Firms To Watch: Private equity: transactions - mid-market deals (up to £250m)

From its Leeds base, Walker Morris LLP acts for portfolio companies and private equity funds - both domestic and international - on a range of buyouts and portfolio company transactions, frequently with a cross-border element. Debbie Jackson - experienced in PE, VC, and M&A work - leads the team.

Private equity: transactions - mid-market deals (up to £250m) in London

Addleshaw Goddard

Particularly praised for its depth at partner level, the team at Addleshaw Goddard handles a steady stream of high-cap as well as mid-market transactions for a strong roster of sponsors and management teams. The sizeable, national practice is headed up by Mike Hinchliffe, a ‘very experienced and knowledgeable‘ figure whose broad capabilities range from acquisitions to minority fundraising deals. With more than two decades in the market, Yunus Seedat is similarly well-versed in all manner of corporate transactions, while Marc Field‘s recent workload includes investment deals and sale processes for clients engaged in the tech, energy, and professional services sectors. Gemma Phillips is noted for her track record in deals, working with both sponsors and portfolio companies. Other names to note include Liam Gasior, who focuses on financial services-based mandates, and Victor Oderinde, whose recent highlights include a number of auction processes. All named lawyers are based in London.

Practice head(s):

Mike Hinchliffe


Other key lawyers:

Yunus Seedat; Marc Field; Gemma Phillips; Liam Gasior; Victor Oderinde


Testimonials

‘Good all-round team with depth at partner level in particular.’

‘Mike Hinchliffe is very experienced and knowledgeable.’

‘Gemma Phillips and Marc Field are both highly skilled lawyers with a good commercial approach.’

‘Collaborative team with good depth below partner level. Associates have made the effort to get to know individual portfolio company dynamics well and provided hands-on support through the full investment life cycle with high EQ.’

‘Marc Field is a trusted and respected advisor to our team – highly responsive with excellent problem solving capabilities.’

Key clients

Accel KKR


Bridges Fund Management


CGE Partners


ECI Partners


Equistone Partners Europe


H2 Equity Partners


Inflexion Private Equity


LDC


Limerston Capital


Livingbridge


Phoenix Equity Partners


Soho Square


Synova Capital


Terra Firma


Volpi Capital


Waterland


Work highlights


  • Advising ECI Partners on its investment in Zenergi and the sale of Bionic.
  • Advising Inflexion on the acquisition of Astrak Group.
  • Advising International Financial Group on its sale to Cinven.

DLA Piper

A host of blue-chip sponsors and portfolio companies operating in the mid-market turn to DLA Piper for assistance in acquisitions, sale processes and investment deals, both domestic and cross-border in nature. The London team is run by Ed Griffiths, a seasoned transactional lawyer whose expertise is especially concentrated in technology sector work. A specialist in management-side representation, Tim Wright‘s recent engagements include high-value divestitures in the tech and professional services sectors. Piero Carbone works with various US and European PE houses engaged in  range of industries – from financial services to consumer goods – while John Pryor is noted for his track record in buyouts.

Practice head(s):

Ed Griffiths


Other key lawyers:

Tim Wright; Piero Carbone; John Pryor


Key clients

Aonic


Beech Tree Private Equity


Blackstone


Bregal Milestone


The Carlyle Group


Duke Street Capital


Elliott Advisors


EMI Capital


EMK Capital


Encore Capital


EQT Ventures


Graphite Capital


Gresham House


H.I.G. European Capital Partners


Inflexion Private Equity Partners


Intermediate Capital Group


Lloyds Development Capital


Pollen St Capital


Symphony Technology Group


Three Hills Capital Partners


Trilantic Capital Management


Twinpoint Capital LLC


Acolin Holding AG


Airties


Analysys Mason Limited


Ascot Lloyd


Butlins Skyline Limited


Element Materials Technology


IGT Holding


Kantar Group


Miller Homes


OpenHealth Communications


PwC


RGI S.p.A.


SLR Consulting


Work highlights


  • Advised Blackstone on the sale of Cloudreach.
  • Advised Trilantic Europe on its acquisition of the Kantar’s Public Division business. As a result of this transaction, Kantar’s Public Division business will standalone from Kantar’s other businesses.
  • Advised on the purchase of the entire issued share capital of Suir Engineering Ltd by Clover Bidco Limited from ESSC Ireland Ltd.

Goodwin

Drawing on its firmwide expertise in tech and healthcare, Goodwin‘s sizeable team handles a healthy volume of sponsor-side buyout work targeting the sectors, including a number of cross-border acquisitions and investment deals for both PE firms and their portfolio companies. Practice head Richard Lever maintains a wide-ranging transactional practice, most recently advising on acquisitions in the real estate and education sectors.  James Grimwood handles a range of tech and growth-oriented deals, while Carl Bradshaw‘s recent workload includes consumer goods and financial services mandates. Other key figures include London office co-chair Gemma Roberts, noted for her experience in carve-outs and growth equity investments, and Michael Miranda, recommended for his focus on transatlantic tech deals.

Practice head(s):

Richard Lever


Other key lawyers:

James Grimwood; Carl Bradshaw; Gemma Roberts; Michael Miranda


Key clients

Accel-KKR


Bregal Milestone & Bregal Sagemount


G Square Private Equity


IK Investment Partners


Lloyds Development Capital


Mayfair Equity Partners


Queens Park Equity


Summit Partners


TA Associates


TowerBrook Capital Partners


Work highlights


  • Advised Mayfair Equity Partners on its investment in LoopMe and on its sale of Talon Outdoor to Equistone.
  • Advised AKKR on its buyout of PayProp.
  • Advised IK Partners on its acquisition of International Correspondence Schools.

Macfarlanes LLP

Acting for a roll call of leading mid-market firms, Macfarlanes LLP‘s far-reaching sponsor-side activity ranges from big-ticket buyouts and divestitures to secondary transactions and continuation fund deals. Practice chair Alex Edmondson is a seasoned buyout lawyer with particular expertise in the technology sector, working with a host of founders, companies, and investor clients. The highly experienced Stephen Drewitt remains an active figure in the London market, most recently advising on a number of cross-border portfolio company deals. Stephen Pike‘s capabilities span from buyouts to (both LP and GP led) secondaries, while Alexander Green is particularly well-versed in the latter.

Practice head(s):

Alex Edmondson


Other key lawyers:

Stephen Drewitt; Stephen Pike; Alexander Green


Key clients

Alchemy Partners


Caledonia Private Capital


J.C. Flowers & Co


Bowmark Capital


Epiris


Exponent Private Equity


Mayfair Equity Partners


Graphite Capital


Charme Capital Partners


KPS Capital Partners


Partners Group and Duke Street


Tulchan


Crestline Management LP


Work highlights


  • Advised Mayfair Equity Partners on its backing of Access Partnership’s management buyout.
  • Assisted Liberation Group, a private equity-backed pub, restaurant, and drinks business, on its combination with Cirrus Inns.
  • Advised The Instant Group, a corporate real estate solutions specialist backed by Bowmark Capital, on its merger with workspace network IWG’s digital businesses.

Pinsent Masons LLP

Praised by clients for its ‘deep understanding of private equity transactions‘, Pinsent Masons LLP is engaged by sponsors and management teams for its wide-ranging deal capabilities, including strategic acquisitions, management buyouts, and minority investments. The nationally resourced team is led by UK corporate chair Edward Stead, who regularly works with clients involved in the tech and professional services sectors. Tom Leman‘s transactional practice is especially concentrated in retail and consumer markets, with recent highlights including strategic investments into assets operating in the luxury goods sector. Manchester-based Kieran Toal – ‘a strong negotiator‘ – is noted for his cross-border offering, advising on a number of pan-European and transatlantic mandates. Also in Manchester, Amie Norris is a key contact for a number of notable portfolio companies seeking assistance on buy and sell-side work. Birmingham-based Joanne Ellis, head of the firm’s international healthcare-focused practice, handles an array of deals targeting the sector – particularly in the care and dental spaces. All named lawyers are based in London unless stated otherwise.

