The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

Travers Smith LLP

10 SNOW HILL, LONDON, EC1A 2AL, ENGLAND
Tel:
Work 020 7295 3000
DX:
1111079 LONDON CITY EC1
Email:
Web:
www.traverssmith.com
London, Paris

London: Corporate and commercial

Commercial contracts
Commercial contracts - ranked: tier 1

Travers Smith LLP

Travers Smith LLP provides 'a very high quality and responsive commercial contracts service' under the leadership of Tom Purton, who is 'a very steady hand'. Its first-rate reputation makes it a strong choice for advice on outsourcing arrangements, joint ventures and collaborations, franchising, logistics and infrastructure contracts, and other complex, strategic agreements. In 2017, Ben Chivers acted for McColl's Retail Group in the negotiation of a wholesale distribution agreement with Morrisons Supermarkets Plc worth more than £1bn. Another highlight saw Purton and senior associate Rowan Armstrong act for property investment fund Benson Elliot in a joint venture with Générale Continentale Investissements relating to the purchase and development of a high-value property near Paris, France. Richard Brown was the lead adviser to BUUK Infrastructure on various long-term utility infrastructure deals recently, including long-term contracts for district heating infrastructure at major housing/commercial developments. Brown and others also advised the same client on a multi-year second generation smart meter deal with OVO Energy. Senior associate Sonny Mallet is a name to note.

Leading individuals

Tom Purton - Travers Smith LLP

Next generation lawyers

Ben Chivers - Travers Smith LLP

[back to top]

Corporate tax
Corporate tax - ranked: tier 3

Travers Smith LLP

Travers Smith LLP has 'an outstanding' tax department composed of 'first-rate' solicitors. The firm is most noted for its private equity tax work, but it also has a strong corporate finance offering. The team is led by 'excellent lawyer' Simon Skinner, who advised Element Materials Technology Group on its £620m takeover of Exova Group; a deal that required tax structuring for the acquisition, with new funding into the UK and US Group and public company considerations. Possessing 'outstanding technical abilities', Jessica Kemp advised Shazam on its acquisition by Apple through a share purchase agreement. The 'business-savvy' Kathleen Russ leads on a number of matters for Zoopla Property Group alongside 'proactive' Madeline Gowlett. Hannah Manning was promoted to partner in July 2017 and specialises in the tax elements of private equity and M&A transactions.

[back to top]

EU and competition
EU and competition - ranked: tier 4

Travers Smith LLP

Travers Smith LLP¬†fields ‚Äėa high-quality competition practice‚Äô that is ‚Äėresponsive, knowledgeable, and very user friendly‚Äô. ‚ÄėTop-notch‚Äô practice head¬†Nigel Seay¬†‚Äėis highly skilled and an excellent strategist‚Äô, whose key clients include Bridgepoint, 3i Infrastructure and Schott.¬†Stephen Whitfield¬†is a key partner for the team and ‚Äėis an approachable and very practical lawyer who is easy to get on with‚Äô. Seay and Whitfield have been acting for longstanding client Shazam on its sale to tech giant Apple in the EC‚Äôs investigation, an especially notable project at a time of heightened concern over tech mergers by merger control authorities. The team is also active in EU and UK market and cartel investigations and provides strategic compliance advice.

[back to top]

Equity capital markets
Equity capital markets - ranked: tier 3

Travers Smith LLP

Praised for its 'excellent technical knowledge, commercial nous, good work ethic and user-friendly culture', Travers Smith LLP's department is well-versed in IPOs, particularly of private equity-backed companies, and counts technology and listed investment funds as sector strengths. It also has US securities expertise, courtesy of Dan McNamee, who assisted Aaron Stocks in advising Assura on its secondary issuance of up to £330m on the Main Market. Philip Cheveley acted for Zeus Capital and Numis Securities as global co-ordinators and bookrunners, and for Stockdale Securities as sponsor, on JTC's £310m IPO; he also advised Zeus Capital and Deloitte, as bookrunner and sponsor respectively, on Xafinity's £190m IPO. Adrian West, Will Normand  and Richard Spedding are also recommended.

[back to top]

Financial services
Financial services (non-contentious/ regulatory) - ranked: tier 2

