Quartet lead on £136m dental company buyout
Dundas & Wilson, Slaughter and May, Allen & Overy (A&O) and Wragge & Co have advised on the £136m management buyout (MBO) of Associated Dental Practices (ADP). Big four Scots firm Dundas advised ADP chief executive Bharat Patel and management on the MBO, which closed last week (30 November).
December 08, 2009 at 02:23 AM
1 minute read
Dundas & Wilson, Slaughter and May, Allen & Overy (A&O) and Wragge & Co have advised on the £136m management buyout (MBO) of Associated Dental Practices (ADP).
Big four Scots firm Dundas advised ADP chief executive Bharat Patel and management on the MBO, which closed last week (30 November).
ADP, which was owned by the former private equity arm of Kaupthing Bank, has been acquired by buyout house Palamon Capital Partners, which took a majority stake in the business alongside co-investors AlpInvest Partners, Morgan Stanley Alternative Investment Partners and Lloyds Development Capital (LDC).
Dundas corporate partner Simon Sale advised ADP assisted by corporate associates Robert Spelman and Allison Keyse.
Slaughters corporate partner David Wittmann advised Palamon while AlpInvest Partners turned to A&O and LDC to Wragges. Morgan Stanley used in-house counsel.
Together the buyout houses invested £72m, with the deal also involving a refinancing through a senior debt package of £37.5m from Lloyds TSB and Royal Bank of Scotland (RBS). DLA Piper finance partner Peter Crichton advised RBS and Lloyds in relation to the debt package.
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