Practice head(s):

Edward Stead


Other key lawyers:

Tom Leman; Kieran Toal; Amie Norris; Joanne Ellis; Vicky Jew


Testimonials

Deep understanding of private equity transactions, so the team were very well placed to support us through our most recent transaction. Quick turnaround times to ensure deadlines were adhered to and nothing was missed. Strong management from the corporate team bringing in other legal teams/disciplines but always providing context for the transaction.’

Kieran Toal has a strong understanding of the market and private equity transactions, and is a strong negotiator.’

‘Vicky Jew is detail-orientated and highly commercial, very good at explaining legal concepts to non-lawyers.

Key clients

Sovereign Capital Partners


MML Capital Partners


Livingbridge


Westbridge Capital


Waterland Private Equity


Synova Capital Partners


The Shareholders of Jola Cloud Solutions Ltd


Rcapital


Scottish Equity Partners


Horizon Capital


Piper Private Equity


BGF


British Engineering Services


Strat7


Partou


Monica Vinader


Greencoat Capital


Work highlights


  • Advised the shareholders, including BGF, of Sherlock Foods Holdings Limited on their sale to Grupo Bimbo.
  • Advised Livingbridge on its acquisition of a majority interest in Imagesound from ECI Partners and the existing management team.
  • Advised Westbridge Capital on the management buyout of Alpine Fire Engineers Limited from its existing investor, Soho Square Capital.

Taylor Wessing LLP

Taylor Wessing LLP‘s ‘great sector knowledge‘ and ability to ‘deal with complex issues without fuss‘ makes them a key choice for a range of sponsors and management teams. Steered by Edward Waldron, who assumed leadership of the group in May 2023, the practice handles a mix of investment deals, growth company-focused buyouts, and mid-market sale processes – frequently with a cross-border aspect. ‘Consistent, thoughtful, and composed‘, Emma Danks is a highly experienced transactional adviser noted for her particular expertise in pharma-driven deals. Jonny Bethell is similarly praised for the depth of his sponsor relationships, having become a key contact for numerous PE houses. Other names to note include James Goold, a seasoned PE and M&A partner whose recent engagements include cross-border divestitures in the professional services and leisure sectors.

Practice head(s):

Edward Waldron


Other key lawyers:

Emma Danks; James Goold; Jonny Bethell


Testimonials

‘The key strength is the consistency of the team you get to work with. They have obviously done a great job of motivating and retaining staff, which means that we as the client get to work with the same team over and over again, from trainee through to partner. This helps build a level of trust between client and adviser and means that projects can be up and running much more quickly than would be the case if the team were constantly changing.’

The team are always available and always engaged which results in good outcomes for us. It feels like there is a high degree of collaboration across all levels, both on our side and their side which definitely results in a more seamless working relationship.’

‘Emma Danks and Jonny Bethell are always available to lend a hand, no matter how big or small the matter is. Both of them are consistent, thoughtful and composed. They are people I know I can turn to at all times for support and advice and the counsel I receive will be high quality.’

‘Great sector knowledge and very easy to work with. Deal with complex issues without fuss. Well networked within the space.’

Key clients

Inflexion Private Equity


Bridgepoint


Caledonia Investments


Rutland Partners


Alcuin Capital Partners


August Equity


Rockpool Investments


Intriva Capital Advisors


Apposite Capital


Sullivan Street Partners


Blauvelt Capital


MML Capital


Graphite Capital


The Rohatyn Group


Corsair Capital


Verdane


Baird Capital


GLJ Capital


Management teams / founders (various, including Acal, Theramex, group. One, Kantar Public, Kobalt, Roadchef, Scott Dunn, Virgin Experience Days, K2 Partnering Solutions, Boston MFO, SPF)


Ashurst

Steered by market veteran David Carter, Ashurst handles a host of cross-border transactional work, acting for both sponsors and management teams. Carter, who serves as global co-head of the the firm’s private equity practice, continues to work with a range of houses and portfolio companies on buy-outs and investment deals, advising across a range of sectors. He regularly works in conjunction with Braeden Donnelly, who has become a key contact for a number of the firm’s sponsor clients. Global chair Karen Davies advises both investors and corporate clients on big-ticket acquisitions and disposals, while Markjan Van Schaardenburgh is especially noted for his experience in deals with a European or African dimension. Dallan Pitman is also recommended for his multijurisdictional capabilities.

Practice head(s):

David Carter


Other key lawyers:

Karen Davies; Braeden Donnelly; Markjan van Schaardenburgh; Dallan Pitman


Key clients

Agilitas


Sprints Capital


Axiom Equity Partners LLP


Goldman Sachs International


Amalfi Bidco Limited


EV Cargo Holdings Limited


Atlas Merchant Capital


BJP Holdings Limited


BMS Group


Work highlights


  • Advised Agilitas on its investment in the buy-out of NNIT’s IT infrastructure outsourcing business including its Hybrid Cloud Solutions business as well as select parts of its Cloud & Digital Solutions business (together “NNIT IO”).
  • Advised Amalfi Bidco Limited, Belgravia Investments Limitedand Kensington Capital Limited and funds managed by THCS IV GP S.à r.l. and TH Management IV S.à r.l. in relation to its recommended cash and share acquisition of the entire issued and to be issued share capital of CareTech Holdings PLC.
  • Advised AxiomEquity Partners LLP on the acquisition of Akixi Limited.

Dentons

Praised by clients for providing ‘a strong bench of partner-level attention‘ in transactions, Dentons regularly advises leading PE firms and management teams on a range of high-value and mid-market deals, particularly in emerging markets across Asia and Africa. Nicholas Plant, co-head of the global private equity group, is a highly active mid-market adviser whose recent engagements include auction sale processes for high-profile financial services companies. Other key names to note include Stephen Levy, co-chair of both the UK and European PE teams, who serves as relationship partner for some of the firm’s leading sponsor clients, and James Davison, experienced in all manner of cross-border deals. Both Levy and Davison are well regarded for being ‘very commercial in their approach, always available, and extremely personable.

Practice head(s):

Neil Nicholson


Other key lawyers:

Nicholas Plant; Stephen Levy; James Davison


Testimonials

‘Experience of working on large cap matters and applying that knowledge and quality of work to mid cap transactions. Always felt we had a strong bench of partner-level attention.’

‘Stephen Levy and James Davison are both very commercial in their approach, always available, and extremely personable.’

Key clients

KKR


CK Holdings Co., Ltd, the KKR-owned holding company of Calsonic Kansei


KPS Capital Partners


Scottish Equity Partners


Centerbridge


Blackstone


Stonepeak Infrastructure Partners


Martin Moller (billionaire founder of Nordic Aviation Capital)


Graphite Capital


Ontario Teachers’ Pension Plan


Astorg Mid-Cap


Canada Pension Plan Investment Board


HIG Capital


TA Associates


BNF Capital


Leapfrog


Temasek


Platinum Equity


Partners Group


Peak Rock Capital


Work highlights


  • Advised Astorg Mid-Cap on a majority investment in Avania.
  • Advised Platinum Equity on the acquisitions of Harbison Walker and Imerys’ refractory and high temperature solutions businesses.
  • Advised Canadian pension fund CPPIB on the auction sale of its portfolio company CompareTheMarket.comsubsidiary BGL to private equity house Pollen Street Capital.

