The Legal 500

Ashurst LLP has an enviable reputation as one of the indisputable kings of private equity. The team has ‘ outstanding capacity to understand business issues beyond legal formations and works in close co-operation with the client.’ The team advised Charterhouse on the acquisition of Vivarte from PAI Partners and Stone Point Capital on its acquisition of Axa RE from Axa. Frédéric Pinet, Guy Benda and Bertrand Delaunay are recommended.

Latham & Watkins has a comprehensive practice covering equity and debt private equity transactions ranging from large to mid-cap deals. The team is ‘ outstanding’, ‘dedicated’, and ‘ get deals done’. Its portfolio is made up of some of the most important and active private equity funds on the market including Goldman Sachs Private Equity and Pragma Capital. Deal highlights include advising Axa Private Equity on its €4.9bn acquisition of a majority stake in TDF and its €5.6bn acquisition with Onex Corporation of Allison Transmission from General Motors. Lawyers also advised Sagard & Cognetas on its €691m acquisition of Saint-Gobain Dejonquères and Saint-Gobain La Granja from Saint-Gobain Emballage. Partners Thomas Forschbach and Patrick Beauvisage enjoy a very good reputation. Olivier du Mottay is praised for his ‘ astonishing professionalism and business understanding.’

Linklaters LLP is a top private equity player on both debt and equity. The practice houses ‘ high-quality individuals with thorough experience in the area’, including Fabrice de la Morandière and Olivier Jauffret, the practice’s leading partners. The firm works for investors, funds, financial institutions and private equity houses. Highlights include advising a consortium of Caisse des Dépôts et Consignations on the acquisition of the Saur group from PAI Partners. The team also acted for CVC Capital Partners on the €1.35bn acquisition of Fraikin, and Axa Private Equity on the sale of Larivière Group to SIG. Additional clients include Apax Partners, CVC Capital Partners and Calyon

Mayer Brown is ‘ developing very well and has seen some really good years advising on LBOs’. The firm is reputed for advising management on LBO transactions and is increasingly active with funds. ‘ In-depth knowledge of LBO combined with finance and tax capability’, makes the team stand out. 2007 high-profile deals include representing Eurazeo on its €2bn acquisition of Elis from PAI Partners, LBO France on its acquisition of Consolis, and Starwood Capital on the sale of Taittinger. Xavier Jaspar, Guillaume Kuperfils and Alexis Dargent are recommended.

Maxence Bloch and Christophe Digoy have established SJ Berwin as a leading firm on mid-market transactions, working extensively for Barclays Private Equity. With its recognised expertise, including a ‘ deep knowledge of the best practices in structuring LBO transactions’, the team also gains work in top deals such as advising the target in the €1bn acquisition of Fraikin by CVC.

Weil, Gotshal & Manges was involved in a large number of private equity deals in 2007. ‘ Rainmaker’ David Aknin is well known and greatly respected within the market. The team was adviser to Axa Private Equity in the acquisition of Diana Ingrédients from Cognetas for a value of €710m. The group also advised PAI Partners on the sale of Saur to a consortium for €1.72bn. Clients say that the team is ‘ solid in its vision.’

Willkie Farr & Gallagher LLP has ‘ one of the most sophisticated teams for complex situations.’ Lawyers here are known as ‘ deal makers who are personally involved in all the details of the deal with high efficiency.’ The firm is a regular adviser to PAI Partners whom they recently assisted in the sale of Elis GIE to Eurazeo, and previously on the acquisition of Lafarge’s roofing division. The team includes ‘ prominent partners’, such as Eduardo Fernandez and Daniel Payan.

Bredin Prat’s reputation is now reaching the shores of the other side of the Atlantic with US private equity funds such as KKR and TPG increasingly turning to this French independent firm. The team recently advised TDG on its acquisition of TDF and continues to gain regular instructions from Eurazéo, for example on its acquisition of Apcao. It was also involved alongside EPI on the disposal of Vivarte to Charterhouse. Sébastien Prat is ‘ at the cutting edge of the innovations with a very acute commercial sense.’ Olivier Assant and Benjamin Kanovitch have also charmed clients with their ‘ outstanding skills and excellent analytical capabilities.’

Cleary Gottlieb Steen & Hamilton LLP’s Jean-Marie Ambrosi is ‘ very strong, with an expert corporate team.’ The team advised European Capital in its leveraged acquisition of Soflog-Télis.

Thierry Schoen is singled out for his capabilities in LBO transactions at Clifford Chance. Clients appreciate his ‘ seriousness’ and ‘excellent team.’ The practice advised private equity funds Sagard and Ergon on the secondary LBO of the Alipast Group, for the value of €430m.

Gide Loyrette Nouel A.A.R.P.I. advised PAI Partners on its acquisition of a controlling interest in Kaufman & Broad. Serge Tatar is recommended.

Lovells LLP has a private equity practice specialising in mid-market deals. The team acted for Alstom on the disposal of its worldwide power conversion to a LBO vehicle controlled by Barclays Private Equity. Jon Harry is the practice frontrunner.

Sarrau Thomas Couderc is a ‘ beautiful start-up’ and ‘ really good in advising the management’ on LBO transactions. The firm provides legal and tax advice to investment funds and managers. It recently represented the management on the acquisition of Go Voyages by Financière Agache. Jean-Bernard Thomas and Christian Couderc are recommended.

The team led by Vincent Morin and François Leloup at White & Case LLP is one of the most active in Paris on the mid-cap market. Clients appreciate the pragmatic attitude towards a deal and dedication in ‘ making matters simpler and more transparent instead of making the meter run.’ The firm works for major funds such as Apax Partners, Carlyle and Blackstone. 2007 was a busy year for the team who notably advised EPI on its acquisition of Bonpoint from Rothschild PE Funds.