Pinsents leads for HSBC on £200m MBO
Pinsent Masons has taken a role advising HSBC Private Equity on one of the largest private equity deals in Europe so far this year. The firm was one of four national firms to secure a role on the management buyout (MBO) of offshore oil and gas mooring company Viking Moorings, with HSBC Private Equity buying the company from Inflexion Private Equity for around £200m.
August 04, 2009 at 04:32 AM
2 minute read
Pinsent Masons has taken a role advising HSBC Private Equity on one of the largest private equity deals in Europe so far this year.
The firm was one of four national firms to secure a role on the management buyout (MBO) of offshore oil and gas mooring company Viking Moorings, with HSBC Private Equity buying the company from Inflexion Private Equity for around £200m.
The deal marks the first mandate brought in by private equity partner Gregg Davison, who joined Pinsents from Hammonds in March.
Davison was instructed a week after joining, having previously worked with HSBC Private Equity while at Hammonds.
He led a 40-lawyer team on the deal, which also included private equity partner Peter Wood and competition partner Giles Warrington.
Scottish firm Maclay Murray & Spens advised the debt-providing banks – Royal Bank of Scotland, Lloyds, HSBC and Clydesdale – with Aberdeen corporate partner Scott Swankie taking the lead role.
Inflexion turned to Eversheds' Leeds-based corporate partner Robin Skelton for advice, while Cobbetts head of corporate Sean Fitzgerald scored a role advising Viking's management team.
Inflexion led the £22m MBO of Viking in January 2006, which gave the house an 80% stake. It is thought it will continue to hold a 20% stake following the latest deal.
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