Eversheds Sutherland (International) LLP

Able to draw on its significant national resources, Eversheds Sutherland (International) LLP‘s ‘in-depth knowledge of both the PE industry and the larger corporate industry‘ is prized by a host of PE houses and management teams alike. The cross-office team is led by the Birmingham-based James Trevis, who works with a number of the firm’s key sponsor clients on mid-market deals. Also based in Birmingham, Mark Beardmore‘s sector-specific experience includes tech and logistics-oriented deals, while Catherine Eley has recently worked with management teams on a number of strategic bolt-on acquisitions and divestitures. International corporate head Richard Moulton is a highly experienced adviser whose recent engagements include a number of sell-side processes in the software and professional services arenas. Other names to note include Leeds-based Robin Skelton and the ‘excellent’ Richard Kyle. All named lawyers are based in London unless stated otherwise.

Practice head(s):

James Trevis


Other key lawyers:

Richard Moulton; Mark Beardmore; Catherine Eley; Robin Skelton; Richard Kyle


Testimonials

‘Very proactive on client management and new opportunity origination. Have an in-depth knowledge of both the PE industry and the larger corporate industry, and translate complex concepts into straightforward, digestible advice.’

‘James Trevis is very strong; a leading member of the Midlands PE market and proactively manages the national relationship with Equistone well.’

‘Very commercially astute.’

‘Hardworking and relationship driven. Richard Kyle is excellent.’

‘Breadth of experience across multiple jurisdictions. Able to handle complex topics and accommodate new topics very quickly. Very clear communication in plain English!’

Key clients

H2 Equity Partners


Livingbridge


Inflexion


CBPE Partners


Baird Capital Partners Europe


Sovereign Capital


LDC


Aurelius


EMK


Arcline


Equistone


Elaghmore


Pollen Street Capital


Bowmark


Silverfleet


Platinum Equity


Beech Tree Private Equity


Jones Day

A strong choice for sponsors and management teams alike, Jones Day‘s capabilities span the real estate, infrastructure, life sciences, and tech sectors. The practice is jointly chaired by Patrick Stafford, a key port of call for VC and growth capital investor clients, and Vica Irani, who regularly handles matters for major infrastructure-focused sponsors. Giles Elliott‘s recent engagements include cross-border acquisitions in the real estate and industrials sectors, while Liam Bonamy‘s broad coverage encompasses tech, manufacturing, and media. Julian Runnicles – whose recent highlights include multi-jurisdictional energy sector acquisitions - is also recommended.

Practice head(s):

Patrick Stafford; Vica Irani


Other key lawyers:

Giles Elliott; Liam Bonamy; Julian Runnicles


Key clients

Arsenal Capital Partners


EagleTree Capital


Aurelius Equity Opportunities


The Riverside Company


Inflexion Private Equity


True Capital


CBRE Investment Management


Greystar Real Estate Partners, LLC


Henley Investment Management Limited


Macquarie Asset Management


Mayer Brown International LLP

Drawing particular praise for its tech sector expertise, Mayer Brown International LLP‘s cross-border, mid-market capabilities make it a strong choice for a number of well-known sponsors. The team is headed up by Perry Yam, a seasoned partner whose recent engagements include buy-side deals in the healthcare space. James West is an equally active adviser whose expertise ranges from growth investments to buyouts. ‘Commercial, readily available, and client-centric‘, Electra Callan is well regarded for her transactional pedigree across high cap and mid-market work. Tarun Patel‘s broad sector expertise covers tech, healthcare, and financial services-oriented deals. Recent highlights for the ‘exceptional’ Paul Rosen – who joined from Katten in August 2022 – include investment deals in the food and beverage sectors.

Practice head(s):

Perry Yam


Other key lawyers:

James West; Electra Callan; Tarun Patel; Paul Rosen; James Beattie


Testimonials

‘The team, led by Electra Callan, was commercial, readily available, client-centric, and providing clear communication with respect to deal considerations.’

‘Electra Callan was extremely professional in her running of the transaction and ensuring its completion. We found she took her time to understand both the business and resulting material issues from the client side as well as being able to then relay these points back to counsel.’

‘Commercial awareness and deep domain expertise in the tech sector.’

‘Very strong legally, commercially and in trying to find solutions. Great client service.’

‘Paul Rosen and James Beattie were exceptional.’

Key clients

Aurelius


Vitruvian Partners


Bridgepoint Development Capital


Marlin Equity Partners


Francisco Partners


Inspirit Capital


Omni Partners


Growth Catalyst Partners


EMK Capital


Sykes Holiday


Geopost


Recipe Products Limited


Mediawan


Carlyle


Markettiers4DC


TriSpan


Averna Capital


Maersk Ventures


STAR Capital


Work highlights


  • Advised Aurelius on its acquisition of McKesson UK.
  • Advised Vitruvian Partners on its acquisition of AnyVan Group.
  • Advised Bridgepoint Development Capital in its investment in SportPursuit Limited.

Osborne Clarke LLP

A ‘brilliant team of trusted advisors’, Osborne Clarke LLP works with a diverse lineup of sponsors, management teams, and growth investors on a range of mid-market transactions. Bristol-based practice head Alisdair Livingstone is a highly experienced partner who handles a steady stream of high-value deals. In London, the ‘stand out’ Tim Hewens fields a host of both sponsor-side and management-side instructions, while Pippa Byrne is especially noted for her work with institutional investors. Thames Valley-based Grey Leyshon serves as key relationship partner for the firm’s high-profile growth investor clients. London-based Alistair Francis is also recommended.

Practice head(s):

Alisdair Livingstone


Other key lawyers:

Pippa Byrne; Tim Hewens; Greg Leyshon; Alistair Francis


Testimonials

‘A team of highly skilled professionals, with each team member bringing a unique set of skills and knowledge to the table, allowing for comprehensive and well-rounded solutions to our challenges. A great emphasis on collaboration, both internally among team members and with clients. They build strong client relationships based on trust, open communication, and a deep understanding of client objectives, and they consistently deliver solutions that meet or exceed client expectations.’

‘The team members possess deep knowledge and expertise in their respective areas of practice, providing valuable insights and innovative solutions to clients’ complex challenges.’

‘Fantastic people and, most importantly, the depth of quality is deep throughout the firm.’

‘Brilliant team of trusted advisors.’

‘Tim Hewens is a stand out.’

Key clients

Synova


Tenzing


Growth Capital Partners


LDC


Alcuin Capital


Kester Capital


Apiary Capital LLP


Volpi Capital


Queen’s Park Equity


BGF


Centralis Group


Squire Patton Boggs

A ‘pragmatic and commercial team with good strength in depth‘, Squire Patton Boggs‘ sizeable national practice operates on a cross-office basis, advising on a range of mid-market acquisitions, sales, and investment deals – often with an international aspect. Practice head Paul Mann – who splits his time between the firm’s offices in Leeds and London – is regarded as ‘a top quality operator‘ who handles a significant volume of PE deals. Ben Squires‘ recent engagements include investment deals for clients involved in the financial services sector, while Mark Yeo‘s sector focus spans healthcare, media, and retail, among other industries. Other names to note include Charles Leeming, whose recent management-side representation includes multijurisdictional engineering deals, and Tim Stead, noted for his corporate finance acumen.

Practice head(s):

Paul Mann


Other key lawyers:

Ben Squires; Mark Yeo; Charles Leeming; Tim Stead; Julian Thatcher


Testimonials

‘An international firm with a strong presence in the regional market.’

‘Paul Mann is a highly commercial and skilled lawyer. Extensive technical skills but also very good at business development and creating deal flow.’

‘Pragmatic and commercial team, with good strength in depth. The firm is full service and the quality of support from specialists across the firm is also high.’

‘Julian Thatcher is commercial, pragmatic and very responsive.’

‘The Squires team is at the forefront of PE deals and have experience of both sides of the transaction. They are able to move quickly and deliver deals on some very tight timescales – as little as four weeks.’

‘Paul Mann is a top quality operator. Responsive and commercial, and gives good direction based on prior experience.’

‘Julian Thatcher was heavily involved throughout, and a real force driving toward getting the deal over the line. His advice was always balanced and pragmatic. It took him very little time to understand the nuances of the market, and since then has provided the firm with ongoing support on one other bolt-on deal, alongside numerous other matters.’