Travers Smith LLP

Financial services contentious - ranked: tier 2

Travers Smith LLP

Travers Smith LLP¬†has ‚Äėsignificant visibility in the market' and provides an 'exceptional level of service' which considers the 'commercial objectives' of the clients which include asset management firms, investment banks, broker-dealers and trading venues. Leveraging the firm's institutional alternative asset management client base as well as receiving standalone work in the area, the team is 'particularly strong when it comes to advising UK private equity firms on their operations'. As well as regularly providing regulatory input on fundraising processes and in relation investment work, the team has also been very active for alternative investment management clients on large-scale regulatory projects including MiFID ii implementation and on the impact of Brexit. Team head Tim Lewis has an excellent reputation within the alternative asset management space as is underscored by his role as chair of the Regulatory Committee of the British Private Equity and Venture Capital Association (BVCA). Lewis recently provided regulatory input for TA Associates on its acquisition of a ¬£26bn global fund management business from Old Mutual Wealth. The 'outstanding'¬†Phil Bartram has 'the rare ability to explain complex regulatory issues in a clear, concise and jargon-free manner' and provides 'commercial and solutions focused advice' to funds clients, in particular. The 'exceptional'¬†Mark Evans has 'an expansive and deep knowledge of all regulations that touch and concern UK and European financial services'.¬†Evans is noted for his financial market infrastructure work, particularly in relation to clearing and settlement systems, and is providing regulatory input to Euroclear UK & Ireland, on the restructuring of its UK and international central depositories businesses.¬†Jane Tuckley , Stephanie Biggs and consultant Margaret Chamberlain¬†are also recommended. On the contentious front, the 'very experienced'¬†Rob Fell provides a 'first-rate service' and along with the 'incredibly strong' Huw Jenkin recently successfully concluded its long-running representation of The Bank of England in the Serious Fraud Office's investigation into crisis-era liquidity auctions.¬† Fell has also represented an investment bank, as one of the defendants market. The 'very dedicated'¬†Caroline Edwards has an 'incredible reputation' and is a key member of the contentious team that also includes Stephen Paget-Brown and senior associate Stephanie Lee, who is 'developing a significant amount of experience advising institutions and individuals'.

Leading individuals

Mark Evans - Travers Smith LLP

Phil Bartram - Travers Smith LLP

Tim Lewis - Travers Smith LLP

Next generation lawyers

Stephanie Lee - Travers Smith LLP

[back to top]

Flotations: small and mid-cap
Flotations: small and mid-cap - ranked: tier 1

Travers Smith LLP

In 2017, Travers Smith LLP acted for the issuer or investment bank in four IPOs (Official List, AIM and Specialist Fund Segment) with an aggregate value of £845m. In addition, it was involved in 22 placings and other secondary fundraisings (where total funds raised amounted to more than £1.9bn) and it also handled three reverse takeovers. A highlight involved Adrian West and senior associate Tom Coulter assisting TruFin Plc with its £185m AIM admission and related placing. In another matter, West and Coulter acted for finnCap (as NOMAD and sole bookrunner) in PROACTIS' $132.5m acquisition of Perfect Commerce by way of a reverse takeover. Another highlight involved assisting Volex Plc with its move from the Main Market to AIM. The firm also advises all of the NOMADs who act for the FTSE AIM 100 companies; clients include Zeus Capital, Liberum Capital, Investec Bank and Peel Hunt. Dan McNamee heads up a team that specialises in covering US securities law issues. Neal Watson is the head of corporate finance. Andrew Gillen, Richard Spedding and Spencer Summerfield are also recommended.

Leading individuals

Andrew Gillen - Travers Smith LLP

Spencer Summerfield - Travers Smith LLP

Next generation lawyers

Tom Coulter - Travers Smith LLP

[back to top]

M&A: upper mid-market and premium deals, £250m+
M&A: upper mid-market and premium deals, £250m+ - ranked: tier 3

Travers Smith LLP

Travers Smith LLP¬†is praised for its ‚Äėexcellent level of service‚Äô and ‚Äėspeedy and sound advice at sensible prices‚Äô. The ‚Äėpractical, tenacious and results-driven‚Äô¬†Spencer Summerfield¬†heads the practice; his recent experience includes advising Micro Focus International on its proposed $8.8bn merger with HP Enterprise‚Äôs software business segment and acting for Ancala Midstream Acquisitions on its acquisition of a 30.28% interest in the Scottish Area Gas Evacuation System. The financial services sector is important for M&A instructions, with head of corporate finance¬†Neal Watson¬†recently advised ETF Securities on the sales of its European exchange-traded commodity, currency and short-and-leveraged business and its UCITS ETF platform to WisdomTree Investments and Legal & General Investment Management respectively. The ‚Äėvery knowledgeable, committed and reliable‚Äô¬†Anthony Foster¬†‚Äėprovides very trustworthy advice‚Äô, recently advising The Peel Group (‚ÄėPeel‚Äô) in connection with Hammerson‚Äôs ¬£3.4bn recommended offer for Intu Properties, which Peel holds a 27% stake in. The department‚Äôs other clients include 3i Infrastructure, Brewin Dolphin, Paragon and Spire Healthcare Group. Recommended as ‚Äėa joy to work with‚Äô,¬†Philip Cheveley¬†‚Äėis a customer facing solicitor with a wealth of relevant knowledge‚Äô.¬†Jon Reddington¬†is also noted as 'practical and sensible'.

