and Kirkbi on the recommended £4.77bn cash offer for Merlin Entertainments.
  • Advised Apax, Warburg Pincus, CPPIB and OTPP on the recommended $3.4bn take private of Inmarsat Plc – the market-defining US dollar denominated bid.
  • Advised Thoma Bravo on the £3.1bn recommended cash offer for Sophos.

Latham & Watkins

Recognised as one of 'the most broad based practices in Europe', Latham & Watkins has an 'equally strong loan and bond franchise', as well as 'an in-depth knowledge of precedents'ensuring that the team is trusted to handle the biggest-ticket cross-border deals for a balanced roster of banks and private equity sponsors. Co-headed by Sam Hamilton ('one of the smartest, most effective and commercial lawyers in London') and the 'excellentMohamed Nurmohamed, the sheer size of the team, both in London but also across Europe and the US, ensures that it 'can run multiple trees without any capacity issues' and is able to handle a tremendous volume and range of leveraged deals, covering all parts of the capital structure. Alongside Hamilton, the 'indefatigableJayanthi Sadanandan and Dominic Newcomb, who 'knows the market inside out', are the key practitioners on the sponsor side. For lender work, in addition to Nurmohamed, Ross Anderson and the 'vastly experiencedStephen Kensell are recommended.

Responsables de la pratique:

Sam Hamilton; Mohamed Nurmohamed

Les références

‘The firm has large leveraged finance and high yield teams, which is extremely helpful when you’ve got trees or deals with tight timelines.’

‘No matter who we’re working with, they are practical and commercial, complete work quickly and provide great advice. Their associates are very efficient at turning documents and making sure we have no concerns about ancillary documents.’

‘This is without question the best law firm for leveraged finance in Europe, because it has an equally strong loan and bond franchise, which is unusual in the market, as well as very seasoned lawyers with lots of transaction experience and in-depth knowledge of precedents.’

‘Stephen Kensell is the voice of wisdom.’

‘Jayanthi Sadanandan is the trusted advisor to many private equity partners.’

‘Jayanthi Sadanandan is a machine, who out-works everyone else in the room and is indefatigable.’

‘Sam Hamilton is one of the smartest and most effective and commercial lawyers in London and should be regarded as his generation’s market-leading finance lawyer.’

‘Sam Hamilton has very deep and broad knowledge and experience, combined with a great sense for what is commercially important.’

‘Dominic Newcomb knows his market inside out and is an encyclopaedia of deal terms for his top clients.’

Principaux clients

Nordic Capital

CVC

EQT

Permira

BC Partners

Softbank

PAI Partners

Blackstone

The Carlyle Group

InvestIndustrial

JP Morgan

Goldman Sachs

Deutsche Bank

Bank of America Merrill Lynch

HSBC

Morgan Stanley

Citigroup

Ares Management

Jefferies

Natixis

Principaux dossiers

  • Advised Walnut Bidco Plc on the bank and bond financing for the public-to-private acquisition of Oriflame, a leading beauty company.
  • Advised the mandated lead arrangers and underwriters of the acquisition debt financing relating to the recommended offer for Merlin Entertainments Plc by a consortium comprising KIRKBI Invest A/S, Blackstone, and Canada Pension Plan Investment Board.
  • Advised on the revolving credit facility and term loan in connection with the circa $2.3bn public-to-private acquisition of Amer Sports by Anta Sports and FountainVest.

Linklaters LLP

Leveraging deeply rooted institutional banking relationships, as well as a sizeable borrower practice that includes investment grade corporates, as well as private equity sponsors, Linklaters LLP has a balanced perspective of market trends and is able to comfortably handle deals utilising a range of products, including unitranche, Term Loan B and bank/bond financings. The team - which is able to access the expertise of a 34-partner general banking practice in London, as well as finance lawyers spread throughout the firm's vast international network - has the critical mass and geographical diversity to handle a huge range and volume of deals, ranging from the relatively commoditised through to the most highly structured and bespoke. The ability to structure highly complex/bespoke mandates was recently underscored by Nick Syson's advice to the banks on the financing of KKR's public offer to buy out minority shareholders in German media group Axel Springer; notably this was the first European covenant-lite Term Loan B transaction at the level of a holdco minority shareholder following a complicated German public takeover process. Annette Kurdian's broad-based leveraged finance practice sees her advising clients on deals utilising the full spectrum of debt products, including direct lending mandates, as well as hybrid structures combining infrastructure and leveraged finance technology. Philip Spittal heads up the global loans team and as part of his broad syndicated finance expertise, regularly handles event-driven acquisition finance mandates for lenders and borrowers.

Responsables de la pratique:

David Irvine ; Oliver Sceales; Philip Spittal (global co-head of banking)

Principaux clients

CVC Capital Partners

Apollo

Cerberus

PAI Partners

Montagu Private Equity

Hg Capital

Alcentra

ION Investment Group Limited

UniCredit

Credit Suisse

Barclays

Bank of America

Crédit Agricole

Principaux dossiers

  • Advised UniCredit as the sole underwriter on a €935m senior holdco bridge term loan facility and subsequently advised the mandated lead arrangers on a European covenant lite Term Loan B/revolving credit facility refinancing of the holdco bridge term facility, the proceeds of both of which were to be used in connection with KKR’s public offer to buy out minority shareholders in German media group Axel Springer.
  • Advised the arranging banks on the financing of the acquisition of Nestle Skin Health (since renamed Galderma) by a consortium led by EQT Private Equity and Abu Dhabi Investment Authority.
  • Advised Barclays, Goldman Sachs, Nomura, Deutsche Bank, Lloyds and Rabobank as mandated lead arrangers and/or bookrunners of the £2.4bn financing backing Stonegate’s take private of Ei Group, the UK’s largest pub operator and a FTSE 250 company.

Weil, Gotshal & Manges (London) LLP

Benefiting from 'experience across a wide range of transactions and markets', Weil, Gotshal & Manges (London) LLP is 'excellent at thinking outside the box' for a fairly balanced roster of creditor and debtor clients. On the lender front, although the firm handles a sizeable amount of banking work (particularly on behalf of US investment banks), under the guidance of the 'very experienced and client friendly' Chris McLaughlin, the team has been particularly active in the alternative lender/credit funds space, an area that was further enhanced in July 2019 by the arrival of Paul Stewart  from Ashurst. 'Absolute rock star', Tom Richards , meanwhile, engenders a tremendous amount of loyalty from marquee sponsor side client, Advent, which he continues to advise on financing aspects of many of its most significant European buyouts.

Responsables de la pratique:

Reena Gogna; Tom Richards; Chris McLaughlin; Paul Stewart

Autres avocats clés:

Paul Hibbert

Les références

Great expertise in financing, second-to-none.

The team’s experience across a wide range of transactions and markets is  excellent, enabling it to provide “out-of-the box” solutions.

The team offers a very personalised service and is excellent at acting for direct lenders.

Chris McLaughlin is a very experienced and client friendly lawyer, who is always on top of any issue that arises.

Chris McLaughlin is extremely responsive and always provides very thoughtful advice. He is excellent at balancing legal risks with commercial realities.

Tom Richards is an absolute rock star!