Key clients

ECI Partners


Growth Capital Partners


NorthEdge Capital


Business Growth Fund


Inflexion Private Equity


H2 Equity Partners


Chiltern Capital


Endless


LDC


Perwyn LLP


TPA Capital


FPE Capital


HIG Capital


Synova


Inspirit


Capital D


Work highlights


  • Acted for ECI and management on the sale of Clear Group to Goldman Sachs Asset Management.
  • Acted for HIG on its investment in CPS Building Services Limited.
  • Acted for Cavotec SA on its carve-out and divestment of its global airports business to Fernweh Group LLC.

Akin

Noted for its broad coverage of emerging markets, Akin is engaged on a diverse range of both upper and middle-market work – particularly for clients (both sponsors and portfolio companies) involved in tech and natural resources. The practice is jointly chaired by a several partners: Shaun Lascelles, a prolific adviser who regularly handles PE transactions in the oil and gas sectors; Gavin Weir, whose focus includes tech and life sciences;  Stephen Brown, experienced in PE employment law and management equity matters; and Sebastian Rice, who oversees both the London and Hong Kong offices. Other names to note include David Sewell, whose recent engagements include acquisitions for sponsors engaged in the financial services sector. Weyinmi Popo left the firm to join Asafo & Co. in March 2023.

Practice head(s):

Shaun Lascelles; Gavin Weir; Stephen Brown; Sebastian Rice


Other key lawyers:

David Sewell


Key clients

Vitol (via subsidiary VIP II Blue B.V.)


British International Investment, Norfund and Finnfund


VIP II Blue B.V./Vitol


Admaius Capital Partners


Work highlights


  • Advised a subsidiary of Vitol on the $2.3 billion takeover of African downstream oil business Vivo Energy Plc.
  • Advised British International Investment, Norfund and Finnfund on the subscription agreements for their $200 million investment in The African Forestry Impact Platform (AFIP).

CMS

The ‘highly commercial and pragmatic‘ team at CMS is engaged by both sponsors and management teams for its capabilities in a range of mid-market transactions, advising on deals across a number of sectors, both domestically and internationally. Practice chair Jason Zemmel is praised by clients for his ‘responsive and concise‘ approach to deals, most recently in the healthcare and professional services sectors. Martin Treagus is a key port of call for a number of sponsors, while Narinder Jugpal‘s regular workload includes platform acquisitions, exits, and investment deals. Edward Holmes left the firm to join Allen & Overy LLP in June 2023.

Practice head(s):

Jason Zemmel


Other key lawyers:

Martin Treagus; Narinder Jugpal; Jamie Burgess


Testimonials

‘The CMS team we work with are highly commercial and pragmatic, which is a key differentiator. They take a real partnership approach to working with us and invest in the longer term relationship.’

‘Jason Zemmel and Jamie Burgess are a pleasure to work with. They are user-friendly, efficient, responsive and concise with their advice.’

‘CMS have a practical and commercial approach to client advisory work, which differentiates them versus peers. I have worked with them across portfolio companies of different sizes and they have been consistently sensitive to differing fee budgets that each of the individual companies might have and have tailored the resourcing of projects accordingly, which has been appreciated. Consistency of the advisory team has also been maintained, which has significantly improved the efficiency of work and the level of client service versus other law firms we have worked with.’

Key clients

Horizon Capital


Synova Capital


Queen’s Park Equity


AnaCap Financial Partners


August Equity


Oakley Capital


Partners Group


Three Hills Capital Partners


Providence Equity Partners


Bridges Fund Management


CBPE Capital


Advent International


Inflexion Private Equity Partners


Risk Capital Partners


Phoenix Equity Partners


Bowmark Capital


Limerston Capital


LDC


Livingbridge


Mayfair Equity Partners


Sovereign Capital Partners


GMG Ventures


Stirling Square Capital Partners


HIG Europe


Turn/River


Madison Dearborn Partners


Atlas Merchant Capital


Sun Capital


EQT


Ocean 14 Capital


Superstruct Entertainment


Desotec Activated Carbon


Talon Outdoor


CapVest


Epiris


Montagu


Oaktree


Octopus


Patron Capital


BGF


Work highlights


  • Advising Horizon Capital, Ares and the management team sellers on the sale of the Agribriefing Group to Mintec (a Five Arrows/Synova portfolio company).
  • Advising Queen’s Park Equity on the management buyout of Republic M!, which covers the UK, DACH and Benelux regions.
  • Advising August Equity on the platform acquisition of One Touch (based in Ireland) and the simultaneous acquisition of the Tri.x business from BGF-backed Antser Holdings.

Cooley (UK) LLP

Noted for its strong focus on mid-market tech sector deals, Cooley (UK) LLP works with a litany of high-profile management teams on all manner of transactions. Practice head Stephen Rosen works with a range of VC-funded growth-companies and life sciences investors, with recent highlights including multi-million-pound cross-border acquisitions. Ben Shribman, a specialist in PE and growth capital fundraisings, is also recommended. Michal Berkner has left the firm.

Practice head(s):

Stephen Rosen


Other key lawyers:

Ben Shribman


Key clients

Kypler


Alcuin Capital


Susquehanna Private Capital LLC


Brainlabs (owned by Livingbridge)


ICS Learn (owned by Primary Capital)


Instructure (owned by Thoma Bravo)


Battery Ventures


Management team of Calypso


Insight Terra


Brandwatch


Work highlights


  • Advised Zuora on its acquisition of Zephr.
  • Advised Kpler on its acquisition of COR-e to expand into European power markets.
  • Advised Alvotech on its merger with SPAC Oaktree Acquisition Corp II and subsequent US listing.

Hogan Lovells International LLP

Working with a diverse roster of sponsors, management teams, and financial institutions, Hogan Lovells International LLP‘s varied mid-market capabilities include secondary transactions, investment deals, and portfolio company sell-side processes. Ed Harris, ‘a valued partner‘ in GP-led deals, is also noted for his experience in secondaries and co-investments. John Connell is rated as an ‘excellent operator‘, particularly in financial services and insurance-driven work. Leanne Moezi‘s recent engagements include big-ticket cross-border acquisitions for management teams, while counsel Simon Grimshaw – who divides his time between London and Birmingham – is noted for his experience in growth capital transactions. Fellow counsel Cees Brouwer and senior associate Charlotte Monk – regarded as a ‘top-class lawyer’ – are also recommended. John Livesey – a specialist in Spanish and Latin American deals – joined the team from Linklaters LLP in September 2022.

Practice head(s):

Ed Harris


Other key lawyers:

Leanne Moezi; Simon Grimshaw; Cees Brouwer; John Connell; Charlotte Monk; John Connell; John Livesey


Testimonials

‘Ed Harris and his team have deep experience in the GP-led space and have been active on both the sell and buy side for a number of years. They’ve advised both on lead and syndicate situations and have the right amount of M&A and fund experience to be a valued partner in these deals..’

‘Ed Harris and Charlotte Monk are top-class lawyers and a great combination of experience and down-to-earth, hard working attitude.’

‘Strength in depth, strong firm culture.’

‘John Connell is an excellent operator. He delivers results without compromise. Incredibly proactive and hardworking.’

Key clients

Ares Management


British Business Bank


Committed Advisors


Eurazeo


Expedition Growth Capital


IH International


Infratil


Pantheon Ventures


Patron Capital Advisers


Ventiga Capital Partners


Work highlights


  • Advised Pantheon on various secondary transactions, including in respect of portfolios of LP interests and in its capacity as lead investor in GP-led secondaries, and fund formation, including advising on the formation of a strategic real estate platform with Elliott Bay Capital Trust.
  • Advised Eurazeo in relation to G Square Healthcare Private Equity LLP’s closing of a €500m continuation fund vehicle in connection with the acquisition of three existing assets from its existing vehicles, G Square Capital I and G Square Capital II.
  • Advised the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) on their US$290m equity investment in Elemental Holding SA.

