AA revs up for adviser review with requests to tender sent out this week
Roadside recovery group begins review of 10-strong roster with 20-25 firms invited to tender
September 29, 2017 at 06:32 AM
2 minute read
The original version of this story was published on Law.com
The AA has launched a review of its day-to-day legal panel, with requests to tender sent out to 20-25 firms this week.
The 10-firm panel, which was last reviewed in spring 2015, covers commercial contracts, small corporate transactions, litigation and regulatory advice, but does not include non-contentious intellectual property work.
The review, which is being led by general counsel and company secretary Mark Millar, is expected to be completed next month, with the new panel appointments to run for three years.
Earlier this year, the AA appointed Freshfields Bruckhaus Deringer as its principal adviser on corporate matters. The magic circle firm was called in to replace former key adviser King & Wood Mallesons (KWM) shortly after KWM's European arm went into administration in January.
The AA last reviewed its corporate advisers in 2014-15, coinciding with the arrival of former Allen & Overy lawyer Millar as GC and the motoring association's switch to a public company. The review saw former principal adviser Clifford Chance replaced by KWM, with Norton Rose Fulbright named as back-up adviser.
Millar joined from Domino's Pizza, where he was also general counsel and company secretary.
Law firms to have worked with the AA in the past include Eversheds Sutherland, which advised the company's insurance arm on the acquisition of Direct Choice Insurance in 2006.
Other firms known to have worked with the company include Addleshaw Goddard, which advised on the AA's acquisition of DriveTech in 2009, and Pinsent Masons, which acted for AA alongside CC on its 2014 initial public offering.
Freshfields previously advised the AA on a £3bn refinancing in 2013, relating to the debt it incurred in 2007 when it merged with Saga.
That £6bn Saga merger saw CC take a lead role for the AA's former private equity owners, CVC Capital Partners and Permira, while Pinsents advised the AA's management team.
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