Leading individuals

Spencer Summerfield - Travers Smith LLP

[back to top]

Private equity: transactions
Private equity: transactions ‚Äď high-value deals - ranked: tier 3

Travers Smith LLP

Private equity: transactions ‚Äď mid-market deals - ranked: tier 1

Travers Smith LLP

Travers Smith LLP is, according to its clients, 'the best of the midmarket firms'; it has 'no weak links throughout, a good culture and it spends time understanding the client'. It is also 'very good on all aspects' of large-cap deals. The firm secured a number of high-profile and transformational mid-cap and large-cap deals in 2017, as demonstrated by Paul Dolman, Adam Orr, recently promoted senior counsel Alex Dixon and George Weavil's advice to longstanding client TA Associates on the £600m acquisition of Old Mutual Wealth's single strategy asset management business. Another highlight saw Dolman, Spencer Summerfield, Ian Shawyer and others act for Bridgepoint and its investee company Element Materials Technology Group (Element) in Element's public-to-private acquisition of Exova Group for £620m. In the mid-cap space, Shawyer led a team which advised Bridgepoint on its acquisition of the UK master franchise of Burger King. 3i, Group, Hellman & Friedman and Silverfleet Capital are also active clients. Other notable practitioners in the team include senior partner Chris Hale, whose 'wise counsel is very much appreciated', as well as Emma Havas, Will Yates, Lucie Cawood and James Renahan. Edmund Reed is a particularly prolific dealmaker in the market. Weavil, Ian Keefe and Genevieve Marten all recently made partner.

Leading individuals

Chris Hale - Travers Smith LLP

Paul Dolman - Travers Smith LLP

Next generation lawyers

Adam Orr - Travers Smith LLP

[back to top]

London: Crime, fraud and licensing

Fraud: civil
Fraud: civil - ranked: tier 2

Travers Smith LLP

Travers Smith LLP¬†has ‚Äėan amazing focus on client relationships and is technically outstanding‚Äô. The firm continues to act for various Hewlett-Packard group companies in relation to $5bn fraud proceedings in the Chancery Divison, this is one of the largest fraud cases that has been brought before the English Courts. It also acts for J√≥hannes J√≥hannsson, a member of the Winding-up Committee of the Icelandic Bank Kaupthing. The firm is advising him on court proceedings that arose out of asset recovery work around Kaupthing‚Äôs insolvency in a matter worth ¬£750m. Rob Fell,¬†Stephen Paget-Brown, Andrew King¬†and Toby Robinson¬†are ‚Äėfabulous all-round technicians whose attention to detail and great work ethic sets them apart‚Äô. Heather Gagen¬†was promoted to partner.

[back to top]

London: Dispute resolution

Banking litigation: investment and retail
Banking litigation: investment and retail - ranked: tier 2

Travers Smith LLP

'A rising force in the banking disputes market', Travers Smith LLP 'has a fantastic team and is very well-placed to service the top cases'. It has extensive experience of handling complex banking disputes, including technical disputes relating to share transfers, money transfers, breaches of mandate, the operation of the CHAPS system, cheques and other instruments; matters involving allegations of fraudulent activity; and instructions arising out of the global financial crisis that involved trades in derivatives and CDOs. The team advised the Bank of England (BoE) on the Serious Fraud Office (SFO) investigation into crisis-era liquidity auctions; the investigation looked into whether the BoE favoured certain financial institutions in bids for funding facilities, potentially to the detriment of other firms. Rob Fell is the recently appointed dispute resolution head, taking over from 'standout individual' Stephen Paget-Brown, who moved to an outward facing senior litigator role focusing on business development; Fell is 'a leader in this area and a superb choice as the firm's head of this department'. Other widely respected litigators are Andrew King, Caroline Edwards, Jan-Jaap Baer, Huw Jenkin, and Toby Robinson; Sam Cottman is a key senior counsel.

Leading individuals

Caroline Edwards - Travers Smith LLP

Next generation lawyers

Sam Cottman - Travers Smith LLP

[back to top]

Commercial litigation
Commercial litigation - ranked: tier 3

Travers Smith LLP

Travers Smith LLP's 'top-notch team provides clients with an excellent, all-round service'.  In one of the most significant pieces of litigation currently before the English courts, it continued to represent various Hewlett-Packard group companies (HP) in $5bn fraud proceedings in the Chancery Division, which arose out of the $11bn acquisition of Autonomy Corporation by HP in 2011. The 'excellent tactician' Rob Fell was appointed dispute resolution department head, taking over from Stephen Paget-Brown. Andrew King is 'hardworking and clever'; Caroline Edwards 'cares about clients' interests'; and Jan-Jaap Baer is 'very responsive and thorough'. Other recommended practitioners include Huw Jenkin and Toby Robinson, while Heather Gagen and Stephanie Lee were promoted to the partnership.

Leading individuals

Rob Fell - Travers Smith LLP

Stephen Paget-Brown - Travers Smith LLP

Next generation lawyers

Heather Gagen - Travers Smith LLP

[back to top]

Competition litigation
Competition litigation - ranked: tier 3

Travers Smith LLP

Travers Smith LLP's 'extremely strong' litigation team takes a cross-departmental approach to competition litigation; co-led by 'profoundly knowledgeable' competition lawyer Nigel Seay and 'extremely smart' litigator Caroline Edwards. The group predominantly represents defendants in follow-on and standalone damages cases and in appeals against competition authorities. The group continues to advise chip manufacturer Renesas on a major follow-on damages claim brought by Vodafone, following a European Commission cartel ruling in 2014. 'Impressive litigator' Heather Gagen was promoted to partner in July 2017. Stephen Whitfield is another key name.