McDermott Will & Emery UK LLP

McDermott Will & Emery UK LLP is sought out by both sponsors and portfolio companies for its transactional capabilities across the tech, healthcare, and life sciences sectors. Eleanor West is a highly active adviser who anchors the team’s offering in the healthcare and pharmaceutical industries, while Calum Thom – experienced in cross-border deals – works with clients who are active in real estate, life sciences, and engineering, among other sectors. Counsel Elisa De Carolis‘ focus ranges from VC-backed growth investors to digital health and medtech-oriented funds. Former practice head Tom Whelan departed to Reed Smith LLP in February 2024.

Other key lawyers:

Eleanor West; Elisa De Carolis; Calum Thom


Testimonials

Elisa De Carolis is hands-on, a strong communicator, diligent, proactive, ability to handle complex transactions, able to achieve great results for their clients despite immense pressure and tight deadlines.

Key clients

SilverTree Equity


Ampersand Capital Partners


Senior Management Team of Facile.it


Atalaya Capital


Summit Partners


Auctus and its portfolio company, PharmaLex Group


H.I.G Capital


Naxicap Partners and Eqwal Group


Fortune Brands Home & Security, Inc.


I.Q. Endoscope


Flair Global (t/a Flair Impact)


KHP Ventures


Work highlights


  • Advised SilverTree Equity on two simultaneous co-investments with the Kantar: the acquisition of Step-Up RGM; and the acquisition of XTEL.
  • Represented Ampersand Capital on an investment with KKR in the business combination of Biosynth Carbosynth and Vivitide; the sale of Genome Diagnostics to Eurobio Scientific; and the acquisition of P95 BV.
  • Advised the senior management of Facile.it on the sale of their equity interest to Silver Lake.

Morgan, Lewis & Bockius UK LLP

Frequently working in conjunction with the firm’s US offices, Morgan, Lewis & Bockius UK LLP is engaged by a number of investment firms, sovereign wealth funds, and portfolio companies for its capabilities in mid-market transactions. Practice head Mark Geday is a highly active adviser whose recent highlights include big-ticket transactions in the media. Other key figures include Tim Corbett, who heads up the EMEA corporate group, and Robert Hutton, whose expertise is concentrated in the infrastructure, tech, and luxury travel sectors. Tom Cartwright left the firm for Paul Hastings LLP in June 2022, while Jayne McGlynn left the firm in May 2023.

Practice head(s):

Mark Geday


Other key lawyers:

Tim Corbett; Robert Hutton; Tomasz Wozniak


Testimonials

‘Commercially relevant advice, know what matters to the client, efficient and responsive.’

‘Mark Geday is proactive and straightforward; knows his clients well.’

‘Tomasz Wozniak and Mark Geday are exceptional lawyers – we love working with them very much.’

Key clients

Dimanche LLC, an affiliate of Regent LP


Greater Sun Ventures


Value Demonstration/ Cello Health


Cello Health (Lumanity)


StoneCalibre


VEON


Work highlights


  • Advised Dimanche LLC, an affiliate of Regent LP, in the acquisition of HanesBrands Inc.’s European innerwear business.
  • Represented Greater Sum Ventures (GSV) in its acquisition of Tracker Limited.

Paul Hastings LLP

In addition to a steady stream of sponsor-side engagements, Paul Hastings LLP‘s management team work sees the team advising on a number of transactions across the tech, healthcare, and industrials sectors. The practice is headed up by Anu Balasubramanian, a highly active transactional partner whose expertise is concentrated in tech and life sciences. Tom Cartwright – who joined the team from Morgan, Lewis & Bockius UK LLP in June 2022 – has since advised on cross-border deals in the insurance, chemical, and manufacturing sectors, while Jamie Holdoway‘s recent workload includes buyouts, co-investments, and consortia transactions.

Practice head(s):

Anu Balasubramanian


Other key lawyers:

Tom Cartwright; Jamie Holdoway


Key clients

Abry Partners


Francisco Partners


Oakley Capital


Astorg Partners


Marlin Equity Partners


Vector Capital


Symphony Technology Group


Strategic Value Partners


Brookfield


Centerbridge Partners


LINK Mobility Group


Keyloop


Wipro Limited


Canyon Capital Partners


SICP Investments


Alpine Grove


North Technology Group


Saba Software


Bregal


Benson Elliot


Work highlights


  • Represented Oakley Capital Fund III on its merger of Grupo Primavera with Cegid and its reinvestment, alongside Silver Lake and KKR, in the combined structure.
  • Represented Oakley Capital Origin Fund on the acquisition of vLex and the reinvestment by its founders.
  • Advised Marlin Equity Partners on its investment in OpenAsset. This comprised the acquisition of securities from OpenAsset’s founders (who remain controlling shareholders), as well as an additional primary investment in the business.

Sidley Austin LLP

Lauded as a ‘strong, deep team with cross-border capabilities, commercial knowledge, and excellent client service‘, Sidley Austin LLP handles a steady volume of sponsor-side deals, both domestic and cross-border. A flurry of lateral hiring activity saw Ramy Wahbeh join as co-head of the global PE practice, arriving from Paul, Weiss, Rifkind, Wharton & Garrison LLP in June 2023. Wahbeh came from the firm along with Kaisa Kuusk, noted for capabilities in pan-European transactions. The ‘deeply knowledgeableFatema Orjela is highly regarded by various leading European and US firms, with recent engagements including multijurisdictional buyouts and sell-side processes. Adam Runcorn‘s transactional pedigree sees him working on high-profile deals in the sports, tech, and professional services sectors. Other names to note include Paul Dunbar, whose broad focus encompasses infrastructure, transportation, and healthcare, and Robert Darwin, who specialises in life sciences work. Tony Downes – who joined the team from Proskauer Rose LLP in July 2022 – is also recommended.

Practice head(s):

Ramy Wahbeh


Other key lawyers:

Fatema Orjela; Adam Runcorn; Paul Dunbar; Robert Darwin; Tony Downes; Kaisa Kuusk


Testimonials

‘Enjoyable team to work with. Highly engaged and committed to projects, but also good-humoured and a great interface to work with, even when facing challenges on a deal. Same breadth and depth of capabilities as other top-tier firms but with a down-to-earth team. Highly recommended.’

‘Fatema Orjela is an outstanding PE lawyer. We particularly value Fatema’s ability to find creative solutions in complex situations, working with clients to find viable paths forward where one is not obvious – this really sets her apart from others in the industry. We also appreciate how dedicated she is to her clients. Fatema is always on top of both the details and the bigger picture, even at short notice. Fatema is our go-to PE lawyer.’

‘Exceptionally experienced team on mid-market private equity transactions across multiple strategies, which makes Sidley the ideal one-stop shop for the type of multi-strategy mid-market offering we provide to our investors.’

‘The long-term client-attorney relationship is key for Sidley which means that the relationship partners treat us an extremely valued client in ways that goes above and beyond what we receive from other firms in the market. Key standout partners are Fatema Orjela and Adam Runcorn.’

‘Strong, deep team with cross-border capabilities, commercial knowledge, and excellent client service.’

‘Fatema Orjela is deeply knowledgeable and infinitely approachable. She is good at explaining complicated matters in a simple fashion and is a pleasure to work with.’