Principaux clients

Advent

Bain

Permira

Antin

Novalpina

CVC

Goldman Sachs

Montagu

Oaktree

Towerbrook

Principaux dossiers

  • Advised Bain Capital, on the financing relating to its complex $4bn carve-out acquisition of a 60% stake in Kantar from WPP Plc.
  • Advised Ares Management, on the “first-out, last-out” unitranche loan financing for Apax Partners’ acquisition of Baltic Classifieds Group.
  • Advising key client, Advent International on  a unitranche facility incurred in connection with its  acquisition of Vitaldent.

Ashurst

A longstanding presence in the UK/European acquisition finance market, Ashurst's lender-focused practice retains strong relationships with traditional commercial/investment banks but has become best-known in recent years for its work for credit funds, an increasingly important provider of liquidity on mid-market leveraged deals. The team 'really understands the market', having been present at the onset of the explosion of this investor class and has been at the vanguard of developing trends, including on the unitranche front and the increasing use of a Term Loan B structure in this space. Helen Burton  has been pivotal to the firm's direct lending success and is an 'absolute standout in her field'. As part of his broad-ranging practice, the vastly experienced Nigel Ward handles conventional leveraged transactions, as well as infrastructure-related acquisition finance matters. Martyn Rogers  heads up the firm's overarching global loans team which houses the acquisition finance group. Paul Stewart  joined Weil, Gotshal & Manges (London) LLP in July 2019.  

Responsables de la pratique:

Martyn Rogers

Les références

The team is very commercial and really understands the market.

Helen Burton remains an absolutely standout in her field

 

Principaux clients

RBS

HSBC

JP Morgan

HayFin

RPC

Apollo

Davidson Kempner

ICG

AVEVA Group plc

BlackRock

Principaux dossiers

  • Advising the sole unitranche lender in support of a leading private equity firm on the buyout of a well known bubble tea seller.
  • Advising JP Morgan on a $2.5bn debt funding package for the Sirius Mineral’s Woodsmith Mine project.
  • Acting for the lenders supporting the financing of the acquisition of a well-known research company that offers bespoke research, analytics and automation technology to blue-chip customers in the financial services sector around the world.

Milbank

Traditionally very strong on the leveraged loan side out of London, Milbank's profile in the market and its ability to effectively serve its impressive roster of banking clients on large, cross-border, sponsor-driven acquisition finance deals has been strengthened over the last few years through strategic hires including the 2018 arrival of high yield expert Apostolos Gkoutzinis from Shearman & Sterling LLP. Led by the 'thoughtful and commercialSuhrud Mehta, the team is 'in and around many of the largest deals in the market on the lender side', and is appreciated by clients for its ability to structure deals using highly bespoke and sometimes first-in-market terms. This was recently exemplified by Mehta's representation of the banks providing debt financing to CVC Capital Partners to facilitate its acquisition of a minority stake in GEMS Education, which marked the first time a Middle Eastern issuer has tapped the US Term Loan B market for a large-scale transaction. Alexandra Grant continues to prove her worth to the team and has recently been particularly active for lenders on complex bridge-to-bond transactions.

Responsables de la pratique:

Suhrud Mehta

Les références

Partners and associates alike are generally excellent.

The team is in and around many of the largest deals in the market on the lender side.

Suhrud Mehta is excellent, thoughtful and commercial.

 

Principaux clients

Bank of America

Barclays

UBS

Goldman Sachs

BNP Paribas

Citigroup

Crédit Agricole

SAZKA Group

PSP

Oaktree

Salt

Porterbrook

Eircom

Principaux dossiers

  • Represented Bank of America, Barclays and UBS as global coordinators, lead arrangers and bookrunners, providing committed bank and bridge financing to support the private equity consortium’s £4.7bn takeover bid for London-listed company, Inmarsat.
  • Represented the commitment parties and initial purchasers in connection with a super-senior revolving credit facility and related committed financing, as well as the related issuance of $505m senior secured notes, co-issued by F-Brasile S.p.A. and F-Brasile US, LLC, to finance the acquisition of Forgital.
  • Advising the financing sources in connection with CVC Capital Partners’ acquisition of a 30% stake in GEMS Education.

Simpson Thacher & Bartlett LLP

Although it remains relatively small compared to some of its peers, Simpson Thacher & Bartlett LLP truly punches above its weight and handles a disproportionately large share of major sponsor-led financings, as a result of the firm's deeply embedded and institutionalised relationships with private equity heavy hitters, including KKR and Apax. Led by Ian Barratt, the team is well-versed at advising sponsors implementing debt throughout the capital structure, and by dint of its US heritage has the flexibility to advise on both English and US law across a range of sophisticated European financing transactions and products. Dual UK and US-qualified partner Sinead O’Shea is a key member of the team and has expertise advising sponsors on cross-border senior and subordinated financings. Shahpur Kabraji is also recommended and regularly advises leading sponsors and their portfolio companies in connection with a variety of corporate finance transactions.

Responsables de la pratique:

Ian Barratt

Principaux clients

Aldesa Financial Services S.A.

Apax Partners and its portfolio companies.

Ascential Plc

Aston Martin

Bank of America Merrill Lynch

The Blackstone Group and its portfolio companies.

Blackstone Real Estate Partners

Bridgepoint

Cinven

Credit Suisse

Emerald Investment Partners

EQT

EVRY

Gestamp Automoción

Goldman Sachs Merchant Banking Division

Grupo Antolín

HSS Hire

Intertrust

Investindustrial

J.P. Morgan

Kohlberg Kravis Roberts & Co. L.P. and its portfolio companies

Limerston Capital

Melrose Industries Plc

New Look

Oakley Capital

Pets at Home

Silver Lake Partners and certain of its portfolio companies.

Stonepeak Infrastructure Partners

Sun Capital Partners Limited

Principaux dossiers

  • Advised KKR in connection with the financing relating to KKR’s voluntary public tender offer for the shares of Axel Springer.
  • Advised Stonegate Pub Company, a TDR Capital portfolio company, in connection with the financing of its £3bn public bid for Ei Group Plc.
  • Advised KKR and BlackRock in connection with the financing relating to their pipeline infrastructure deal with the Abu Dhabi National Oil Company for approximately $4bn

White & Case LLP

With a sizeable and longstanding presence in London, as well as across Europe, Asia and the US, White & Case LLP is able to provide a 'responsive, adaptable and commercial service' to borrowers and lenders on the financing requirements associated with event-driven and leveraged acquisitions, irrespective of geographical location or whether the deal needs to be structured implementing UK or US-governed financing products. While the firm regularly retains mandates from major commercial/investment banks, it has perhaps been most active of late in relation to the thriving alternative lending market. The ‘very knowledgeable’ Gareth Eagles has been pivotal to the firm’s success in this segment of the market, particularly off the back of his strong relationship with leading credit fund GSO Capital Partners. The arrival of Fergus Wheeler  in April 2019 from King & Spalding LLP further enhanced the firm’s credentials in the direct lending space in light of his strong track record advising credit funds on mandates implementing financial products throughout the capital structure. Jeremy Duffy heads the firm’s EMEA bank lending practice and is a popular choice for banking clients on leveraged finance transactions.

Les références

The team is technically very strong, approachable and able to explain complex issues in layman’s terms. Always available at short notice to help out! Well-respected by issuers and underwriters alike.