[back to top]

London: Finance

Acquisition finance
Acquisition finance - ranked: tier 4

Travers Smith LLP

Benefiting from deeply entrenched private equity sponsor relationships and increasingly active on the bank side, the 'user-friendly, responsive and commercial' six-partner team at Travers Smith LLP is recognised as 'one of the preeminent firms in the mid to upper mid-market leveraged space'. Praised for the 'intellectual calibre' of the practitioners within the team, one lender client highlighted its ability 'to understand issues from a lender's perspective but always with an eye to ensuring we push for important points rather than more pedantic areas, which will only serve to aggravate the borrower / client whilst adding limited value'. On the borrower front, the 'pragmatic and commercial' Donald Lowe recently advised Canaccord Genuity Wealth Management on the senior debt facilities made available for the purpose of financing its acquisition of Hargreave Hale. The 'unflappable and commercial' Barry Newman acted for WiggleCRC group (an investee company of Bridgepoint) on the financing associated with its acquisition of German bicycle retailer Bike24. Benefiting from a 'wealth of experience', 'very commercial' team head Matthew Ayre advises a balanced mix of borrower and lender clients and is a key member of the team that also includes Charles Bischoff, who primarily acts for lenders including RBS and Shawbrook;  Andrew Gregson; and 'rapidly rising star' senior associate Katie McMenamin.

[back to top]

Bank lending: investment grade debt and syndicated loans
Bank lending: investment grade debt and syndicated loans - ranked: tier 5

Travers Smith LLP

In addition to the firm's tremendous flow of mid-market leveraged finance mandates for an impressive roster of private equity sponsors, Travers Smith LLP also handles a significant amount of corporate lending and corporate acquisition finance matters. Matthew Ayre and Danny Peel acted for ZPG plc on two upsizes to their existing facilities to fund two bolt-on acquisitions (of Money.co.uk and Hometrack.co.uk). On the lender side, Peel and Charles Bischoff spearhead the firm's accomplished fund finance offering. Bischoff recently acted for Investec Bank in relation to term and revolving facilities made available to affiliates of PIB Group to assist them in, amongst other things, making certain acquisitions permitted under the terms of the facilities agreement. Other clients include RBS, Silicon Valley Bank, Peel Group and Pret a Manger.

[back to top]

Corporate restructuring and insolvency
Corporate restructuring and insolvency - ranked: tier 7

Travers Smith LLP

Travers Smith LLP's two-partner team handles a large volume of mid-market debtor mandates thanks to its market-leading private equity practice, in addition to acting in several high-profile CVAs within the retail sector. Highlights included acting for Carpetright plc on its recent financial and operational restructuring by way of an inter-linked CVA and £60m equity fundraising (in what was only the third CVA of a listed entity). Team head Edward Smith led on the aforementioned deal as well as for Carluccio's on its recent CVA-facilitated restructuring. Peter Hughes has an excellent reputation in the pensions space and regularly handles restructuring-related work for pensions trustees.

[back to top]

Derivatives and structured products
Derivatives and structured products - ranked: tier 3

Travers Smith LLP

At¬†Travers Smith LLP¬†'the team is very knowledgeable and helpful,¬†mixing legal knowledge with commercial acumen to offer practical solutions to real world problems'.¬†'The¬†advice is always well thought through and practical', remarks one client. The firm is known for its advice to¬†investment managers, challenger banks, blue-chip pensions schemes, private equity funds, corporates and financial institutions on derivatives, repos, securities lending, investment products and regulatory matters.¬†Peter Hughes¬†is a key partner in the buy-side practice, as is¬†the 'friendly, efficient, responsive, eloquent, and effective'¬†Jonathan Gilmour¬†, who¬†is 'very experienced and good communicator'. One client notes that he 'has a broad knowledge of the market and is able to apply this effectively to explain matters in simple terms'. Hughes and Gilmour acted for Poland's Bank Ochrony Ňörodowiska in organising its EMIR clearing requirements.¬†'Very knowledgeable and responsive' senior associate¬†Vanessa Battaglia¬†is the lead associate for key clients such as¬†clients such as Brown Brothers Harriman and Cheque & Credit Clearing Company. 'Approachable, knowledgeable and commercial' senior associate¬†Joseph Wren¬†focuses on private equity, funds and investment managers clients and is a key contact for 3i, Allianz Global Investors and Bridgepoint.

[back to top]

London: Human resources

Employee share schemes
Employee share schemes - ranked: tier 2

Travers Smith LLP

Travers Smith LLP 'performs at a very high level'. The practice covers the full range of work in this area, from designing and implementing incentive arrangements to providing transactional support and handling advisory work. Mahesh Varia leads the department; he recently advised Micro Focus International on the incentives component of its merger with HPE Software, acted for Shazam Entertainment on the share elements of its acquisition by Apple and assisted Rockwell Collins with the implications of its merger with United Technologies on its share incentive plan. Senior counsel Elissavet Grout and associate Kevin Donegan are also names to note; they acted for Vantiv on the share scheme issues involved in its merger with Worldpay Group.