Key clients

Clearlake Capital Group


H.I.G. Europe Capital


EQT Private Equity


Arsenal Capital Partners


Welsh, Carson, Anderson & Stowe


Apollo


Achieve Capital Partners


Great Hill Partners


One Equity Partners


Buckthorn Partners


Macquarie Capital Principal Finance


Housatonic Partners


Verdane


TowerBrook


Siris Capital


Work highlights


  • Advised Welsh, Carson, Anderson & Stowe (WCAS) in conjunction with Hg Capital on the US$5 billion merger of Norstella with Citeline.|
  • Advised Clearlake Capital Group in its acquisition of Chelsea Football Club and related affiliates in a consortium co-led with Todd Boehly, Chairman and CEO of Eldridge.
  • Advised funds managed by Apollo affiliates on their agreement to acquire Miller Homes Group Limited (Miller Homes) from Bridgepoint Group plc.

Stephenson Harwood

Highly responsive, knowledgeable and professional‘, Stephenson Harwood‘s transactional capabilities cover multi-million-dollar buyouts and investment deals, working with a number of portfolio companies and growth-oriented sponsors. The team is headed up by Jonathan Pittal, a ‘highly valued and trusted adviser’ whose workload comprises both sponsor-side and management side work.  Drawing high praise from clients, the ‘fantastic’ Malcolm MacDougall is a key contact a range of mid-market PE houses, who turn to him for assistance with buyouts and other strategic acquisitions with cross-border dimensions. ‘Commercial, effective and responsive‘, Adam Crossley is an active partner specialising in PE and growth capital transactions, while Richard Coleman is especially noted for his tech, healthcare, and decarbonisation sector work.

Practice head(s):

Jonathan Pittal


Other key lawyers:

Malcolm MacDougal; Adam Crossley; Richard Coleman; Isaac Paine; Emily Davies


Testimonials

‘Malcolm MacDougall is a fantastic partner. He is extremely active across deals and has been integral in the transformation of the firm’s PE corporate offering over the last few years into one of the go-to lawyers in the space. He’s brought together a strong team of associates and is well liked as a leader internally, as well as hugely respected as a lawyer externally – which is in line with his character and capability respectively.’

‘Isaac Paine is definitely a stand-out of the associates. Extremely knowledgeable, with an outstanding way of explaining options both internally and in negotiations.’

‘Malcolm MacDougall is exceptional in the way in which he engages with clients and with counterparties. His experience, his intellect, his energy and his positive demeanour give everyone involved in a corporate transaction process confidence in achieving good outcomes efficiently.’

‘Adam Crossley is very commercial, effective and responsive. Is able to educate in a pleasant and clear manner.’

Chris Manning has significant transaction experience and gives well informed and well judged advice, again, always with a focus on excellent service levels. He is a pleasure to work with and a very capable lawyer and we hope will stay in the UK buyout market for many more years to come.’

‘The team are highly responsive, knowledgeable and professional. They have acted for us on both buy side and sell side engagements and always provide excellent advice.’

‘Jonathan Pittal is excellent: he has a wealth of experience, he quickly gets to grips with complexity, he offers solutions, and is definitely a highly valued and trusted adviser.

‘Emily Davies is an absolute star: commercial, clear, thorough, and very pleasant to deal with.’

Key clients

Bowmark Capital


Elysian Capital


BGF


FPE Capital


Apposite Capital


Rockpool Investments


BlueGem Capital Partners


Morgan Stanley


Inspired Education Group


Five Arrows


ESO Capital


Macquarie


Standard Life Aberdeen


Schroders


Bestport Private Equity


Pelican Capital


STAR Capital


Civica Group


Agathos Management LLP


bd-capital


Coniston Capital Management


Blandford Capital


HST Marine


Protium Green Solutions


PSG Equity


TruArc Partners


Work highlights


  • Advised Inspired Education Group on Stonepeak’s €1 billion investment in the company.
  • Advised Bowmark on a number of transactions, including the sale of Leaders Romans Group to Platinum Equity, LLC, and the disposal of and re-investment into Pirum Systems.
  • Advised Elysian Capital LLP on its buy-out of Fastway Couriers.

Gowling WLG

Working across its various national offices, Gowling WLG works with a mix of sponsors, investors, and growth capital funds on a number of lower mid-market transactions. Practice chair Ian Piggin‘s recent engagements include sponsor-side acquisitions and cross-border deals for VC funds. Piggin heads up the healthcare and life sciences team alongside Neil Hendron, whose capabilities also extend to the financial services sector. Global energy co-chair Gareth Baker handles a host of domestic and international matters, acting for renewable dedicated investment funds, among other clients. Listed funds specialist Kris Rogers is also recommended.

Practice head(s):

Ian Piggin


Other key lawyers:

Neil Hendron; Gareth Baker; Kris Rogers


Key clients

Mercia Asset Management plc


Nedbank Group


Eelpower Limited


Sceptre Holdings, LLC (backed by Serent Capital)


BGF


LDC


Gyrus Capital


Perwyn Advisors UK Limited


Rigby Private Equity Limited


The Independent Merchant Group (part of Cairngorm Capital Partners’ portfolio)


HydrogenOne Capital Growth plc


Nova Innovation Limited


NVM Private Equity LLP


Grant and Stone Limited


Cove Hill Partners


Work highlights


  • Advised Sceptre Holdings LLC, backed by Serent Capital, on its acquisition of Avvio Limited.
  • Acted for the shareholders of Solid Solutions Group Ltd (including LDC), on the sale of Solid Solutions Group Ltd to TriMech.
  • Advised clean hydrogen-dedicated investment fund HydrogenOne Capital Growth plc on its £10m investment in HiiROC Limited and on its £9m investment in NanoSUN Limited.

Herbert Smith Freehills LLP

Regarded as ‘an exceptional team with strong technical skills and commercial understanding‘, Herbert Smith Freehills LLP‘s cross-disciplinary team works with a number of PE firms on both mid-market and high cap transactions. The PE offering is headed up by John Taylor, whose recent workload covers the financial services and healthcare sectors. Gavin Williams specialises in infrastructure acquisitions and investment deals, while David D’Souza is noted for his experience in the energy and tech sectors, to name a few. Other key figures include Malcolm Lombers, a highly experienced M&A partner, and Joseph Dennis, praised for his ‘strong work ethic and exceptional negotiation skills.’

Practice head(s):

John Taylor


Other key lawyers:

Gavin Williams; David D’Souza; Malcolm Lombers; Joseph Dennis


Testimonials

‘Very responsive and knowledgeable.’

‘Their responsiveness and insight into the private equity market is unrivalled.’

An exceptional team with strong technical skills, commercial understanding and effective communicators.’

Key clients

Blackstone


Cabot Square Capital


H.R.L. Morrison & Co Limited


DWS Asset Management


Acquiline


GIC


Goldman Sachs Asset Management


Headway Capital


Inflexion Private Equity Partners


Vimian Group


BC Partners


Carlyle Group


Brookfield


OMERS


DIF


Work highlights


  • Advised Blackstone on the non-US elements of Emerson’s sale of a majority stake in its Climate Technologies business to private equity funds managed by Blackstone, in a transaction valuing Climate Technologies at $14bn.
  • Advised DWS on the sale of c.48% stake in TCR, owned by funds managed by DWS, to 3i Infrastructure for £334m.
  • Advised Cabot Square Capital on the disposal of SPF to Howden.

K&L Gates LLP

Working with a growing roster of domestic and international sponsors, K&L Gates LLP is a popular choice for a number of funds across the mid-market space. The London office is headed up by James Cross, a prolific transactional adviser who leads the firm’s relationships with many of its key sponsor, investor, and portfolio company clients. Cross is regularly supported by Andrew Poole, a similarly active deals lawyer whose recent engagements include investment transactions in the professional services and tech sectors.

Practice head(s):

James Cross


Other key lawyers:

Andrew Poole


Key clients

Soho Square Capital


Orangewood Partners


Pearson Plc


Aurelius


August Equity


Averroes Capital


Inspirit Capital


TriSpan


AGIC Capital


Flywheel Partners


Work highlights


  • Advised Soho Square Capital on its investment and partnership with Oliver James.
  • Advised Orangewood Partners on its investment in Barrington James.
  • Advised a U.S. subsidiary of Pearson PLC in connection with its acquisition of Personnel Decisions Research Institute, LLC for approximately $185m from Exponent Private Equity.

