The Legal 500

Within Commercial contracts, Travers Smith LLP is a first tier firm,

Travers Smith LLP has a dedicated commercial practice, acting across all contract types for clients in a broad range of sectors. It draws praise for its ‘varied experience’ and ‘in-depth understanding of industry dynamics and appreciation of how best to tailor advice to the commercial realities of a business relationship’. Highlights for 2010 included advising Metro Bank on key outsourcing and supply arrangements necessary for the establishment of its business, and advising Firstsource Solutions on a five-year outsourcing services agreement with Barclays. Tom Purton heads the commercial team, and ‘proactively delivers very sensible solutions to difficult and complex questions, with an acute sensitivity to client needs’. Richard Brown is also recommended, for his ‘attention to detail and top-to-tail involvement’.

Within Corporate tax, Travers Smith LLP is a third tier firm,

Travers Smith LLP provides ‘well-calibrated’, ‘clear’ and ‘concise’ advice, with private equity matters an area of great expertise. The team acted for Bridgepoint on the sale of Pets at Home to KKR for £955m; the Peel Group on the sale of the Trafford Centre to Capital Shopping Centres; and Firstsource Solutions on an outsourcing agreement with Barclaycard. Simon Yates is appreciated for his ‘sensible, pragmatic advice’, and Kathleen Russ is also recommended.

Within EU and competition , tier 6

Travers Smith LLP is undertaking an increasing amount of behavioural work, and retains a solid merger control practice. Margaret Moore (‘extraordinarily personable, responsive, reliable and effective’) advised Carpetright in a complex OFT merger inquiry into completed acquisitions from Allied Carpets. Nigel Seay is ‘competent, precise, to the point, and pleasant to work with’.

Within Financial services, Travers Smith LLP is a second tier firm,

Travers Smith LLP’s team is ‘superb’. Jane Tuckley is ‘truly excellent’; Tim Lewis is ‘a thought leader in his area’; Margaret Chamberlain is ‘a strong department head’; Mark Evans has ‘unparalleled technical knowledge’; and Stephen Paget-Brown is also recommended. On the contentious side, the team advised on loss of client data, market abuse, systems failures and challenges to FSA notices in connection with the approval of individuals as approved persons.

Within Flotations: small and mid-cap, Travers Smith LLP is a second tier firm,

Travers Smith LLP is a ‘top-class outfit’ rated for its ‘high level of partner input’. The ‘excellent’ Spencer Summerfield recently advised NBNK Investments on its £50m IPO; Neal Watson advised Fairfax as NOMAD and Promethean Investments as shareholder on the £50m IPO of Cambria Automobiles; and Aaron Stocks advised Metric Property Investments in its £190m IPO and admission to the main market. Andrew Gillen is ‘very measured and commercial’. The firm added US capability to the team in March 2011 with the hire of Charles Casassa from Clifford Chance.

Within M&A: upper mid-market and premium deals, 250m+, tier 4

Travers Smith LLP’s strength in private equity has long proved a useful bedrock to the M&A practice, but in recent years work for general corporates has been on the rise. It acted on some 51 deals, marking a very successful year. Headed by the well-regarded Spencer Summerfield, it advised longstanding client Peel Group on its strategic partnership with Capital Shopping Centres Group and £1.65bn acquisition of The Trafford Centre. Richard Spedding is ‘unflappable’; Philip Cheveley ‘demonstrates top-level skills’; and Andrew Gillen is ‘exceptional’. The team recruited its first US-qualified partner in 2011, with Charles Casassa joining from Clifford Chance.

Within Partnership Partnership

Within Private equity: transactions , Travers Smith LLP is a second tier firm,

‘Very responsive, commercial and user friendly’, with ‘strength and depth across the team’, Travers Smith LLP provides ‘well-calibrated advice’ to management and, increasingly, sponsor clients, predominantly in UK-centric mandates. It is active for many of the largest UK sponsors, recently advising Bridgepoint on the £955m secondary sale of Pets at Home to KKR; and new client Silverfleet Capital on the acquisition of Office, the footwear business, from West Coast Capital. On the management side, it advised Brit Insurance on the potential £88m take-private by Apollo and CVC. Standout partners include the ‘utterly commercial’ Philip Sanderson; Chris Hale, who is ‘a genuine thought leader in the market’; Paul Dolman; and Helen Croke.