Leading individuals

Mahesh Varia - Travers Smith LLP

Next generation lawyers

Kevin Donegan - Travers Smith LLP

[back to top]

Employment: employers and senior executives
Employment: employers and senior executives - ranked: tier 2

Travers Smith LLP

Recent work for¬†Travers Smith LLP's 'exceptionally talented' department includes representing a client in the media sector in a sex and pregnancy discrimination claim; advising Micro Focus International on the employment aspects of its acquisition of HPE's OpenStack and Cloud Foundry assets; and assisting the Bank of England with the dismissal of an employee and representing it in the Employment Tribunal in claims relating to unfair dismissal and a breach of the right to be accompanied to a disciplinary meeting. Clients include AIG, Bidvest, Metro Bank, Virgin Active and Western Union.¬†Ed Mills¬†took over as head of the department in 2018; other key figures include¬†Si√Ęn Keall, who¬†is the key name for discrimination mandates, and¬†Tim Gilbert, who¬†regularly handles TUPE transfers and employment litigation.¬†Adam Wyman¬†made partner in 2018.

[back to top]

Immigration
Immigration: business - ranked: tier 5

Travers Smith LLP

Travers Smith LLP‚Äôs ‚Äėprofessional‚Äô and ‚Äėapproachable‚Äô business immigration department works closely with its employment department and is regularly instructed on sponsorship licence compliance issues, Tier 2 visas for senior executives and highly specialised professionals, as well as Tier 1 Entrepreneur visa applications and extensions. Davidson Kempner, Bridgepoint, Bain Capital, The Access Group, Bidfood and Metro Bank are clients. Tim Gilbert¬†acts for clients across the financial services, leisure, media and sports sectors on immigration sponsorship licences, compliance and work visas. Si√Ęn Keall¬†is instructed by a range of clients in the financial services sector. Senior associate Moji Oyediran, who joined from Kingsley Napley LLP¬†¬†in 2017, is ‚Äėresponsive, pro-active and thinks around corners‚Äô. Employment head Ed Mills¬†leads the team and acts for clients across the financial services, media, pharmaceuticals, manufacturing, retail, leisure and defence sectors.

[back to top]

Pensions
Pensions (non-contentious) - ranked: tier 2

Travers Smith LLP

Pensions: dispute resolution - ranked: tier 3

Travers Smith LLP

The 'personable and highly strategic' Daniel Gerring leads the department at Travers Smith LLP, which 'clearly understands the client's needs and has the knowledge to execute a comprehensive and reliable plan'. The team handles investment, risk and liability management work, contractual issues, funding matters and pensions disputes. In a recent highlight, the 'excellent' Paul Stannard advised the trustees of the British Steel Pension Scheme on separating the scheme from its sponsoring employer and establishing a new scheme; other work includes Gerring assisting the trustees of the MGN Pension Scheme with its merger with the Mirror Group Pension Scheme, Philip Stear advising the trustees of the Dow Services UK Pension Plan on the company's separation into three independent companies, and the 'thorough and determined' Dan Naylor handling the non-US pensions elements of Micro Focus' merger with Hewlett Packard Enterprise. Susie Daykin is recommended for trustee advisory work and derisking transactions, and senior associate Karen Sahota is 'brilliant'.

Leading individuals

Daniel Gerring (non-contentious) - Travers Smith LLP

Paul Stannard (non-contentious) - Travers Smith LLP

Susie Daykin (non-contentious) - Travers Smith LLP

Next generation lawyers

Karen Sahota (non-contentious) - Travers Smith LLP

[back to top]

London: Insurance

Product liability: defendant
Product liability: defendant - ranked: tier 4

Travers Smith LLP

Douglas Bryden heads the operational risk group at Travers Smith LLP  and is the primary contact for product and trade law, including work relating to chemical and hazardous substances, liability matters, market access, and product safety and recalls. Other key contacts include senior associate and regulatory expert Carl Boeuf and partner Heather Gagen. The firm continues to advise Nike on EU regulatory matters. It is also acting for an electronics manufacturer in a commercial dispute and product safety issues and advising an international clothing retailer with regard to regulatory compliance issues concerning product composition and labelling.

[back to top]

London: Investment fund formation and management

Listed funds
Listed funds - ranked: tier 2

Travers Smith LLP

Travers Smith LLP is 'responsive and commercial, with good technical and market knowledge - it has a very well-connected cross service line approach including fund formation, regulatory and tax'. Aaron Stocks  and senior associate Leigh Stockey advised Impact Healthcare REIT on its IPO and a subsequent tap issue. Stocks' bookrunner-side work includes advice to RBC Capital Markets on Greencoat Renewables' admission to AIM; the manager was the first renewables infrastructure company to list on the Irish Stock Exchange and the first Euro-denominated one in its asset class to list in London. He also advised Deloitte as financial adviser and joint placing agents Peel Hunt and Zeus Capital on the IPO of Tri-Pillar Infrastructure Fund Limited. Will Normand advised Liberum Capital as placing agent and bookrunner of a secondary placing carried out by Honeycomb Investment Trust, and Aggregated Micro Power Infrastructure 2 on an issuance of secured loan notes on the Cayman Islands Stock Exchange. Jon Reddington advised Draper Esprit on plans for a proposed placing of shares. Other clients include Liberum Capital, which Normand advised on its role as placing agents for EJF Investments' admission to the Specialist Funds Segment.

