Travers, Eversheds lead on Lyceum's sale of business to RWE
Travers Smith and Eversheds have advised on Lyceum Capital's sale of Superior Plumbing Installations (SPI) Group to gas and electricity provider RWE npower. The deal, for an undisclosed sum thought to be worth £50m-£60m, saw Travers advise Lyceum and Eversheds advise RWE npower as it seeks to diversify its services. Private equity head Phil Sanderson and tax partner Kathleen Russ led the Travers team for Lyceum, while Birmingham corporate partner Keri Rees led for Eversheds.
February 25, 2009 at 10:53 PM
1 minute read
Travers Smith and Eversheds have advised on Lyceum Capital's sale of Superior Plumbing Installations (SPI) Group to gas and electricity provider RWE npower.
The deal, for an undisclosed sum thought to be worth £50m-£60m, saw Travers advise Lyceum and Eversheds advise RWE npower as it seeks to diversify its services.
Private equity head Phil Sanderson and tax partner Kathleen Russ led the Travers team for Lyceum, while Birmingham corporate partner Keri Rees led for Eversheds.
Eversheds has advised RWE on past matters, with previous transactions including advice on wind power projects.
Lyceum is also a regular client of Travers, and partners Sanderson and Paul Dolman have advised on the four deals within the last 18 months, including its September acquisition of home care company Carewatch Care Services.
Dolman commented: "This goes to prove you can do a deal without debt, as long as it is properly priced and is the right sort of company."
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