The team combines strong technical knowledge and responsiveness with good commercial sense.

Gareth Eagles is highly knowledgeable and very responsive.

Emma Foster – very competent and responsive; thinks matters through thoroughly and is proactive at providing commercial and practical solutions to problems that may arise.

 

 

Principaux clients

GSO Capital Partners

Credit Suisse

JP Morgan

Deutsche Bank

Nordea Bank

Goldman Sachs

Bridgepoint

Castik Capital

Inflexion

CVC

PSP Investments

SEB Group

Goldman Sachs PIA

Principaux dossiers

  • Advising GSO Capital Partners on the second lien, preferred equity and common equity financing to support Advent International on its approximately £4bn acquisition of the shares in Cobham Plc.
  • Advised Deutsche Bank supporting Whitehelm Capital’s acquisition of Pioneer Public Properties, one of Norway’s largest private providers of education services.
  • Acting for CVC and its portfolio company Mehilainen in relation to its €380m Term Loan B financing in relation to its public offer to acquire Pihlajalinna.

Hogan Lovells International LLP

Led by Penny AngellHogan Lovells International LLP's 'responsive and thoughtful' four-partner team provides a 'commercial approach based on first- class technical knowledge' for a lender-focused client base on mid to upper-mid-market transactions. Although the firm retains strong clearing bank ties, it has been particularly active in the direct lending space and has formed strong relationships with many of the most active participants in the market. Praised for her 'great technical skills and extensive market experience', Jo Robinson has been pivotal to the firm's success in this sector, with Ares continuing to regularly instruct her on its direct lending/unitranche mandates. Leveraging the firm's broader regulatory and industry knowledge in the space, the firm also has niche expertise for lenders and borrowers in relation to insurance-related acquisition finance mandates - an area in which  Angell stands out for her 'knowledge, creativity and adaptability'. Matthew Cottis has significant leverage finance expertise and is a key member of a team that also includes direct lending expert Paul Mullen.

Responsables de la pratique:

Penny Angell

Les références

The firm has a strong culture and commercial approach based on first-class technical knowledge.

Rather than simply being smart and technical, the firm seems to grow talented all rounders who are good communicators, understand commercial nuances and yet are still incredibly talented counsel.

They are very responsive and thoughtful, striking the right balance between explaining all the relevant issues whilst understanding what is commercially achievable.

The firm has deep strength-in-depth at partner and senior associate level, with very strong technical capabilities. Strong market coverage with good visibility of the wider acquisition finance landscape and current market trends.

Penny Angell and Jo Robinson stand out.

The excellent Jo Robinson has great technical skills and extensive market experience.

 

Principaux clients

Lloyds Banking Group

HSBC

Ares Management

BNP Paribas

Société Générale

Intermediate Capital Group

Five Arrows

Standard Chartered Bank

Goldman Sachs

Park Square

Principaux dossiers

  • Advising Barings and Bank of Ireland on the financing of Montagu Private Equity’s acquisition of intelligence business Jane’s from IHS Markit.
  • Advised US investment fund HPS Investment Partners on the €1.2bn refinancing of Croatian food company Fortenova Grupa (formerly known as Agrokor) via private placement note.
  • Advised Ares in relation to the unitranche facilities provided to BC Partners for the acquisition of a majority stake in Synthon International Holding B.V  from its parent company Synthon Holding B.V.

Proskauer Rose LLP

Benefiting from an 'in-depth knowledge of the private credit universe in the US and Europe', Proskauer Rose LLP has the 'the best market overview on the private credit landscape from a legal perspective' according to one client. The London team is therefore extremely active in the leveraged finance space, given the prominence of this class of investor. 'Technical but also very commercial in their approach', Alex Griffith and Ben Davis have strong ties with many of the most prolific credit funds in the market, which are appreciative of their knowledge across a range of debt structures, including first out/last out and holdco PIK.

Responsables de la pratique:

Ben Davis; Alex Griffith; Faisal Ramzan

Autres avocats clés:

Daniel Hendon; Harriet West

Les références

The firm has an in-depth knowledge of the private credit universe in the US and Europe, and undoubtedly, the best market overview on the private credit landscape from a legal perspective.

The firm’s partners are very commercial and have a great business acumen.

The extremely hands-on Ben Davis has a wealth of experience and has acted for sponsors, banks and notably private credit funds on numerous deals, including cross-border transactions involving European and US matters.

Alex Griffith and Ben Davis are both technically excellent but also very commercial in their approach.

Harriet West is a great senior associate, who really knows her stuff.

 

Principaux clients

Alcentra

Apollo

Ardian

Ares Management

Bain Capital Credit

Barings

BlackRock

Bridgepoint Credit

Cheyne

CDPQ

CORDET Capital

Crescent

EQT Credit

GIC

Global Risk Partners Group

LGT European Capital

HPS (Highbridge)

ICG

M&G Investments

Muzinich & Co

Pemberton

Tikehau Investment Management

TPG Sixth Street Partners

Principaux dossiers

  • Advised Ares Management on the £500m first out/last out facilities provided to Preservation Capital and British Columbia Investment Management Corporation for their acquisition of BMS, a UK-based speciality lines insurance broker.
  • Represented Alcentra on the £650m financing to Inflexion to facilitate its acquisition of Marston.
  • Advised Apollo Capital Management, HPS, Barings, and Five Arrows on the £550m senior facilities to Sterling Square in order to finance the acquisition of the Outcomes First Group.

Shearman & Sterling LLP

Shearman & Sterling LLP 's finance group handles a significant volume of acquisition finance mandates for a balanced roster of lender and borrower clients, including banks, private equity sponsors, corporates and credit funds. Well-versed at advising on debt financing throughout the capital structure, clients benefit from access to an integrated bank and bond offering which includes a number of London-based lawyers who are able to cover both UK and New York-governed law (as well as the ability to leverage the expertise of lawyers based in New York). Known for his work for lenders and borrowers across Europe and the Middle East, Philip Stopford has a flourishing reputation in the market and embodies the firm's versatility in terms of clients, financial products and geographical scope.

Principaux clients

Bank of Nova Scotia

Ardagh Packaging Holdings Ltd

Coca-Cola European Partners Plc

Nokia

Trivium Packaging

Marlin Equity Partners

Investcorp

Ripplewood

DBAY Advisors

AlbaCore Capital Group

Principaux dossiers

  • Advised DBAY Advisors in connection with its acquisition of the entire issued share capital of Greenwhitestar Acquisitions Limited. A critical element was that DBAY Advisors provided a £55m PIK loan as part of the rescue financing for the Eddie Stobart Group subsidiary.
  • Advised AlbaCore Capital Group in connection with TDR Capital’s recommended cash offer of £1.9bn for BCA Market Place, the owner of WeBuyAnyCar.com.
  • Advised Marlin Equity Partners and Medius, a portfolio company of Marlin Equity Partners, in connection with Medius’s acquisition of Wax Digital, a provider of sourcing and procurement solutions.

Baker McKenzie

'Very up to date with market precedent and best practice', Baker McKenzie's six-partner team 'is able to provide valuable advice and guidance' to private equity sponsors, banks and corporates. Matthew Cox has a strong pedigree on behalf of private equity sponsors, in particular, and heads up the team that also includes Matthew Smith, who continues to generate a significant deal flow from private credit funds.