Leading individuals

Aaron Stocks - Travers Smith LLP

Next generation lawyers

Will Normand - Travers Smith LLP

[back to top]

Private funds
Private funds - ranked: tier 3

Travers Smith LLP

Travers Smith LLP¬†'clearly takes the time to understand clients' strategy and needs, which is reflected¬†in the highly commercial advice they¬†receive'. Clients single out Sam Kay¬†¬†as¬†'highly commercial with an astonishing breadth and depth of knowledge - when clients call him, they know he will have a solution to their problem and if he does not, he will find one'.¬†Senior associate Edward Ford¬†'epitomizes¬†everything clients like about the firm - he takes the time to understand clients' business needs, and uses it to exercise strong commercial judgement'. Ford and Kay advised Abris Capital Parnters on forming Abris CEE Mid-Market Fund III, which raised ‚ā¨500m to invest in Central and Eastern European buyouts. In infrastructure, Kay and¬† Ford advised the Pensions Infrastructure Platform on creating a multi-portfolio infrastructure fund allowing investors to choose their preferred target rate of return. Jeremy Elmore¬†is 'an excellent fund structuring lawyer, who is very client-oriented, commercial and solution-focused' - his¬†work includes various mandates for fund managers, covering special stituations and infrastructure. As far as funds in life sciences are concerned, Kay advised SV Health Managers on raising Dementia Discovery LP, which in 2017 secured a ¬£20m investment from Woodford Patient Capital Trust and $50m from Bill Gates, and Medicxi Ventures Management on forming Medicxi Growth I, which raised $300m to invest in European life sciences investments in Europe including the UK from a Jersey vehicle, despite commitments from the European Investment Fund against the backdrop of Brexit. Other clients include Aberdeen Asset Management, Local Pension Partnership Investments and Hermes GPE.

[back to top]

Real estate funds
Real estate funds - ranked: tier 3

Travers Smith LLP

Travers Smith LLP is 'extremely professional and commercially astute, across all elements of clients' businesses'. Sam Kay handles work on private real estate funds, including work for sponsors. He also advised Tesco Pension Investment on a real estate joint venture with IO Asset Management. As far as listed real estate funds are concerned, Aaron Stocks, who 'has a complete understanding of clients' responsibilities and objectives, which breeds confidence in the wider team' advised Impact Healthcare REIT on its £160m IPO on the specialist fund segment. Jeremy Elmore is another name of note.

[back to top]

London: Projects, energy and natural resources

Infrastructure (including PFI and PPP)
Infrastructure (including PFI and PPP) - ranked: tier 4

Travers Smith LLP

Travers Smith LLP 's particular strength lies in acting for sponsors such as Macquarie and Northleaf and infrastructure funds in mid-market brown field transactions. The practice is led by corporate specialist Spencer Summerfield who recently advised Ancala on its acquisition of anaerobic digestion group Biogen from Bedfordia and Kier. A collection of funds managed by a longstanding client appointed the group to oversee its acquisition of the holding company of a utility provider and distributor, and senior associate Jonathan Walters was part of the team which guided Arjun Infrastructure Partners through its acquisition of a two solar farm portfolios from Hazel Capital and Anesco.

[back to top]

London: Public sector

Healthcare
Healthcare - ranked: tier 4

Travers Smith LLP

Travers Smith LLP¬†'s team are an ‚Äėextremely competent and commercially astute team with a breadth of experience‚Äô with notable expertise handling large scale M&A transactions and real estate¬†in the healthcare industry. Standout cases this year include head of private equity Paul Dolman¬† and regulatory partner Doug Bryden¬† assisting Bridgepoint on the ¬£855m sale of Oasis Dental Care to BUPA. Edmund Reed¬†and Simon Rutman advised Patron Capital on the sale neuro-disability care provider The Badby Group to Elysium Healthcare. Aaron Stocks¬† in investment funds has ‚Äėcomplete understanding of corporate responsibilities and individual acquisition objectives‚Äô¬†has worked with Impact Healthcare REIT to fundraise ¬£160m on its IPO. Leigh Stockey, Madeleine Gowlett and Sarah Walker are also names to note.