Mishcon de Reya LLP

Mishcon de Reya LLP is particularly well-versed in management-side work, handling a range of transactions for clients operating in a diverse range of sectors, from technology to construction. PE head Nadim Meer regularly advises across the hospitality, leisure, consumer, and retail industries, working with founders and management teams on all manner of deals. Andrew Rimmington specialises in tech-focused mandates, while recent engagements for corporate department chair Kevin McCarthy include portfolio company deals in the insurance sector. Allison Keyse and James Paterson are both recommended for their expertise in owner and management-oriented work.

Practice head(s):

Nadim Meer


Other key lawyers:

Andrew Rimmington; Kevin McCarthy; Allison Keyse; James Paterson


Testimonials

They demonstrated really strong intellect on complex matters – quiet determination, no grandstanding; they play a good long game to get a 10/10 result for the customer.’

Kevin McCarthy provides quick and accurate turnaround on documentation. He gets a quick grip of the overall commercial big picture.’

Mishcon de Reya are very much a premium firm. Given the risks and opportunity-costs involved in executing the transaction, they were exceptional in their diligence, reliability and quality of deliverables.’

Key clients

Dream International Cooperatief U.A.


Management team and Shareholders of OpenAsset Enterprises Group


Management team of Digital Barriers


Management and Shareholders of MailManager Limited


Shareholders of Spektrix Limited


Management and Shareholders of Xalient Limited


Founders and Management of FutureDeluxe


Management and Shareholders of Harvey Jones Holdings Limited


Management team of Fidelis Insurance Holdings Limited


Work highlights


  • Advised Dream International Coöperatief U.A. (a portfolio company of Doğuş Holding A.Ş. (Doğuş Group) in connection with its sale of a strategic stake in Dream International B.V. to Qatar Investment Authority.
  • Advised the management team of Fidelis Insurance Holdings Limited in connection with the launch of a new Managing General Underwriter and the separation of its business.
  • Acted for the founders and management of OpenAsset Group in connection with Marlin Equity Partners’ growth investment in OpenAsset Enterprises.

Norton Rose Fulbright

With significant international resources at its disposal, the team at Norton Rose Fulbright – noted for its work in the insurance sector – handles a mix of in-bound investments, acquisitions, and sell-side processes for a range of sponsor clients, particularly in emerging markets. The practice is jointly chaired by Bayo Odubeko, a seasoned PE and VC partner whose recent engagements include fundraising transactions in West Africa, and Sophie O’Connor, who – along with Nicholas Berry – anchors the team’s capabilities in the financial services and insurance sectors. Berry focuses exclusively on insurance transactions, heading up the London office’s InsurTech practice in addition to handling various cross-border deals. Matthew Eccles is noted for his focus on emerging markets.

Practice head(s):

Bayo Odubeko; Sophie O’Connor


Other key lawyers:

Nicholas Berry; Matthew Eccles


Testimonials

‘High quality deliverables to agreed timelines. They understood what was important to us and proactively informed us of these items.’

‘Sophie O’Connor brought a calm demeanour that helped create a more constructive atmosphere during the negotiations. She had the perfect balance of firmness and flexibility in the negotiations, including advice to us on negotiating tactics. Always available when needed. She understood what was important to us and what could be negotiated away.’

Key clients

Etrading Software Limited


Calisen Group Holdings


Kerry Group plc


Aquiline Capital Partners LLC


Management of WFS


Tiger Infrastructure Partners


Appian Capital Advisory LLP


Carne Group


777 Partners


Carlyle


Development Partners International


Bain Capital


Brookfield Private Equity


Work highlights


  • Advised Etrading Software Limited and its shareholders in relation to an investment by Lloyds Development Capital into Etrading Software.
  • Advised Aquiline Capital Partners LLC on its acquisition of a controlling stake in Ripe Insurance.
  • Advised Tiger Infrastructure Partners on its control investment of £75 million in Rural Broadband Solutions Holdings Limited.

Reed Smith LLP

In addition to its sponsor-side work, Reed Smith LLP notably works with a host of portfolio companies operating across the life sciences, consumer goods, and media sectors, handling a mix of transactions. Practice co-chair Philip Taylor is noted for his cross-border capabilities, most recently advising on mid-market deals in the television sector. Fellow co-chair Mark Sanders is recommended for his tech sector acumen, while Sam Webster‘s industry focus spans from manufacturing to life sciences. Ravi Pattani – well-versed in cross-border PE and VC-driven work – is also recommended.

Practice head(s):

Philip Taylor; Mark Sanders


Other key lawyers:

Sam Webster; Ravi Pattani


Shoosmiths LLP

With a 'very experienced team with good depth', clients praise Shoosmiths LLP for its broad capabilities in mid-market transactions, where the team acts for a host of PE firms and portfolio companies. The group's regular workload includes a number of multimillion-pound acquisitions and disposals, as well as investment deals and reorganisations. The team is jointly headed up by Amit Nayyar, a 'commercial and pragmatic' figure who divides his time between London and Milton Keynes, and national PE head Sean Wright, who works between the firm's offices in London and Solent. Other key figures include Sanjeev Sharma, who also heads up the firm's Corporate South team, and Kiran Dhesi, who leads the London-based private equity offering, working closely with a number of the firm's leading sponsor clients.

Practice head(s):

Amit Nayyar; Sean Wright


Other key lawyers:

Kiran Dhesi; Sanjeev Sharma


Testimonials

‘Great team – hassle-free, focus on the key points, up to date with all legislative changes.’

‘Amit Nayyar is, first and foremost, a great man and very personable. Not to mention bright and astute on the key points one needs to think through – something that years of experience adorns.’

‘Very experienced team with good depth. Pragmatic and keen to get to the answers quickly – not just letting the clock tick on. Always someone available to talk to with good cover as needed. Senior people available when needed.’

‘Amit Nayyar is one of the most commercial and pragmatic lawyers I’ve come across. Able to cut through noise to heart of an issue and suggest constructive resolutions. Super reactive and responsive to needs, especially when in the middle of negotiations.’

Key clients

Five Arrows Principal Investments


Five Arrows Capital Partners


Five Arrows Growth Capital


Norland Capital


BGF Investments LP


Lloyds Development Capital


Portchester Equity


DIF Capital Partners


Envitia Group Plc


Livingbridge


NorthEdge Capital


Cow Corner Investments


YFM Private Equity Limited


Heligan Private Equity LP


Moorfield Group Limited


Foundation Investments Partners LP


Downing LLP


Capfun UK Limited


Leftfield Capital


BCIS


Liberty CF


Work highlights


  • Advising the investment arm of Rothschild & Co, Five Arrows Principal Investments (“FAPI”), on its acquisition of Mintec, a leading global provider of food-related commodity prices, forecasts, and advanced analytics to the $9 trillion food industry.
  • Advising Five Arrows Principal Investments and Synova-backed Mintec on its acquisition of AgriBriefing.
  • Advising Leftfield Capital on its disposal of its diversified portfolio of twenty urban logistics assets to Kennedy Wilson, a global real estate investment company for £227.5m.

Burges Salmon LLP

Always client-centric, always available‘, Burges Salmon LLP frequently handles buy and sell-side transactions for management teams, sponsors, and investor clients. Based between Bristol and London, practice head Mark Shepherd has most recently worked with portfolio companies in the automotive and leisure sectors. Danny Lee – who divides his time between London and Edinburgh – is experienced in both buyouts and investment transactions, while Richard Spink is a key port of call for the firm’s ultra-high-net-worth client base. Legal director Tim Roberts is also recommended. Andrew Mills, former head of PE at MJ Hudson, joined the team in April 2023. All named lawyers are based between Bristol and London unless stated otherwise.