Within Fraud: civil , Travers Smith LLP is a third tier firm,

Travers Smith LLP has ‘proven experience in big-ticket High Court fraud litigation, as well as in numerous smaller cases and investigations’. Highlights included successfully defending RBS in a £10m fraud claim asserted by an Austrian bank; and defending the directors of the collapsed Weavering Macro Fixed Income Fund. Andrew King is ‘the consummate litigator, terrific with witnesses and clients alike’; and Stephen Paget-Brown is ‘effective in managing a large team’.

Within Banking litigation: investment and retail, Travers Smith LLP is a third tier firm,

Travers Smith LLP is widely thought of as a firm to watch in this area, and one of the few prepared to act against the banks. Recent work includes acting for Sebastian Holdings Inc in claims in the US and London against Deutsche Bank arising from a series of exotic derivatives transactions, involving the construction of ISDA agreements. The team has strength in depth; ‘some of its younger lawyers are developing excellent knowledge of the products and practices of investments banks’. Rob Fell and Andrew King are both recommended.

Within Commercial litigation, tier 4

Travers Smith LLP’s team is ‘commercially sound and technically excellent’. It acted for the joint administrators of Lehman Brothers International (Europe) in a dispute with another bank involving assets valued at over $2bn. Litigation head Jonathan Leslie, Stephen Paget-Brown, Andrew King, Rob Fell, Toby Robinson and Caroline Edwards are recommended.

Within Acquisition finance, tier 6

Led by Jeremy Walsh, Travers Smith LLP’s sponsor-facing practice handles significant domestic work and also, increasingly, cross-border mandates. The team has advised Bridgepoint on a number of notable deals including its acquisition of Pets at Home.

Within Corporate restructuring and insolvency, tier 4

Travers Smith LLP’s Keith Bordell is experienced in turnaround, insolvency and corporate recovery work. His track record includes acting for Kroll Cayman as liquidators of the Peloton hedge fund.

Within Investment funds, Travers Smith LLP is a second tier firm,

Travers Smith LLP is ‘excellent, commercial and responsive, with strength in depth’. Its practice spans private equity buyout, infrastructure, real estate and hedge funds, as well as listed funds. Group head Sam Kay displays ‘particular expertise in the structuring of offshore alternative funds’, and is ‘highly responsive, and reliably provides sound legal guidance taking account of commercial realities’. Jane Tuckley is ‘an extremely capable regulatory lawyer with an impressive knowledge of regulatory requirements for all types of investment funds’. Aaron Stocks is recommended for listed funds, and Richard Spedding for hedge funds. The group advised Elysian Capital on its £130m debut buyout fund; Candover Partners Ltd on its spinout from Candover Investments plc via the formation of Arle Capital Partners; and Metric Property Investments plc on its £190m placing and LSE listing and conversion to a REIT.

Within Employee share schemes, Travers Smith LLP is a third tier firm,

Travers Smith LLP is valued for its ‘strong technical depth’ and its ‘clear’ advice, delivered in a ‘concise’ manner. It acts for a number of high-profile clients, among them Virgin Media, Saga, and new name Pinebridge Investments, across a variety of transactional and advisory matters. It advised new private bank Metro Bank on its management incentives scheme, and Bridgepoint on its complex £995m sale of Pets at Home to KKR. Mahesh Varia is recommended.

Within Employment, tier 4

Travers Smith LLP ‘provides a first-class service’. It acts for 3663, Pinewood Shepperton Studios, and Raytheon Systems, alongside new gains Groupon, Nomura and L’Oréal. The practice ranges from corporate restructurings to senior board appointments and litigation, including whistleblowing and group actions. The ‘outstanding’ Siân Keall is ‘very commercial and balanced’. The ‘impressive’ Ed Mills was promoted to partner in 2010.

Within Immigration,

Also notable for their work in the area of immigration are: Clifford Chance; Davenport Lyons; Dundas & Wilson LLP; Eversheds LLP; Fisher Jones Greenwood LLP; Macfarlanes LLP; Paragon Law; Pinsent Masons LLP; RadcliffesLeBrasseur; Russell-Cooke LLP; Simons Muirhead & Burton; Steeles Law LLP; Travers Smith LLP; and Watson, Farley & Williams LLP.