[back to top]

London: Real estate

Commercial property
Commercial property: corporate occupiers - ranked: tier 3

Travers Smith LLP

Commercial property: development - ranked: tier 3

Travers Smith LLP

Commercial property: hotels and leisure - ranked: tier 2

Travers Smith LLP

Commercial property: investment - ranked: tier 3

Travers Smith LLP

Commercial property: retail - ranked: tier 3

Travers Smith LLP

Travers Smith LLP¬†provides real estate investment funds with ‚Äėtop-quality service characterised by sound commercial and legal advice‚Äô on development projects and strategic acquisitions, investment transactions, property finance and portfolio management mandates. The team handles a range of real estate work for Patron Capital, which included department head Simon Rutman¬†advising on the acquisition of land in Oxford for the development of a care home. Rutman also assisted Westrock Capital with the acquisition of a site in Sheffield for a PRS development. Newly promoted partner Emma Pereira is acting for Clearbell Capital in relation to a place-making mixed-use development project at Riverwalk Durham, and has also assisted Lothbury Property Trust Company with letting transactions in retail parks across the UK. Clients also rate Paul Kenny‚Äôs ‚Äėinvaluable property advice‚Äô on major corporate transactions, which recently included advising Micro Focus on property transfers and lease arrangements associated with the client‚Äôs merger with Hewlett Packard‚Äôs software division. Further, the team has advised tenants and landlords on significant London letting transactions involving household name tenants. In mid-2018, Alex Millar¬†joined the team from Jones Day, which will considerably strengthen the firm‚Äôs development and investment practice. Additionally, Anthony Judge and Julian Bass¬†retired from partnership, though the latter remains a consultant in the group.

[back to top]

Environment
Environment - ranked: tier 2

Travers Smith LLP

‚ÄėOne of the best environmental and operational risk teams in the City‚Äô, Travers Smith LLP¬†is ‚Äėstrong on black letter law and commercial to boot‚Äô.¬†Doug Bryden¬†comes highly recommended as head of team, ‚Äėamongst the top handful in London for his business acumen and regulatory know-how‚Äô. Recent work led by Bryden includes advising on a long-running ¬£100m acquisition from Apache in the Scottish Area Gas Evacuation system pipeline and in the Beryl gas pipeline and related onshore gas refinery. Senior associate John Buttanshaw¬†is also recommended, as is senior associate¬†Carl Boeuf¬†has moved in-house to Amazon as corporate counsel.

Leading individuals

Doug Bryden - Travers Smith LLP

[back to top]

Property finance
Property finance - ranked: tier 4

Travers Smith LLP

The team at Travers Smith LLP is praised for its 'extremely high level of customer service' and 'excellent knowledge of the field, which is combined with unrivalled commerciality'. On the lender side, the team has acquired a number of new clients, including clearing banks such as Wells Fargo and the Royal Bank of Canada, debt funds such as Laxfield Capital, and insurer Rothesay Life. It also specialises in advising private equity real estate funds, and recently handled several opco/propco matters; practice head Danny Peel and Paul Kenny acted for Dean & Reddyhoff, an investee company of Mansford Capital, on the refinancing of debt facilities secured on a portfolio of five marinas, as well as advising new client Office Space in Town, a provider of serviced office space, on the refinancing of existing senior and mezzanine facilities. Other clients include Patron Capital, Clearbell Capital and Benson Elliot.

[back to top]

Property litigation
Property litigation - ranked: tier 4

Travers Smith LLP

Travers Smith LLP¬†provides clients with an ‚Äėexcellent‚Äô service, ‚Äėresponses are always on time and the level of knowledge and detail is outstanding‚Äô. The ‚Äėcalm, knowledgeable and professional‚Äô Andrew Ross¬†heads the team and is acting for Chelsea Stadium Limited in the redevelopment of Stamford Bridge. Two neighbouring landlords have claimed that the proposed ¬£1bn development of the stadium will result in an obstruction of rights of light. The team has also been instructed by Clearbell Capital to obtain possession from several tenants at the client‚Äôs Riverwalk shopping centre which is set to undergo a development. Core strengths for the firm include restrictive covenants, professional negligence and breaches of development agreements. Other clients include Pure Gym, Lothbury Property Trust and Patron Capital.

[back to top]

London: Risk advisory

Corporate governance
Corporate governance - ranked: tier 1

Travers Smith LLP

Travers Smith LLP has adopted a multifaceted approach to delivering governance and risk advisory services to its clients. A specialist group led by Doug Bryden advises clients on developing and implementing structures, policies and procedures that address traditional governance risks, as well as wider environmental and social risks involving issues such as human rights, sustainability and ethical investment. Laura Summerfield heads up a group that focuses on governance regulation and best practice guidance for listed companies; the scope of the advice includes corporate culture, directors' duties, management of board-level responsibilities and activist shareholders. Senior associate Aisling Arthur is another key figure in the listed company advisory team. Another area of strength for the firm is in advising clients on contentious and non-contentious corruption and bribery matters. On the contentious side, in particular, it has an outstanding track record in high-profile litigation involving allegations of financial crimes. Richard Brown, who established the specialist anti-corruption and anti-bribery practice, is the name to note. In a mandate which had a significant cross-border element, in 2017, Bryden, Brown and others advised a listed company on a comprehensive review of its policies and procedures in relation to corporate governance, anti-bribery and anti-corruption, conflicts of interests, human rights and various other issues. Bryden and Summerfield are the overall co-heads of the corporate governance practice.

