The Legal 500

Latham & Watkins’ superb team advised on a record number of LBO transactions in 2011. Thomas Forschbach is the star name in the practice, and Olivier du Mottay, Nathalie Alibert, Gaëtan Gianasso, Alexander Benedetti, Charles-Antoine Guelly and Denis Criton are also recommended. Key clients include Sagard Private Equity and Bridgepoint, and the team also advised AXA Private Equity on its acquisition of Photonis.

Linklaters LLP advised on most of the market’s landmark transactions in 2011, including advising CVC Capital on its investment in Delachaux. Fabrice de la Morandière, Vincent Ponsonnaille and David Swinburne are leading figures in the area.

SJ Berwin has ‘very good knowledge’ of the private equity sector and has built a superb client portfolio. It advised Barclays Private Equity and Converteam on the sale of Converteam to GE. The practice is a recognised leader in the mid-cap market and a growing player on large-cap transactions. Practice co-heads Maxence Bloch and Christophe Digoy are recommended, as are Jérôme Jouhanneaud, Thomas Maitrejean and Pierre-Louis Périn.

Weil, Gotshal & Manges handles large LBO transactions and restructuring. It recently advised 3i on the acquisition of Etanco, and Apax Partners on the sale of Vizada. AXA Private Equity and Chequers Capital are also clients. David Aknin heads the team, which also includes Jean Beauchataud, Frédéric Cazals and Emmanuelle Henry.

Willkie Farr & Gallagher LLP advises on large-cap transactions for clients such as PAI Partners, Oaktree Capital and Bain Capital – it advised PAI Partners on the sale of its interests in Yoplait. It is also increasingly present in the mid-cap market serving clients such as Apax Partners and IK Investments. Daniel Payan, Christophe Garaud, Cédric Hajage and Eduardo Fernandez are recommended.

Ashurst LLP is praised for the ‘excellent quality of its service and very high responsiveness’. Its main focus is large-cap transactions but it is increasingly involved in the mid-cap market. The team advised key client Charterhouse on the acquisition of a majority stake in Webhelp. The practice leaders are ‘very reliable and creative lawyer’ Nicolas Barberis, Guy Benda, Bertrand Delaunay and Yann Gozal, who is ‘a great team leader’. Frédéric Pinet joined Desfilis & McGowan.

Ayache Salama & Associés has a strong practice for mid-cap transactions led by Bernard Ayache and Olivier Tordjman. The 20-lawyer team, which has a solid funds client base, advised Activa Capital on the LBO acquisition of Findis and Astorg Partners on the sale of Trescal to 3i.

Bredin Prat is strongly recommended for LBO transactions, notably for deals involving securities aspects. It advised Ande Investissements on the acquisition of a controlling stake in Delachaux, and key client Eurazeo on the sale of B&B Hotels. Patrick Dziewolski, Sébastien Prat, Olivier Assant and the ‘very client-focused’ Benjamin Kanovitch are recommended.

Cleary Gottlieb Steen & Hamilton LLP advises several major private equity players including Arcapita, BC Partners and Qualium Investissement on large-cap transactions. Jean-Marie Ambrosi is the main contact, with Pierre-Yves Chabert also involved in some large transactions. The firm advised Bridgepoint and Eurazeo on the acquisition of Foncia.

Clifford Chance advised a consortium on the acquisition of Spie and acted for Carlyle on the acquisition of B&B Hotel. Other clients include 3i, Apax Partners and Duke Street. Gilles Lebreton, Laurent Schoenstein and Thierry Schoen are the team’s leading figures.

Freshfields Bruckhaus Deringer LLP’s Fabrice Cohen and Jean-Claude Cotoni advise on large-cap transactions. Key clients include Cinven and Qualium Investissement, and the team also advised Permira on the sale of Provimi.

‘Success story’ Frieh Bouhénic had a very busy year with LBOs in 2011. Michel Frieh is highly rated for medium-sized deals. Highlights included being part of the team which advised Clayton Dubilier & Rice, AXA Private Equity and Caisse de Dépôt et Placement du Québec on the acquisition of Spie.

Gide Loyrette Nouel A.A.R.P.I. is a leading firm in the venture capital space through Pierre Karpik, who represents start-up companies and investors including A Plus Finance and Alven Capital. Serge Tatar is the key name for LBOs, and the firm also has expertise in fund structuring and LBO restructuring.

Jones Day is a leading adviser on venture capital transactions, having built the ‘most prominent client base of start-ups that will become tomorrow’s leading companies’ in the technology and biotechnology fields. Key figure Renaud Bonnet shows ‘business acumen and creativity’, and Charles Gavoty is an emerging talent. The team covers the full spectrum of private equity transactions, and advised DFJ Esprit and Alven on their investment in Qosmos.

Mayer Brown is regularly involved in major transactions for key client LBO France, which it advised on the sale of Converteam. Xavier Jaspar, Guillaume Kuperfils and tax adviser Laurent Borey lead the practice, which also includes Olivier Aubouin, who is recommended for his ‘succinct and accurate’ advice. Emily Pennec was promoted to the partnership in 2011.

Scotto & Associés has recognised expertise in advising management during large LBO transactions, and it advised Spie and its management on the acquisition of the company by a consortium. Practice head Lionel Scotto, Isabelle Cheradame and Nicolas Menard-Durand are the key figures. Jean-François Louit is also involved when capital markets or public M&A expertise is required.

White & Case LLP advises on mid and large-cap transactions. It acted for IK Invest on the sale of Etanco, and Carlyle on the acquisition of Sagemcom. Vincent Morin leads the practice, which also includes Franck De Vita. The team can call on the firm’s complementary expertise in tax and finance.

SJ Berwin’s market-leading practice covers the creation of all types of private funds, including private equity funds, funds of funds, and infrastructure or emerging markets funds. The group advised PAI Partners on the establishment of Swissco Co-Invest FCPR. Practice head Georges Pinkham, Nathalie Duguay, Arnaud David and tax expert Sylvie Vansteenkiste are recommended.

Ashurst LLP’s ‘tax and fund formation teams are among the most qualified in the French market’, show pan-European business acumen, and provide the ‘highest standard of service’. It advises on investment fund formation and secondary transactions. Key clients include Qualium Investissement, LBO France and CDC Entreprises. ‘Rising star’ Xavier Comaills and tax expert Catherine Charpentier lead the team.

Morgan Lewis’ ‘very good practice’, which is characterised by ‘technical expertise’ and ‘strong attention to detail’, advises on formation of private equity or venture capital funds as well as funds of funds. Practice head Ann Baker has a ‘high level of knowledge and expertise’.