Practice head(s):

Mark Shepherd


Other key lawyers:

Danny Lee; Andrew Mills; Tim Roberts; Richard Spink


Testimonials

‘The team were proactive in reaching out and seeking to understand our needs and interests. Worked diligently and effectively within a complicated transaction to deliver the end goal.’

‘Danny Lee was entrepreneurial in seeking to work for us, diligently seeking to understand our needs with regards to transaction structure and drafting.’

‘A business that supports a diverse workforce and from that workforce creative solutions are delivered. Always client centric, always available. Great value for money.’

‘Tim Roberts is an exceptional practitioner.’

‘Richard Spink provides great client service.’

‘The team are exceptional at protecting their clients whilst being pragmatic where appropriate to ensure the deal gets completed without risk to the client.’

‘Richard Spink has worked on a number of deals for me over many years. He has provided exceptional advice, ensured my interests are protected whilst ensuring every single transaction reached a successful conclusion and did not fall over. He is very easy to work with, has very high integrity and now understands what is and is not important to me when negotiating a deal.’

Key clients

Zetland Capital Partners


Livingbridge


Inverleith


Panoramic Growth Equity


Circularity Capital


LDC


BGF (formerly Business Growth Fund)


Octopus Investments


Bridges Fund Management


Causeway Capital


Work highlights


  • Acted as UK counsel in advising private equity backed svt Holding GmbH on its acquisition of UK-based Technical Fire Safety Group Limited.
  • Advising management of Trustmarque Solutions Limited on their equity investment alongside One Equity Partners (OEP) following OEP’s acquisition of Trustmarque Solutions.
  • Acting for Octopus investments (through Fern Healthcare Holdings Limited) on the acquisition of Elivia Homes Limited.

Charles Russell Speechlys LLP

Turned to by both PE firms and portfolio companies, Charles Russell Speechlys LLP is regularly engaged on lower mid-market transactions. The practice is jointly led by David Coates, an active adviser with particular experience in the TMT and retail sectors, and Andrew Clarke, whose broad capabilities span sponsor, management team, and HNWI representation. Rebecca Burford, noted for her focus on management buy-outs and growth capital investments, has most recently advised on deals in the healthcare and logistics sectors. In Cheltenham, Adrian Mayer is especially noted for his Africa-focused work. Cheltenham-based corporate finance partner Jonathan Morley is also recommended.

Practice head(s):

Andrew Clarke; David Coates


Other key lawyers:

Rebecca Burford; Adrian Mayer; Jonathan Morley


Key clients

Shareholders of Modern Networks


Shareholders of Fudco


IFS


AgDevCo


Appital Limited


Puma Private Equity


Oakfield Capital Limited


Management sellers of Online Fuels Limited


CMO Group Plc


Content+Cloud


Daystar Power


Actis LLP


M-Kopa Solar


Metier Private Equity


Battery Ventures


Ascent Africa Capital (Ascent Rift Valley Fund II)


Work highlights


  • Advised Stonegate on its investment into Peckwater Brands as part of a wider £15m series A funding round.
  • Advised AgDevCo, a specialist impact investor in African agribusinesses, on its recent $70m equity funding from the CDC Group, and Norfund.
  • Advised Maitland Medical Services Ltd, a subsidiary of Doctors Clinic Group Ltd which is backed by private equity firm Oakfield Capital, on its acquisition of Soma Health Limited.

RPC

Responsive and engaged‘, RPC‘s sector coverage most notably spans the insurance, tech, and financial services sectors. Practice head David Wallis is a prolific adviser with considerable market experience in sponsor and management-side work, handling sales, acquisitions, and investment deals. James Mee is particularly noted for his capabilities in the insurance sector, while Jeremy Cunningham’s wide-ranging cross-border practice covers insurance, engineering, and film production. Jeremy Cunningham is praised by clients for his financial services and insurance acumen.

Practice head(s):

David Wallis


Other key lawyers:

James Mee; Jeremy Cunningham; Chris Brierley


Testimonials

‘The team is responsive and engaged. Chris Brierley will handle queries and calls directly without the need involve a broader team, but when a larger team is required, he is very prompt in delivering.’

‘Chris Brierley is responsive, has excellent judgement and clearly explains technical legal matters to non-legal investors.’

‘James Mee is excellent – one of our favourite people to work with.’

‘Very capable and thoughtful team – very commercial and user friendly.’

Key clients

Agribriefing


Asta


Ebury (Santander and Vitruvian-backed)


Axcel


JRJ


Preservation Capital Partners


Keyhaven Capital


Paine Schwartz


Beat Capital Partners


Asahi Kasei


Work highlights


  • Advised the management team of Agribriefing on the sale of Agribriefing to Five Arrows Principal Investments and Synova-backed Mintec.
  • Advised the management team of Asta Capital on its sale to Davies Group.
  • Advised Ebury Partners on the further issuance of shares worth £173m to Santander, and the combination of these shares with a purchase of existing shares.

Watson Farley & Williams LLP

Operating as a subset of the wider corporate and tax team, Watson Farley & Williams LLP notably works with management teams and sponsors on deals across the energy, infrastructure, and transport sectors, and particularly in emerging markets. Corporate head Chris Kilburn is especially noted for his capabilities in energy sector deals, acting for a range of investors and portfolio companies, both domestically and internationally. Andy Savage‘s experience encompasses renewables and social infrastructure, while Daniel Saunders is rated by clients for his expertise in shipping and offshore oil and gas. Mark Tooke is also recommended for his knowledge of maritime matters.

Practice head(s):

Chris Kilburn


Other key lawyers:

Andy Savage; Daniel Saunders; Mark Tooke


Testimonials

‘Daniel Saunders stands out for his commercial knowledge of the industry and for building relationships based on trust. He always finds a way out of complicated and complex situations leaving all sides satisfied and more importantly in the most beneficial way for the client.’

Key clients

Transitional Energy Group


Nala Renewables


Altamin Limited


Snam S. p.A


Apollo Global Management


InfraRed Capital Partners


LeapFrog Investments


DIF


Helios Energy Investment


Trafigura Pte Ltd


Transitional Energy Group


Work highlights


  • Advising a private equity fund on its investment into a financial services business.
  • Advising Apollo Global Management as special aviation counsel on the US$700m debtor-in-possession financing for Scandinavian Airlines as part of the airline’s Chapter 11 restructuring.
  • Advising on the joint venture between Hive Energy and Transition Energy Group Holdings Limited for the development of the 3+GW Gente Grande, green ammonia project in Tierra del Fuego, Chile.

Winston & Strawn LLP

Drawing on close working ties with the firm’s US offices, Winston & Strawn LLP works with various sponsors on a range of lower mid-market acquisitions, disposals, and financing mandates. Practice co-chair Paul Amiss is noted for his cross-border expertise, with recent engagements including a number of transatlantic acquisitions in the leisure sector. Fellow co-chair and London managing partner Nicholas Usher is an especially active figure within the practice, working on a number of portfolio investments and buyouts – particularly in the manufacturing and healthcare sectors. Chelsea Thompson regularly supports the team in PE transactions.

Practice head(s):

Paul Amiss; Nicholas Usher


Other key lawyers:

Chelsea Thompson


Key clients

Abercross GP Limited


Argand Partners


Biotex Medical Device Fund I LP


Bregal Investments Inc.


Capdesia Group Limited


Financial Acquisitions Corp


JLL Partners LLC


May River Capital LLC


SunCap Limited


Tiger Infrastructure Partners, LP


Work highlights


  • Represented Sentry Centers Holdings (dba Convene) in connection with its acquisition of UK-based peer venues.
  • Represented UK PE group SunCap Limited on its acquisition of Adventure Forest LLC for an approximate enterprise value of $38 million.
  • Represented Bregal Investments, Inc. in its acquisition and financing of portfolio company, State of Play.