Within Pensions, Travers Smith LLP is a second tier firm,

Travers Smith LLP recently advised on changes to the Dow and Gatwick Airport pension structures. Paul Stannard is ‘a very commercially sensitive lawyer, who is able to see the big picture and come up with solutions while staying cognisant of the complexities of the problem’; Peter Esam is ‘particularly good at dealing with trustee boards’; and Philip Stear is ‘always prepared to go the extra mile for you’. Andrew Block has ‘excellent knowledge that enables robust solutions in very quick timescales’. Jonathan Leslie’s pensions litigation group advised the trustees of the Lehman Brothers’ Pension Scheme, and continues to act for Stena Line Limited in relation to the Merchant Navy case.

Within Professional negligence Professional negligence

Within Commercial property, tier 4

‘Innovative but underrated’, Travers Smith LLP acts on high-quality, high-value transactions, such as representing the Peel Group on its £1.6bn sale of the Trafford Centre to Capital Shopping Centres. Julian Bass, Anthony Judge, Simon Rutman and James Styles are recommended. Robin Holmes joined Farrer & Co.

Within Construction, tier 5

Travers Smith LLP advised Patron Capital on the construction of two hotels at the Westfield site adjacent to the Olympic Park. Other clients include McAleer & Rushe and Arcelor Mittal. Practice head Kofi Atta is noted for his commercial awareness.

Within Environment, tier 4

Travers Smith LLP provides ‘professional advice’ on transactions, projects, regulations and contentious matters. It recently advised on contaminated land issues at the Pinewood Studios development. Clients include private equity firms such as Bridgepoint and Silverfleet, and real estate developers including Glengall Bridge Holdings. Practice head Doug Bryden is ‘commercial’, and has ‘excellent knowledge’ on climate change and other environmental issues.

Within Planning, tier 6

Travers Smith LLP is recommended for ‘standalone, strategic projects’, and fields a team that ‘puts clients first and goes out of its way to provide outstanding service’. The team has been advising Pinewood Shepperton regarding the public inquiry into its proposals for expanding its film studios; and obtained planning consent for the Olympic Park’s ArcelorMittal Orbit. Real estate head Julian Bass leads on planning advice.

Within Property finance, Travers Smith LLP is a third tier firm,

Travers Smith LLP represents lenders such as RBS, Landesbank Berlin and Lloyds Banking Group. Paul Lyons is recommended. Neil Murray joined Stephenson Harwood.

Within Property litigation, tier 4

Travers Smith LLP recently advised London Underground in a rights of light dispute at Hammersmith station. The practice saw an upturn in planning agreement disputes. Andrew Ross heads the group.

Within Franchising, Travers Smith LLP is a first tier firm,

Travers Smith LLP’s dedicated franchising group is commended for its ‘consistently high standards’ and ‘good spirit and culture’. Led by ‘strategic thinker’ Tom Purton, the team acts for franchisors and franchisees across the financial services, retail, hotels and healthcare sectors. ‘Tough negotiator’ Dan Reavill advised Barings on its global licensing arrangements, and Purton advised Select Service Partner on franchising arrangements for its Caffè Ritazza and Upper Crust brands, and its running of WH Smith, M&S Simply Food, Starbucks and Burger King franchises. Neal Watson provides ‘high-calibre’ advice.

Within IT and telecoms, tier 5

At Travers Smith LLP, ‘thorough negotiator’ Dan Reavill advises Metro Bank, Pret A Manger, and new client Vue Cinemas. On the telecoms side, Alistair Wilson advised MX Telecom on its purchase by Amdocs Astrum.

Within Media and entertainment, Travers Smith LLP is a third tier firm,

Richard Brown, head of the team at Travers Smith LLP, is noted for his ‘excellent grasp of the industry’. He recently advised Virgin Media on its investment in a joint venture with BBC Worldwide, and led advice to Channel Four on its DTT multiplex agreements with the BBC and S4C. Head of commercial Tom Purton led advice to Pinewood Studios on its new ventures with international partners. The team continues to advise the Ambassador Theatre Group on commercial issues. Senior associate Ben Chivers is recommended.

Within Sport, tier 6

Travers Smith LLP’s track record includes having acted for Force India Formula One team and TalkSport.