Responsables de la pratique:

Matthew Cox

Les références

The team is very up to date with market precedent and best practice, so is able to provide valuable advice and guidance to clients on what to look for, what to agree to and what to push against.

Nick O’Grady and Nick Cusack were both very knowledgeable and commercial in their approach.

 

Principaux clients

UBS AG (London Branch)

Charlesbank Capital Partners

Six Degrees Limited

Adient plc

J.P. Morgan

DNB UK

Santander

Lloyds Banking Group

The Royal Bank of Scotland

HSBC

MUFG

Impala Platinum Holdings Limited

Ares Management Limited

Platinum Equity

DMT Solutions UK Limited

Rhône Capital

Wellbore Integrated Solutions UK Limited

Barings Private Debt and Ardian Private Debt.

Muzinich & Co Limited

Catacap

Meyer Bergman

DPK Management

Principaux dossiers

  • Advised UBS AG (London Branch), acting as financial adviser to the consortium (consisting of Apax, Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan), on the leveraged finance aspects of the consortium’s public-to-private acquisition of Inmarsat Plc.
  • Acting for US private equity sponsor Charlesbank Capital on the unitranche refinancing of the client’s portfolio company Degrees in preparation for a public-to-private acquisition, including advising on all areas of the capital structure including in respect of certain structured third party Holdco PIK Notes.
  • Advised Adient Plc on the refinancing of certain facilities with JP Morgan by way of a new Term Loan B and Asset Based Revolving facility and Senior Secured Notes.

Debevoise & Plimpton LLP

Less siloed in its approach than some of its larger peers, the 'very analytical, thoughtful and considered' three-partner finance team at Debevoise & Plimpton LLP offers a 'breadth of capabilities across different debt instruments', enabling it to effectively service a borrower-focused client base. The team is particularly well attuned to the needs of private equity sponsors, by virtue not only of its downstream financing capability but also its ability to advise on fund financing and formation issues. The 'commercial and responsiveAlan Davies is the principal contact on the downstream financing work and continues to regularly advise core client Clayton, Dubilier & Rice.

Responsables de la pratique:

Alan Davies; Pierre Maugüé; Thomas Smith

Les références

The financing team is excellent and has a breadth of capabilities across debt instruments (LBO debt, asset backed financing etc). The partners have a less narrow focus than in other firms. They are also more commercial and keep in mind the big picture, while being technically strong.

The pragmatic and solutions-oriented team has very wide market knowledge and a strong commercial sense.

Pierre Maugüé is technically very strong and is very good with numbers and complex financial mechanisms.

Thomas Smith is intelligent and highly commercial, with a strong ability to simplify complex issues into key messages/points for consideration.

Thomas Smith balances commercial acumen with practicality and great market knowledge.

 

 

Principaux clients

Clayton, Dubilier & Rice Europe

Pret A Manger (Europe) Limited

Resolution Life Group Holdings Limited

Park Square Capital Partners

Glendower Capital

Elliott Management Corporation

EQT Partners

Evercare Health Fund L.P.

Lovell Minnick Partners

Kalle Management GmbH

Hamilton Insurance Group

Drive Devilbiss Healthcare Limited

Blackstone Group

Carlyle Group

Blackstone Insurance Solutions Group

Principaux dossiers

  • Advised Clayton Dubilier & Rice on the debt financing (which included a £370m Term Loan B facility and a £80m revolving facility) to fund its acquisition of WSH Investments Ltd, the UK catering operator that owns brands, such as Benugo and Searcys London.
  • Acting for Pret A Manger as finance counsel in its acquisition of EAT.
  • Acted as finance counsel for Resolution Life in respect of its acquisition of AMP Life in Australia and New Zealand.

Dechert LLP

Dechert LLP's London-based finance team has effectively built on the firm's reputation in the asset management space by working with the debt funds that play an increasingly active role in the European leveraged finance market. David Miles 'knows the market very well' and enjoys a strong following from many prominent alternative lenders, including Ares. The firm is also active on the borrower side for numerous private equity funds clients, an area that John Markland has successfully developed over the past few years following his arrival from Kirkland & Ellis International LLP.

Les références

David Miles knows the market very well.

Principaux clients

Ares Management Limited

Mid Europa Partners

VTB Capital Plc

Alcentra

UBS

Cordet Capital Partners

CVC Credit Partners

Quorn/Marlow Foods

SK Hynix

Barings Asset Management

Shawbrook Bank

Phenna Group

Perwyn Capital

Clanwilliam Group

GSO Blackstone

BlackRock

Sun Capital

Principaux dossiers

  • Advised Ares in its provision of financing facilities to the Ocorian Group (an Inflexion Private Equity portfolio company) to fund its acquisition of Estera from Bridgepoint.
  • Advised Mid Europa Partners in connection with the acquisition and related financing of Mlinar, a leading bakery retail and wholesale business in Croatia.
  • Advised Phenna Group Bidco Limited and the management team on financing and tax matters relating to the MBO of the Phenna Group from Academy Association Inc.

DLA Piper

DLA Piper provides 'commercial and pragmatic' advice to a mix of borrower (private equity and corporates) and lender clients. The team is able to add value by virtue of working across its regional offices, and by using less conventional techniques such as asset based lending (ABL) - which is increasingly being used alongside traditional bank debt. Strong clearing bank relationships still inform a significant amount of work  but it also continues to grow and strengthen its relationships within the private credit fund community. The 'exceptionalMark Dwyer co-chairs the firm's financial services group and has developed a particularly strong reputation in financing UK public takeovers of listed companies. The 'brilliantAndy Kolacki  has a particular focus on international mandates.  

Responsables de la pratique:

Martin Bartlam; Matt Christmas; Toby Barker

Les références

The responsive team has an excellent commercial understanding and displays a pragmatic and skillful approach.

Andy Kolacki is brilliant.

Mark Dwyer is an exceptional lawyer.

Mei Mei Wong is fantastic and highly skilled.

 

Principaux clients

Discovery

Heineken

VEON

LivaNova

Workspace Group

INEOS Enterprises Holdings Limited

Biffa Plc

Neqsol Holdings Limited

Symphony Technology Group

Principaux dossiers

  • Advised Neqsol and Bakcell and related entities in all aspects of a  $464m acquisition financing including structuring, negotiating and finalising the bridge to bond facility agreement (including related security package) and also the intra-group loans.
  • Advised Apollo Global Management (alongside Paul Weiss) on the English, Canadian and Australian aspects of its $1.8bn financing of the merger of GateHouse Media and Gannett, Apollo’s largest direct loan to date.
  • Advising VEON Holdings on the $600m financing of its public tender offer for the remaining shares in Global Telecom Holdings.

Macfarlanes LLP

'Very commercial and able to aid quick decision-making on key issues', Macfarlanes LLP's 'strong and responsive' team has deep market knowledge across the spectrum of debt financing techniques for a loyal roster of private equity sponsors and a growing number of credit funds, in their role as lenders. Kirstie Hutchinson 'has a great commercial manner and excellent knowledge of the latest precedents to enable the best outcome for clients'. Andrew Perkins has cultivated a strong following among private credit funds and is overarching head of a banking and finance team that has been significantly bolstered by the arrival of finance stalwart Malcolm Hitching from Ropes & Gray LLP in August 2020.

