Linklaters has advised Bridgepoint Capital for the first time in London, acting on the buy-out house's acquisition of Gambro Healthcare.

The City giant, which has a relationship with the client in Stockholm and Paris, advised on the acquisition of the dialysis care services division of Swedish-based Gambro Group for an undisclosed sum. Press reports have put the value of the deal as high as €600m (£407.5m). The business is the second-largest of its type in Europe and has 155 clinics across 14 countries.

Head of private equity Charlie Jacobs led the Linklaters team, assisted by managing associate Jonathan Woolf and banking partner Robert Burt.

Swedish firm Vinge advised the vendor.

The instruction is significant for Linklaters, which has been rebuilding its private equity department since the departure of its two London partners to Kirkland & Ellis last year. In February, the firm recruited well-regarded partner Ian Bagshaw from Clifford Chance.

Bridgepoint is one of the most active upper mid-market buy-out houses in the UK. During the last three years it has made 10 exits worth a combined total of £2.1bn, as well as conducting five buy-outs worth a total of £1.2bn, according to figures from Mergermarket.

The buy-out house is known to instruct Travers Smith in the UK, as well as Weil Gotshal & Manges and Addleshaw Goddard. Last month the client used Kirkland for the first time, instructing its German arm on a €500m (£339m) acquisition.

One private equity partner at a rival UK firm said Linklaters was likely to have won the mandate due to the international nature of the target company and Linklaters' existing relationship with the client in Sweden.

Another partner also praised the new-look Linklaters team saying: "They have built a strong private equity team. It is more cohesive and more part of Linklaters than the previous team."

Over the last year, Linklaters has acted for a number of private equity clients in the mid-market arena, including HgCapital, Montagu, MidOcean and Sun Capital.