Kirkland bags first Bridgepoint Capital deal with E500m German acquisition
US giant Kirkland & Ellis has bagged its first instruction from UK private equity house Bridgepoint Capital after advising on its acqui-sition of contact-lens maker Rodenstock from Permira, in a deal worth more than A500m (£339m). Munich head Volker Kullman led the team on the deal, which will close this month, along with German private equity partners Christian Zuleger and Frank Becker and London banking partner John Markland.
March 07, 2007 at 11:49 PM
2 minute read
US giant Kirkland & Ellis has bagged its first instruction from UK private equity house Bridgepoint Capital after advising on its acqui-
sition of contact-lens maker Rodenstock from Permira, in a deal worth more than A500m (£339m).
Munich head Volker Kullman led the team on the deal, which will close this month, along with German private equity partners Christian Zuleger and Frank Becker and London banking partner John Markland.
Permira was advised by Hengeler Mueller, with Frankfurt-based corporate partner Peter Weyland in the lead role.
The deal is a notable client win for Kirkland, as Bridgepoint has traditionally turned to Clifford Chance for its German advice. However, a partner close to Bridgepoint said it was unlikely Kirkland would take all the private equity house's German mandates in the future.
The US firm initially set up its German operation in early 2005 to serve flagship private equity client Bain Capital but has since broadened its focus, notably launching a restructuring practice after hiring partners Bernd Meyer-Lowy from Linklaters and Leo Plank from Broich Bayer von Rom last year.
Notable mandates Kirkland's German arm has landed include advising Bain on the A3bn (£2bn) sale of chemicals distributor Brenntag Holdings to BC Partners last August – Germany's biggest-ever leveraged buy-out.
Travers Smith has traditionally been Bridgepoint's lead firm for UK advice, although New York firm Weil Gotshal & Manges has also recently grabbed a slice of its work. In August last year, Weil Gotshal advised the private equity house on the £320m sale of production company All3Media to Permira.
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