Responsables de la pratique:

Andrew Perkins

Les références

The team is experienced enough to achieve a very efficient balance of conservative assessment of their client’s interests and constructive progress in negotiations.

The team is very commercial and able to aid quick decision-making on key issues. It is also able to judge an audience impeccably and explain complex technical concepts with the right tone.

Andrew Perkins is a pleasure to deal with: he is pragmatic, reliable and is available to get involved into the details when needed.

Kirstie Hutchinson has a great commercial manner and excellent knowledge of the latest precedents to enable the best outcome for clients.

 

Principaux clients

Hyve Group Plc

Epiris Managers

Knight Square Holdings

Silverfleet Capital Partners

BBX Inc.

RSK Group

GHO Capital Management

Origin Equity

Searchlight Capital Partners

Exponent Private Equity

Principaux dossiers

  • Advised Searchlight Capital Partners on the English law elements of its $2bn acquisition of Mitel Networks Corporation. .
  • Advised Exponent Private Equity on £146m term and revolving facilities made available by funds managed by Alcentra for the acquisition of KPMG’s pensions advisory practice.
  • Represented Epiris on the £140m term and revolving facilities made available by funds managed by Ares Management Limited for the public-to-private acquisition of IFG Group Plc.

Paul Hastings LLP

Paul Hastings LLP's 'focused and solutions-driven' team continues to gain market share in London and is seen with increasing regularity on complex deals for lenders and sponsors. Key to this success is the 'knowledgeable and sharpLuke McDougall , whose commerciality is consistently evidenced on deals implementing complex debt arrangements throughout the capital structure. Richard Kitchen is another important member of the team, particularly in light of his 'very good knowledge of the direct lending market'. The team was recently boosted by the hire of Shearman & Sterling LLP EMEA finance head Peter Hayes.

Responsables de la pratique:

Luke McDougall; Peter Schwartz

Autres avocats clés:

Richard Kitchen; Peter Hayes

Les références

The client-focused and solution-driven team has a very good knowledge of the market.

As a team, they are knowledgeable about the more arcane areas of leveraged finance, including PIK debt and preferred shares.

The team is very easy to form long lasting relationships with. The lawyers are always very approachable and focused on their client.

The knowledgeable and sharp Luke McDougall is client driven and pleasant to work with.

The very bright Richard Kitchen has very good knowledge of the direct lending market.

Richard Kitchen and Luke McDougall are technically excellent and commercial lawyers; Richard has an additional arrow to his bow, which is that he is particularly good at organising a lender process for the borrower to support a bid.

Principaux clients

Goldman Sachs

Bank of America Merrill Lynch

Morgan Stanley

HSBC

Barclays

RBC

Credit Suisse

Deutsche Bank

Mizuho

Natwest

Nomura

Citibank

Boparan Group

Blackrock

TPG Specialty Lending

Abry Partners

NJJ

Oakley Capital

Barings

Albacore

MV Credit

Credit Agricole

KKR

Brookfield Asset Management

SilverTree Equity

EQT Credit

Abry Senior Equity Fund

JP Morgan

ETIHAD airline group financing vehicle

Ares

Principaux dossiers

  • Advising the arranging banks, including Bank of America Merrill Lynch and Barclays, on a $3bn financing package for Bain Capital’s acquisition of a majority stake in Kantar from British multinational advertising and public relations firm WPP.
  • Advising Credit Suisse, Goldman Sachs and Citibank as arrangers and underwriters in relation to a £2.5bn 1st/2nd lien financing for Advent International’s public-to-private bid to acquire Cobham Plc.
  • Advising Barings Global Advisers in respect of the second lien financing supporting the acquisition of PhysIOL Group SA by BVI (Beaver-Visitec International).

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

Skadden, Arps, Slate, Meagher & Flom (UK) LLP's nimble three-partner finance team regularly handles complex cross-border leveraged acquisition finance for private equity sponsors, family offices and corporate borrowers. Mark Darley is often at the forefront of the most significant cross-border mandates handled by the team and excels at advising clients on deals which involve the utilisation of US originated lending techniques, including Term loan B and New York law governed high yield bonds.  

Responsables de la pratique:

Mark Darley

Autres avocats clés:

Clive Wells; Pete Coulton; Andrew Brown; Paul Yin

Principaux clients

Castik Capital

CTH Invest & other investment vehicles of the Ferrero Family office

Hg Capital

Colony Capital

DH Private Equity Partners

Arrow Capital Management

Wabco Holdings

Sophos Group Plc

UCB S.A.

Ball Corporation

F.I.L.A.

Affidea Intermediate Group B.V.

Ares Life Sciences

Ashtead Group Plc

CME Group

Principaux dossiers

  • Represented Ball Corporation in relation to the refinancing of its debt facilities (originally incurred in connection with its acquisition of Rexam Plc).
  • Represented UCB SA, a Belgian listed pharma company, on certain funds financing of its bid for US listed pharma company Ra Pharmaceuticals, Inc.
  • Represented CTH Invest S.A. (a Ferrero affiliate) in connection with the financing of Kelsen Group A.S., from Campbell Soup Company.

Slaughter and May

Flying somewhat under the radar in the acquisition finance space, in part due to the generalist nature of its finance offering, Slaughter and May counts some 'wonderful debt finance lawyers' among its ranks, who are particularly proficient in structuring deals for the firm's impressive roster of FTSE 100/250 clients. On the private equity front, although the firm lacks visibility among large cap multi asset sponsors, it does receive a significant flow of work from a number of more niche, sector focused funds. Team head Philip Snell has developed a particularly strong track record over the years in relation to public bid finance transactions.

Responsables de la pratique:

Philip Snell

Principaux clients

OVO Group Limited

Palamon Capital Partners / The Simplify Group

Hong Kong Exchanges and Clearing Limited

GlaxoSmithKline Plc

Midlothian Capital Partners (Education) Limited

Dobbies Garden Centres Limited

The Restaurant Group Plc

Principaux dossiers

  • Advised Ovo Energy, the UK’s leading independent energy supplier, in connection with its purchase of SSE Plc’s GB household energy and services business.
  • Advised The Simplify Group, a portfolio company of Palamon Capital Partners, on the financing of its acquisition of My Home Move from Smedvig Capital.
  • Advised Hong Kong Exchanges and Clearing on the debt financing of its aborted hostile takeover bid for London Stock Exchange Group.

Travers Smith LLP

Travers Smith LLP provides a 'very efficient service' to the firm's large and loyal roster of  private equity sponsor clients, including Bridgepoint Advisors and Equistone. The team's sheer deal flow in this segment of the market across myriad industry sectors, ensures that it is well-versed in current market trends, and is thereby able to efficiently reflect clients' requirements in the documentation. Team head Matthew Ayre  regularly advises private equity sponsors and infrastructure funds, as well as a growing number of banks, on acquisition finance mandates.

Responsables de la pratique:

Matthew Ayre

Autres avocats clés:

Donald Lowe; Andrew Gregson; Barry Newman

Les références

The team provides a very efficient service.

Barry Newman is a very capable lawyer, who is well regarded and trusted.