Leading individuals

Doug Bryden - Travers Smith LLP

Laura Summerfield - Travers Smith LLP

[back to top]

Data protection privacy and cybersecurity
Data protection privacy and cybersecurity - ranked: tier 3

Travers Smith LLP

The 'very knowledgably, pragmatic and commercial' technology sector group at Travers Smith LLP provides a 'excellent' and 'cost effective' data protection advice. The team has been instructed by the Cheque and Credit Clearing Company to advise on complex data transfer and protection aspects relating to the national implementation of an electronic image based cheque clearing system. Other work highlights include acting for Micro Focus on a substantial GDPR compliance project. Dan Reavill heads up the team which includes Louisa Chambers who is highlighted for her 'positive, proactive and engaging approach'. Shazam, Trainline and Zoopla are all clients.

[back to top]

Regulatory investigations and corporate crime
Regulatory investigations and corporate crime - ranked: tier 4

Travers Smith LLP

Travers Smith LLP¬†acts for corporations and institutions in relation to investigations by the FCA, SFO, the London Stock Exchange, the Environment Agency, Health and Safety Executive, and DOJ. It also advises corporations on compliance issues and the design of anti-bribery programmes. Recent highlights included advising the Bank of England in relation to an SFO investigation into crisis-era liquidity auctions. In 2017 the SFO closed its investigation. Rob Fell¬†heads the department, he is ‚Äėcharming and excellent at building relationships with general counsel and in-house legal teams‚Äô. Doug Bryden¬†and Tim Lewis¬†are recommended, Heather Gagen¬†was promoted to partner.

[back to top]

London: TMT (technology, media and telecoms)

Fintech
Fintech - ranked: tier 3

Travers Smith LLP

The 'proactive' department at Travers Smith LLP provides 'exceptional service and commercial, actionable advice'; it has 'deep industry knowledge', especially in payments and wider fintech infrastructure. Mark Evans's 'deep, expansive knowledge of fintech laws' is complemented by his 'understanding of technology and how it interacts with regulations'; he 'consistently provides timely, appropriate, commercial and in-depth advice'. Evans advised the Cheque & Credit Clearing Company on its launch of the Image Clearing System, designed to reduce clearing times and ease the process for customers to make payments via phones and tablets. He also advised Faster Payments Scheme on the introduction of a model that allows non-bank payments service providers to use enhanced settlement facilities, and acted for Euroclear UK & Ireland on implementing a cross-border settlement system for US dollars. Group head Dan Reavill advised eFront Financial Solutions on customer contracts and data protection matters; fellow IT expert Louisa Chambers acted for Paymentsense on its agreements with various integrated third-party providers. Outside of payments, Chambers acted for one client on a contract with an AI company to implement a machine learning-based pricing system. Other clients include Ebury Partners and and the Association of British Insurers.

[back to top]

Franchising
Franchising - ranked: tier 3

Travers Smith LLP

Travers Smith LLP's franchising expertise covers the restaurant, hospitality, retail and fashion sectors. Tom Purton leads the team and recently assisted 3i with the sale of its brand Hobbs to The Foschini Group. Dan Reavill works heavily in the food and beverage sector and advised  franchise businesses owner Bridgepoint on its acquisition of the master franchise rights to Burger King in the UK. Senior associate James Longster  is also recommended.

[back to top]

IT and telecoms
IT and telecoms - ranked: tier 4

Travers Smith LLP

The ‚Äėsuperb‚Äô information technology group at Travers Smith LLP¬†boasts a client roster including the additions of Zoopa, Antidote Technologies and Paymentsense. The ‚Äėpragmatic and commercial‚Äô Dan Reavill¬†heads up the practice which advised Micro Focus plc on its $8.8m merger with Hewlett Packard Enterprise‚Äôs software business. Louisa Chambers¬†recently worked alongside the corporate team to represent Shazam on its acquisition by Apple Inc. In another work highlight the team is acting for eFront Financial Solutions on several matters including drafting standard form customer contracts, software agreements and hosting arrangements.

[back to top]

Media and entertainment (including media finance)
Media and entertainment (including media finance) - ranked: tier 3

Travers Smith LLP

Travers Smith LLP regularly acts for broadcasters, content providers, technology companies, publishers, theatres and studios, and also advises as well as private equity and other investors in the media and entertainment sector. M&A, complex contracts and regulatory advice are key areas of focus for the department. Highlights included advising Shazam on its acquisition by Apple Inc; advising Exponent Private Equity and other selling shareholders on the sale of Immediate Media to German-based technology and media company Hubert Burda Media; and advising Ascential Group on the £23.5m disposal of Emap Publishing to Metropolis. Ambassador Theatre Group, TES Global, Genesis Films and Wireless Group are also clients. Ben Chivers regularly advises on joint ventures, strategic alliances and commercial contracts for media and entertainment clients, Ian Shawyer specialises in private equity and acts for investors, managements and investee companies, senior associate Sonny Mallet handles commercial matters, Tom Purton is head of commercial, IP and technology and Richard Brown is head of media.

[back to top]


Further information on Travers Smith LLP

Please choose from this list to view details of what we say about Travers Smith LLP in other jurisdictions.

London

Offices in London

Legal Developments in the UK

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to