 

Principaux clients

Bridgepoint Advisers

Equistone

Inflexion

Graphite Capital

Horizon Capital

Intermediate Capital Group

Ancala Partners

Basalt Infrastructure

AJ Capital Partners

Mansford LLP

HSBC

Shawbrook Bank

Silicon Valley Bank

AutoTrader Plc

Safestore

Principaux dossiers

  • Advised Inflexion, on the financing of its acquisition of Marley Limited, a UK-based roofing specialist from Etex Group SA, a building materials firm based in Belgium.
  • Advised TA Associates on its investment in Netrisk, Hungary’s leading online independent insurance marketplace.
  • Advised Shawbrook Bank on the provision of unitranche and committed capex facilities provided to Rutland Partners, including helping to build their precedent documentation and executing Shawbrook’s first deals in the market.

Addleshaw Goddard

Spearheaded by Alex DumphyAddleshaw Goddard's leveraged finance team has a solid reputation advising a balanced mix of lender and corporate/private equity sponsor clients. While it still remains a popular choice among clearing banks, the team has effectively followed the dynamics of the market and has begun to gain increased market penetration among alternative lenders, a sub-sector of the market that was enhanced by its hire of debt fund expert Peter Crichton  from McDermott Will & Emery UK LLP in May 2019. Strong regional offices, particularly in Manchester and Leeds, also provide an added degree of cost effectiveness in relation to lower margin-based work.

Responsables de la pratique:

Alex Dumphy

Autres avocats clés:

Peter Crichton; Cerys Poolis

Principaux clients

Bluebay (now renamed Arcmont)

CVC

Cordet Capital

Alcentra

Inflexion Private Equity Partners

ECI Capital Partners

Dunport Capital

Telemos Capital

Barings Advisors

Principaux dossiers

  • Advised Inflexion Private Equity on the financing to fund its acquisition of a minority stake in Marstons group.
  • Advising the club of lenders on the recapitalisation of the Pollen Street Capital owned Miles Smith insurance brokerage business.
  • Advised the club of lenders which comprised both banks and funds on the recapitalisation of the Horizon Private Equity owned DMC- Canotec group.

Bryan Cave Leighton Paisner LLP

Instructed by a varied mix of banks, credit funds, corporates and private equity sponsors, Bryan Cave Leighton Paisner LLP has a strong mid-market practice advising both borrowers and lenders.  Consequently, the team 'is highly experienced across the full range of financing structures', from traditional senior LBO structures, through to more current technologies including term loan B, unitranche and PIK loans. Emma Howdle-Fuller heads the team.    

Responsables de la pratique:

Emma Howdle-Fuller

Les références

The team works incredibly efficiently and responsively on all deals, irrespective of size or complexity.

The banking team is highly experienced across the full range of financing structures and takes a commercial approach to deal negotiation and transaction management.

The very responsive Shanan Dunstan combines commercial nous with technical expertise and provides an exceptional level of client service.

 

Principaux clients

Uniqmind

Barclays Bank

HSBC Bank

BCA Marketplace Plc

Henderson Park Capital Partners UK LLP

ServerFarm Global Holdings Limited

Kape Technologies Plc

Principaux dossiers

  • Advised Barclays in relation to term facilities to pub group Red Lion (a JV between Revcap and Grosvenor) to build its portfolio of pubs across the UK.
  • Advised BCA Marketplace Plc on complex financing arrangements to be provided in respect of the £2bn acquisition of its entire share capital by BBD Bidco Limited, a special purpose vehicle owned and controlled by private equity firm TDR Capital LLP and on the subsequent accession of 26 group companies to the new financing arrangements.
  • Advised Henderson Park Capital Partners UK LLP on a €1.34bn bridge financing provided by Blackstone to fund its public-to-private takeover of Green REIT Plc (an Irish real estate investment company listed on the Irish stock exchange) by way of an Irish scheme of arrangement.

Cleary Gottlieb Steen & Hamilton

Benefiting from a generalist practice that enables the firm to provide a versatile service to borrowers, including huge multinational corporates like Arcelor Mittal, as well as private equity sponsors, such as TPG and Hillhouse Capital, Cleary Gottlieb Steen & Hamilton's compact London finance team excels at handling complex multi-jurisdictional matters implementing sophisticated financing techniques throughout the capital structure, including those involving emerging markets. David Billington  is the primary contact.

Autres avocats clés:

David Billington; Polina Lyadnova

Principaux clients

TPG Rise

Hillhouse

Belron (parent company of Autoglass)

UC Rusal

Eurasian Resources Group

ArcelorMittal

QIA

Government of Barbados

Republic of Senegal

The Hellenic Republic (Greece)

Principaux dossiers

  • Advised TPG on a €140m leveraged financing for the acquisition of an international pharmaceuticals group.
  • Advised global steel company ArcelorMittal in relation to its jumbo $7bn financing for the acquisition of Essar Steel.
  • Advised Hillhouse Capital on the financing to facilitate  its acquisition of spirits group Loch Lomond from Exponent Private Equity.

Herbert Smith Freehills LLP

Kristen Roberts heads up Herbert Smith Freehills LLP's corporate debt and acquisition finance team, which is best-known for its advice to domestic and international corporates on financing requirements. The firm also excels at handling financing relating to energy and infrastructure-related acquisitions, and has built up solid relationships with numerous funds that are active in the space. On the bank side, the team's market-leading reputation in the reserve based lending space continues to be enhanced by closer relationships with some major European and US investment banks on leveraged finance matters.

Responsables de la pratique:

Kristen Roberts

Les références

G4S Plc

BNP Paribas

Hipgnosis Songs Fund Limited

Skandinaviska Enskilda Banken AB and a group of five other banks

Synthomer Plc

Trident Energy

Lloyds Bank

Macquarie Infrastructure Debt Investment Solutions

National Westminster Bank Plc

Impilo

Bazalgette Tunnel Limited

Corporate Travel Management Limited

Credit Suisse International and other lenders (Lloyds, DNB and HSBC)

Principaux dossiers

  • Advised FTSE-listed company Synthomer Plc on the £1.28bn financing to facilitate its acquisition of NYSE-listed Omnova Solutions Inc.
  • Advised lenders to Antin Infrastructure in connection with the refinancing of the acquisition finance and working capital facilities made available to Roadchef Limited, the UK motorway service area operator.
  • Advised Impilo AB on the financing of its acquisitions of The Fertility Partnership and VivANeo GmbH, creating Northern Europe’s leading fertility group.

Mayer Brown International LLP

Under the leadership of Stuart BrinkworthMayer Brown International LLP has recalibrated its lender-side acquisition finance offering to focus much more squarely on the credit funds that are dominating the mid-market. While it is less visible on the commercial/investment bank lending front, it is well-equipped to advise traditional lenders on complex and bespoke structured finance mandates by virtue of its ability to draw on the expertise of lawyers based in the firm's market-leading ABL group. On the borrower front, Andrew Crotty regularly handles work for mid-market sponsors.

Responsables de la pratique:

Stuart Brinkworth

Autres avocats clés:

Andrew Crotty; Danister de Silva

Principaux clients

Permira Debt Managers

Francisco Partners Management

Apollo Mid-Cap

Five Arrows Principal Investments

Vitruvian Partners

OAG

Novartis

Principaux dossiers

  • Advised Permira Debt Managers on a number of matters, including a facility made available to the Davies Group, owned by HGGC.
  • Advised Francisco Partners on numerous matters including in relation to its preferred equity investment in France-based software business, Talentsoft.
  • Advised Apollo Mid-Cap on the financing for the acquisition by Germany-based, Castik Capital, of AllDent, the Germany-based dental care group.

Morrison & Foerster LLP

Morrison & Foerster LLP made a splash in the London finance market with the hire of  the vastly experienced Christopher Kandel from Latham & Watkins. Kandel's arrival adds weight and expertise to a fledgling London practice which is beginning to make inroads into the banking, credit funds and private equity sponsor markets, in part due to the firm's ability to handle complex US/UK financing structures. Benoit Lavigne  is also recommended.

Principaux clients

EQT Credit

Pemberton Asset Management and GoldPoint Partners

Tate & Lyle Plc

DNB Bank

Hellman & Friedman

SoftBank Group Corp.

Macquarie Capital

Barings Private Credit

Principaux dossiers

  • Advised Credit Suisse, HSBC and JPMorgan as mandated lead arrangers of a €400m covenant lite senior facilities agreement for SGH LLC/Scenic Cruises in order to refinance existing debt and finance capital expenditure.
  • Advised EQT Credit, as sole term lender, in respect of Oakley Capital’s acquisition of Seagull and Videotel.
  • Advised Nets in connection with first lien and second lien acquisition finance facilities backing a bid for a confidential target.

Norton Rose Fulbright

The 'exceptionally responsive' team at Norton Rose Fulbright provides 'pragmatic and commercial advice' to banks, funds and corporates across a range of acquisition finance mandates, often with a multi-jurisdictional complexion. As well as its ability to partner up with practitioners in situ across a range of global jurisdictions (including Africa), the team adds particular value on mandates in core areas of sector focus for the firm as a whole, including energy, transport, financial services and life sciences. Michael Black has a strong reputation in the market, and has niche expertise advising lenders on acquisition finance mandates incorporating ABL techniques. Chris Brown  heads up the overarching banking and finance group.

Responsables de la pratique:

Chris Brown

Les références

‘The exceptionally responsive team provides pragmatic and commercial advice.’

Principaux clients

Coca Cola

CACIB

Macquarie

Shell

JP Morgan Chase

Wells Fargo

Citibank

BAMIL

Mizuho Bank

Sumitomo Mitsui

Mercuria Energy

Ecobank

AIRRO

Carnival Plc

Cross Ocean

Bank of China

Barclays Bank

Bayerische LB

Cannaway Investments

HSBC Bank

ICBC

Kozani Limited

MUFG

QBE

Raiffeisen Bank

Stanbic

Standard Bank

Islamic Bank of Asia

Citizens Bank

Shawbrook Bank

Western Alliance bank

RBS

TCW Asset Management

Standard Chartered Bank

AIG Europe

Reach Plc

Carlsberg Breweries

Gemcorp Capital

IFC

The Tsotsorkov Family

L1 UK Property Fund

Battersea Project Holding Company

National Westminster Bank

First Rand Bank

Principaux dossiers

  • Advised Shell Energy Europe in relation to the £500m acquisition of SSE Plc by Ovo Energy Group.
  • Advised the Tsortsokov family on its €156.5m facility arranged by Citibank to finance the acquisition of a majority interest in Asarel Medet, the publicly-listed Bulgarian copper mining business.
  • Advised Citigroup Global Markets and Goldman Sachs International as financial advisers to Advent International on its £4bn acquisition of the UK’s third largest defence firm, Cobham.

Pinsent Masons LLP

At Pinsent Masons LLPVanessa Heap is the primary contact for leveraged finance mandates and is particularly active for mid-market sponsors on deals funded by direct lenders. The team also continues to benefit from strong clearing bank relationships, although these clients typically instruct the firm on corporate lending activity as opposed to acquisition finance mandates. Martin Bishop heads up the London banking and finance team.

Responsables de la pratique:

Martin Bishop

Autres avocats clés:

Vanessa Heap; Liam Terry

Les références

‘The team at Pinsent Masons has good depth and a very strong understanding of the leveraged finance environment, as well an ability to handle complex and detailed matters. Availability of personnel is good and response times can be flexed to meet the requirements of the deal.’

‘A highly experienced and knowledgeable team.’

‘There is a huge depth of knowledge of banking/corporate/acquisition finance law across the team.’

‘They are pragmatic and commercial in their approach to problems/issues in a transaction.’

Principaux clients

Sabio Limited

Computer Systems Integration Group Limited

MML Capital Partners

Permira Debt Capital

Equistone Partners Europe

Principaux dossiers

  • Advising MML Capital Partners on the financing (provided by CVC Credit Partners) of its significant investment in Arrow Business Communications.  
  • Advising Computer Integration Systems Group Limited, an MML Capital Partners backed business, on the financing (provided by Permira) of its acquisition of Tectrade International Holdings Limited.
  • Advising Santander on acquisition facilities to Smartwater Limited to finance the acquisition of Perimeter Intruder Detection Systems Ltd.

Ropes & Gray LLP

'Aware of the balance between getting good terms for their clients and achieving progress', Ropes & Gray LLP's team is appreciated by borrowers, in particular, for its ability to advise on complex big-ticket deals involving UK and US debt products, including New York-governed high yield bonds. As well as advising on pure sponsor-led mandates, the team also continues to represent global multinational behemoths, Liberty Global and Altice, on their acquisition financing requirements. New York-qualified partner Michael Kazakevich heads a team that also includes the 'knowledgeableCarol Van der Vorst, who has effectively raised the firm's profile on the underwriter side since her arrival from Goldman Sachs in 2018. Mike Goetz recently retired.

Responsables de la pratique:

Michael Kazakevich

Les références

The firm is aware of the balance between getting good terms for their clients and achieving progress in projects.

The team have a great understanding of their client’s needs and to apply this to formulate solutions, where there is no established way of doing things.

 Carol Van der Vorst is knowledgeable, to the point and easy to work with.

 

Principaux clients

Baring Private Equity Asia

Epiris

Silverfleet Capital

TSG Consumer Partners

Duke Street

Exponent

3i

Skandinaviska Enskilda Banken AB

Goldman Sachs

Intermediate Capital Group plc

Medtronic

Fortress Investment Corporation

Therium Capital Management

Bidfair

Liberty Global

Liberty Latin America

Northgate Plc

Altice

VodafoneZiggo

Virgin Media

Nordic Capital

Telenet

Oaktree Capital

Principaux dossiers

  • Advised BidFair Limited and its affiliates in connection with the financing aspects of the $3.7bn acquisition of Sotheby’s.
  • Advised Goldman Sachs in connection with the bridge and revolving financing supporting the SEK13bn public takeover offer by the Af Jochnick family in respect of Oriflame Holding, an international beauty company.
  • Advised Intermediate Capital Group Plc and Bain Capital Credit as lenders on the financing of the £1.3bn acquisition of Study Group, a leading provider of international education in the UK, Europe, Australia, New Zealand and North America.

CMS

Led by Patrick DoneganCMS has a solid reputation advising private equity sponsors, banks and corporates on mid-market leveraged/acquisition finance mandates. Although the firm is sector agnostic, it has particular strength handling energy, TMT and hotels/leisure-related mandates.

Responsables de la pratique:

Patrick Donegan

Davis Polk & Wardwell LLP

Often teaming up with the firm's high-quality New York office, Davis Polk & Wardwell LLP's lean two-partner London finance team is visible on a number of high-profile mandates for investment banks and corporates seeking to implement complex integrated English and US law governed debt products. Team head Nick Benham  has particular expertise in relation to public bid financings.

Responsables de la pratique:

Nick Benham

Autres avocats clés:

Jeff O’Brien; Aaron Ferner; Patrick Ryan

Principaux clients

Barclays

Citigroup

Clarivate

Comcast Corporation

eDreams Odigeo

Evercore Partners International

Goldman Sachs

J.P. Morgan

Marsh & McLennan

Morgan Stanley

MUFG Bank

Nomura

Nuvei

Technicolour

Temenos

Tencent

Principaux dossiers

  • Advised Morgan Stanley and MUFG Bank, Ltd. as joint lead arrangers and joint bookrunners, in connection with a $38bn senior unsecured bridge loan facility for AbbVie Inc. The facility was made available to AbbVie to pay a portion of the cash consideration for its $63bn billion acquisition of Allergan Plc.
  • Advised Barclays Bank and Citigroup as financial advisers to Apollo Management IX, L.P. on its recommended offer to acquire RPC Group Plc, to be effected by means of a scheme of arrangement under the UK Companies Act.
  • Advised Charles River Laboratories International, Inc. as borrower in connection with a $500m increase in commitments to its existing multi-currency revolving credit facilities provided by a consortium of financial institutions, with JPMorgan Chase Bank N.A., as administrative agent.

Dentons

While Dentons may lack the market share and regular flow of leveraged finance work of some of its higher ranked peers, under the leadership of the versatile Catherine Astruc, it has a solid pedigree in the market for banks, corporates and sponsors. The arrival of Simon Middleton  from Simmons & Simmons in September 2019 also enhances the firm's capabilities, particularly in light of his knowledge and experience of the UK and international markets.

Responsables de la pratique:

Catherine Astruc

Principaux clients

DBS Bank

Chenavari / AREO Sarl

Aberdeen Standard Investments

HSBC Bank

Lloyds Bank

KPS Capital Partners

Principaux dossiers

  • Advised a mandated lead arranger on its £240m term loan facilities to finance the acquisition of a Luxembourg company.
  • Advised Investec Bank Plc and a large European debt fund on unitranche facilities provided to Dentex (a dental business in the UK) to provide an acquisition line to finance further acquisitions.
  • Acting as international counsel on the financing of the acquisition by KPS Capital Partners of the Howden Group.

Eversheds Sutherland (International) LLP

The arrival in July 2019 of the 'very engaged, helpful and commercialChristopher Akinrele  from Addleshaw Goddard, enhances  Eversheds Sutherland (International) LLP's capabilities on the acquisition finance front, adding further resources with which to handle a growing volume of mid-market sponsor-led financings. Nick Swiss heads the wider banking and finance team, which is geographically well-placed to handle work for UK-based private equity sponsors, with its Birmingham office particularly accomplished at handling borrower side mandates.

Responsables de la pratique:

Nick Swiss

Les références

Well respected in the industry. Strong partners and experienced associates.

The very engaged, helpful and commercial Christopher Akinrele is excellent.

Christopher Akinrele is down-to-earth, great fun to work with and never loses sight of what is important to me as a client.

Principaux clients

The Royal Bank of Scotland

Phoenix Private Equity

Inflexion Private Equity

Livingbridge Private Equity

Lloyds Development Capital

Daisy Group

Beech Tree Private Equity

Pollen Street Capital

Principaux dossiers

  • Advised Silverfleet Capital on the financing, including  unitranche and super senior debt finance facilities, to fund its acquisition of Microgen Financial Systems.
  • Advised Viva Gym (backed by Bridges Fund Management) on the financing to facilitate its bolt on acquisition of Duet Fit.
  • Advised Silverfleet Capital on the financing (including a unitranche debt facility) to facilitate Microgen Financial Systems’ merger with Touchstone Wealth Management.

Fried, Frank, Harris, Shriver & Jacobson LLP

The 'efficient, detailed and responsive' team at Fried, Frank, Harris, Shriver & Jacobson LLP is better positioned to represent its lender and borrower client base as a result of some recent hires, including  Neil Caddy's arrival from Milbank in February 2019. Alongside the 'detail-orientedJons Lehmann, Caddy has already handled numerous complex financing transactions for clients, implementing UK and US financial products and regularly working alongside colleagues based in the firm's New York office.

Autres avocats clés:

Neil Caddy; Jons Lehmann; Kathryn Cecil

Principaux clients

GBC

Informatica

MASMOVIL

Bank of America

Goldman Sachs

HSBC

Wells Fargo

Principaux dossiers

  • Advised Gold Brass and Copper Holdings on all aspects of the financing of the circa $1bn all-cash acquisition of GBC by Wieland-Werke AG.
  • Advised Spanish telecoms company MÁSMÓVIL in connection with the launch of a cov-lite term loan B  totalling €1.7bn.

Taylor Wessing LLP

Led by the 'excellentMartin YellsTaylor Wessing LLP advises banks and private equity sponsors on new money leveraged financings, as well as on refinancings of acquisition facilities. Praised for its 'outstanding work product', the team is also appreciated for its ability to leverage a strong European network on cross-border financings, as well as its ability to tap into the broader competencies within the firm.

Responsables de la pratique:

Martin Yells

Autres avocats clés:

Fiona Coady

Les références

The team is knowledgeable, responsive and has an excellent knowledge of current trends in the financial markets.

The firm provides sensible and commercial advice regarding new and current asset based lending deals.

Martin Yells provides a balanced approach, which means he is perfect for new business with prospective clients.

Fiona Coady is superb, able and very approachable.

Willkie Farr & Gallagher (UK) LLP

Strengthened by the arrival of Ashley Young  from Kirkland & Ellis International LLP in November 2019, Willkie Farr & Gallagher (UK) LLP's 'extremely responsive' London finance practice is increasingly well-positioned to assist the firm's flourishing mid-market focused corporate private equity practice. The 'fantasticSebastian FitzGerald has significant experience handling complex cross-border financings and regularly works alongside lawyers based out of the firm's Paris and Frankfurt offices.

Autres avocats clés:

Sebastian FitzGerald; Ashley Young

Les références

The firm has a level of global expertise and experience that others will find hard to match.

Sebastian FitzGerald and his team are extremely responsive and ensure all agreed deadlines are met.

The fantastic Sebastian FitzGerald is very efficient and flexible.

 

Principaux clients

IK Investment Partners

PAI Partners

CVC Capital Partners

Insight Partners

Bregal Freshstream

CMA CGM

EQT

OSG Group

Excellence Logging Group

Pemberton Asset Management

Principaux dossiers

  • Advised CVC on the financing to fund its acquisition of Bosch’s packaging technology business.
  • Advised Bregal Freshstream on the financing to facilitate its acquisition of holiday park operator Away Resorts from LDC.
  • Advised Searchlight Capital Partners on the financing of the take-private of Swedish listed company Opus Group AB.